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GONE! BANK ORDERED AUCTION – Lee’s Summit Commercial Multi-Use Building – For Mid Missouri Bank

Minimum Bid $250,000 – 91% Off Original List Price of $2.75 Million!


This 17,933 sq. ft. commercial building on 1.2 Ac, renovated in 2007 is located along a thriving commercial corridor in the NE quadrant of US-50 and Chipman Rd. with good access to the I-470/NE Douglas St., interchange.

LIVE ON-SITE AUCTION WITH ONLINE BIDDING
Began: 06/28/12 at 10:00 AM CDT
Location: 751 NW Commerce Drive, Lee’s Summit, MO 64086
INSPECTION
Began: 06/14/12 at 10:00 AM CDT
Ended: 06/14/12 at 12:00 PM CDT
Location: 751 NW Commerce Drive, Lee’s Summit, MO 64086

INSPECTION
Began: 06/21/12 at 10:00 AM CDT
Ended: 06/21/12 at 12:00 PM CDT
Location: 751 NW Commerce Drive, Lee’s Summit, MO 64086


The market area is anticipated to see continued stability and access to this property is good and benefits from it’s strategic location to highways, interchanges, increasing populations, households and household incomes.

 

PROPERTY DESCRIPTION:

Building Type: Commercial

Total Building Area: 17,933 sq. ft.

Aquatics Building Area: 12,437 sq. ft.

Aquatics Year Built: 2005

Daycare Building Area: 5,556 sq. ft.

Daycare Year Built: 1992

Land Area: 54,572 sq. ft. / 1.25 acres

Year Renovated: 2007

Zoning: CP-2 (Planned Community Commercial District)

Tenant Spaces: Two currently

Foundation: Poured concrete

Roof: Flat, single-ply system

Windows: Insulated glass in metal frames

Interior Walls: Textured and painted sheetrock, ceramic tile and painted block

Floor coverings: Carpet, ceramic, tile, stone

Ceiling Finish: Suspended, acoustic tile and metal girders

Lighting: Recessed fluorescent, halide and holgen

Clear Height: 8’ to 20’

Special Features: 100,000 gallon swimming pool, 20,000 gallon swimming pool, mushroom and finger fountain, slide, Jacuzzi, sauna, steam room, locker rooms, etc.

HVAC: Zoned with moisture control in aquatics facility

Fire Sprinklers: Wet sprinkler system

Parking: 32 spaces (70 with shared parking agreement)

Parking Ratio: 3.89

Parking Surface: Asphalt

Paved Area: 14,000 sq. ft.

Exterior Lighting: Light poles and building mounted

Fencing: Iron fencing around storm catch basin

This property has great investment potential with a variety of uses for retail, office, swim teams, athletic rehabilitation, religious facilities, church outreach, community center, daycare, senior services/rehabilitation, etc.

AUCTION TERMS AND CONDITIONS

 

REGISTRATION: Registration will begin one hour before the auction. All bidders must provide name, address, phone number, social security number, and a valid driver’s license. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions.

 

DOWN PAYMENT: The successful bidder(s) shall be required to make a 10% non-refundable down payment of the total purchase price at the auction site immediately following the close of bidding.  A $25,000.00 cashier’s check shall be required to bid and presented at registration unless you have made other arrangements with the Auction Company. The cashier’s check should be made payable to yourself and then shall be endorsed over to the escrow agent if you are a successful bidder. A personal or business check to bring the balance up to 10% will be accepted.

 

FINANCING: Financing is not a contingency of sale in this offering. Therefore, it is strongly recommended that potential bidders ensure in advance that they are able to obtain the necessary financing to close the transaction.

 

CONTRACT SIGNING: The successful bidder(s) shall execute a purchase agreement at the auction site immediately following the close of bidding. All final bid prices are subject to Seller approval, unless announced otherwise. 

 

CLOSING: Buyer(s) shall close within 30 days of the auction date. Possession will be delivered at closing.

 

EVIDENCE OF TITLE: Seller shall furnish at seller’s expense an Owner’s Policy of Title Insurance in the amount of the total purchase price and shall execute a warranty deed conveying the real estate to the buyer(s).

 

REAL ESTATE TAXES, ASSESSMENTS, & EASEMENTS: 2012 taxes are to be prorated as of the closing date. Sale of said property is subject to any and all easements of record.

 

AGENCY: Cates Auction & Realty Co., Inc. and its representatives are Agents of the Seller.

 

BUYER’S PREMIUM: A buyer’s premium of ten percent (10%) shall be added to the high bid and included in the total purchase price to be paid by the successful bidder(s).

 

BROKER PARTICIPATION: A commission will be paid to any properly licensed Broker who registers a successful buyer according to the appropriate Broker Participation Agreement. This form is available from the Auction Company and must be completed and returned no later than 48 hours prior to the auction.

 

DISCLAIMERS AND ABSENCE OF WARRANTIES

The information in the auction advertising was obtained from sources believed to be accurate, but is subject to verification by all parties relying on it.  All sketches and dimensions are approximate.  No liability for its accuracy, errors or omissions is assumed by the Seller or the auction company. All bidders are responsible for conducting their own inspections, investigations, inquiries and due diligence concerning the property. The property is being offered on an “AS IS”, “WHERE IS” basis and no warranty or representations, expressed or implied, is made by the Seller or the auction company. All announcements made by the Auctioneer during the auction take precedence over any previously printed material or any other oral statements made. All information contained in the advertising and all related materials are subject to the terms and conditions outlined in the purchase agreement. Advertising may contain pictures of wildlife and other items that are for illustrative purposes only. The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller’s reserve (if applicable). The Property is available for and subject to sale prior to auction.

Video: Bank Ordered Auction

I-470 to US 50, south to 1st exit Chipman Rd, left to Commerce Dr., then left to address.

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We are Kansas City's oldest and most experienced real estate auction company specializing in accelerated real estate sales in Missouri and Kansas, including Overland Park, Lenexa, Shawnee, Leawood, Kansas City, Lee's Summit, Olathe, Blue Springs, Independence, Liberty, Kearney, Parkville, Smithville, Gladstone, Clay County, Platte County, Jackson County, Johnson County, Wyandotte County, Leavenworth County, Cass County, Lake of the Ozarks, Lake Ozark, Sunrise Beach, Osage Beach, Four Seasons, Shawnee Bend, Miller County, Camden County, and around the Midwest. Kansas City auctioneers with regional expertise!