SEALED BID AUCTION
21,000+ SF BAR/RESTAURANT/EVENT SPACE
IN THE OPPORTUNITY ZONE
BIDS DUE: WEDNESDAY, AUGUST 21, 2019
12:00 NOON (CT)
BID DROP OFF LOCATION: 2425 US-41 N, SUITE 204, EVANSVILLE, IN 47711
PROPERTY LOCATION: 1430 W. Franklin Street, Evansville, IN 47710
17,919 SF (.41136/acre) Highly Visible Corner Lot
STATE-OF-THE ART Building Totaling 21,000+ SF
3,510 SF of Newly Renovated Restaurant Space
Large Bar, Kitchen, Serving Kitchen
Ample Seating Space
8,741 SF Warehouse Space
Two Drive-in Doors
2-Level Patio Seating
Third Floor Unfinished Space
POTENTIAL USES: Restaurant/Bar/Event Space
INSPECTIONS: Aug 9, 4-5 PM; Aug 14, 12-1 PM; Aug 20, 12-1 PM. All Times (CT)
AUCTIONEERS NOTE: Renovated and restored with high quality materials, this is an exceptional property. Functionally and mechanically equipped to handle a variety of high traffic uses. Located in the Opportunity Zone, along one of Evansville’s hottest districts for restaurant and night life. Plan to inspect this property and submit your bid.
See the “Documents” tab for the terms and conditions of the sale, Broker participation form, property detail summary, property cards & reports, tax information, aerials, parcel information & maps, zoning information & maps, additional maps (topography maps, flood zone maps, and traffic count maps), drawings (surveys, proposed plans, and floor plans), easements, miscellaneous documentation, and an auction flyer!
See below the property detail summary table for further information regarding building structure and features.*
OWNER: Neace Family LLC
M-2 Industrial District
Tax Parcel Number
Address: 1430 W Franklin St, Evansvile, IN 47710
19,281 ± SF
17,919 SF (.41136/acre) highly visible corner lot
Exterior Walls – Mix of Masonry-Style Concrete Block (Painted), Metal, and Brick Veneer; Interior Walls – Brick; Stick-Built with Drywall (Painted); Insulation – Fiberglass in Ceiling (Concealed); Flooring – Mix of Wood, Vinyl and Ceramic Tile;
Reinforced Concrete Pier and footings, concrete slab on grade
Square in shape, Sloping towards drainage
Approximately 135′ on W. Franklin Street and 132’ on N. Seventh Avenue
Metal and rubber membrane
Gas forced air furnaces with Central Air Conditioning Throughout;
Original Building – 8.5’ ceiling height
Warehouse – approx. 14’ & 20’ clear height
Public Electricity (400 Amp), Gas, Water, Sewer, Phone/Cable
Renovated in 2012
$10,640/year (2018 Payable 2019)
Required Down Payment
10% of Gross Purchase Price
Within Thirty (30) Days
Real Estate Property Taxes Will Be The Responsibility of the Buyer Beginning May 2020 and thereafter
DOWN PAYMENT: A 10% down payment is due on the day of the auction with the balance due at closing. The down payment may be in the form of cash, cashier’s check, personal check or corporate check. Bidding is not conditional upon financing. Bidders should arrange for financing, if needed, and be capable of paying cash at closing.
OFFER REQUIREMENTS: All offers must be sealed and the name and address of the offering party must appear on the outside front of the envelope. Offers must be in writing on the appropriate Purchase Agreement provided by the Auction company in the Bidder’s Packet and must be received by WILLIAM WILSON AUCTION REALTY, 2425 US-41 N, SUITE 204, EVANSVIILE, IN 47711 As mentioned above. Bidder may deliver or use overnight delivery service. Bids to be notified within 24 hours.
ALL OFFERS MUST BE ACCOMPANIED BY:
(a) Real Estate Purchase Agreement. The Real Estate Purchase Agreement must be properly completed and signed. Bidders should carefully review the Real Estate Purchase Agreement to be used and any exhibits and addenda to the Real Estate Purchase Agreement.
(b) Down payment equal to ten percent (10%) of bid price. Check must be payable to “William Wilson Auction Realty”. The check will be deposited only if bid is accepted. Checks submitted with unaccepted bids will be returned within three (3) days after the bids are rejected.
OFFER AND ACCEPTANCE: The seller reserves the right to request a Best and Final Offer. The successful bidder will be required to enter into a Purchase Agreement upon acceptance. The Real Estate will sell subject to the seller’s approval.
BUYER’S PREMIUM: A 5% Buyer’s Premium will be added to the high bid to determine the contract sales price.
DEED: Seller shall provide a sufficient deed conveying title to the property.
CLOSING: The balance of the purchase price is due at closing, which will take place within 30 days of the presentation of insurable title.
POSSESSION: Possession of real estate shall be delivered to the buyer at closing.
REAL ESTATE TAXES: The real estate taxes will be the responsibility of the buyer beginning with the taxes due and payable in May 2020 and thereafter.
ACREAGE: All tract acreages, dimensions, and proposed boundaries outlined on the auction plat and all advertising are approximate and are estimated based on current legal descriptions and/or aerial photos. Purchaser should make his/her own independent determination of acreage prior to bidding.
SURVEY: If a survey is deemed necessary to establish a new legal description, the cost of the survey will be split 50/50 between seller and buyer.
DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this ad and all related materials are subject to the terms and conditions outlined in the Purchase Agreement, which shall take precedence. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or WILLIAM WILSON AUCTION & REALTY, INC., including, but without limitations to fitness for a particular use, physical condition, any specific zoning classification, title, location of utilities, assurance of building permits, driveway permits, or water and septic permits. All sketches and dimensions are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property.