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GONE! Commercial Building Auction (1 of 2)

8,000+/- sq. ft. Office Building in Lee’s Summit


Handsome all-brick office building with traditional architecture is designed for up to 8 individual professional suites. Currently 75% rented. Corner location with ample parking and excellent accessibility.

LIVE ON-SITE AUCTION WITH ONLINE BIDDING
Began: 02/12/14 at 10:00 AM CST
Location: 251 NW Executive Way, Lee’s Summit, MO 64063
INSPECTION
Began: 01/29/14 at 11:00 AM CST
Ended: 01/29/14 at 1:00 PM CST
Location: 251 NW Executive Way, Lee’s Summit, MO 64063

INSPECTION
Began: 02/05/14 at 11:00 AM CST
Ended: 02/05/14 at 1:00 PM CST
Location: 251 NW Executive Way, Lee’s Summit, MO 64063


Handsome all-brick office building with traditional architecture is designed for up to 8 individual professional suites. Currently 75% rented. Corner location with ample parking and excellent accessibility.

Building Type: Commercial – Office

Location: Centrally located with immediate access to US 50 Hwy & I-470

Stories: 2

Building Area: 8,000+/- sq. ft. (4,000 sq. ft. per floor; 1,000 sq. ft. per suite)

Divisible: Up to 8 suites; two suites per dedicated entrance.

Vacancy: 4,000 sq. ft. (upper suites combined) rented – 1 year lease

2,000 sq. ft. (lower end suites – 100 & 103) rented – month-to-month lease

2,000 sq. ft. (lower center suites combined – 101 & 102) vacant

Parking: 40 surface spaces (5/1000)

Exterior: Brick w/stone accents

Roof: Composition

Year Built: 2002

Zoning: PO – Planned Community

2013 Taxes: $22,615

3 Ways to Buy:

  1. Buy it now. Call for details about buying one or both of the properties in advance of the auction.
  2. Bid live online.  Pre-registration required. www.CatesAuction.com
  3. Bid live in person. Registration opens at 9:00 a.m. (Auction conducted from 251 NW Executive Way, Suite 102, Lee’s Summit, MO 64063.)

 

Lee’s Summit, MO – A great place for business!

Just 20 minutes southeast of Kansas City, Lee’s Summit, Missouri, is an ideal metropolitan business base with a population of approximately 91,000. In addition to easy highway access to multiple major markets and a wide variety of amenities, the city itself is home to an active business community and vibrant residential life.

Auction Location: 251 NW Executive Way, Suite 102 (lower center), Lee’s Summit, MO 64063 (and online)

Property Previews: Wednesdays, January 29th & February 5th; 11:00-1:00

Auctioneer’s Note:

Our upcoming auctions of these attractive, well-built commercial office buildings represent tremendous buying opportunities! This is an excellent way to invest in an owner/user property or simply to generate additional income. See the opportunity for yourself at one of our upcoming previews and then bid your price at the auction on February 12th (in person or online)!   

 

Can’t wait for the auction? Make an offer now!

All qualified offers will be submitted to the seller for a response as they are received. Advance offers are subject to all auction terms and must be submitted to Cates Auction & Realty on the approved Sale Contract. For assistance call our office at 816-781-1134.

AUCTION TERMS AND CONDITIONS

 

REGISTRATION: Registration will begin one hour before the auction. All bidders must provide name, address, phone 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: 2014 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: Commercial Building Auction (1 of 2)

MO-350E/US-50E to NW Chipman Road, E to NW Blue Parkway, S to Executive Way, left to address.

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AuctionServices
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!