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Commercial Development Land Auction – Lee’s Summit MO

32+/- Acres of Prime Lee’s Summit Development Land at High Traffic Intersection!


Excellent development or investment opportunity for retail, office or industrial uses. Located just East of the I-470/MO291 & Colbern Road interchange, frontage and visibility are optimal. Don’t miss this one!

LIVE OFF-SITE AUCTION WITH ONLINE BIDDING
Began: 03/16/16 at 12:00 PM CDT
Property Location:

NE Corner Colbern and Rice Road, Lee’s Summit, MO 64064


Auction Location: Stoney Creek Hotel, 18011 Bass Pro Drive, Independence, MO 64055

SITE INSPECTION: Wednesday, March 2nd; 11AM – 1PM (or inspect at your convenience)

 

COMMERCIAL DEVELOPMENT LAND AUCTION

32+/- Acres of Prime Lee’s Summit Development Land at High Traffic Intersection!

Excellent development or investment opportunity for retail, office or industrial uses. Located just East of the I-470/MO291 & Colbern Road interchange, frontage and visibility are optimal. Don’t miss this one!

 

PROPERTY LOCATION:

Northeast Corner of Colbern and Rice Roads, Lee’s Summit, MO  64064

 

BIDDING HELD OFFSITE:

Stoney Creek Hotel, Wood Room, 18011 Bass Pro Drive, Independence, MO  64055

Live online bidding available with advance registration

 

Located in the City of Lee’s Summit’s North/I-470 Corridor Planning Area, the immediate area already features a new fire station, retail, post office, entertainment facilities, schools and churches.  Only two miles to St. Luke’s East Hospital.  Fleming Park and Lake Jacomo are only minutes away as well as Lee’s Summit Municipal Airport.

 

PROPERTY DETAILS

32 +/- acres of prime development land in Lee’s Summit growth corridor!

  • Intersection of Colbern and Rice Roads with frontages of:  499.89 ft on Colbern Road;  599.14ft on Rice Road per survey
  • Traffic Counts:  17,099 ADT at the intersection and 16,433 along the Colbern frontage
  • Currently zoned CP 2 – Planned Community Commercial and CS – Planned Commercial Services
  • Consists of two tracts (24.41 acres & 7.55 acres)
  • Sewer and water lines to Tract 1

 

TRACT 1

  • 24.41 acres per tax record
  • Zoned CP 2 and CS, Planned Community Commercial and Planned Commercial Services
  • Topography – Generally level
  • Frontage on both Colbern and Rice Roads
  • Sewer and water
  • 2015 taxes: $260.76
  • Parcel ID: 52-500-01-15-01-2-00-000;  52-500-01-15-02-0-00-000;  52-500-01-11-01-1-00-000;  52-600-02-12-00-0-00-000

TRACT 2

  • 7.55 acres per tax record
  • CP 2 Planned Community Commercial zoning
  • Topography – medium slope to Southwest from far Northeast corner
  • 2015 taxes: $720.51
  • Parcel IDs: 52-600-02-14-00-0-00-000;  52-600-02-11-00-0-00-000

 

AUCTIONEER’S NOTE

Here’s your chance to combine market timing and location at an intersection poised to be one of Lee’s Summit’s next growth corridors.  Just off of one of the city’s busiest highway interchanges and with the flexibility to develop retail, office or industrial facilities, you won’t want to miss this opportunity.  Come and bid YOUR price on March 16th!

 

3 EASY WAYS TO BUY!

1. MAKE AN OFFER IN ADVANCE

      Call 816-781-1134 for details.  Subject to auction terms.

2. BID LIVE ONLINE

      Advance registration required.  www.catesauction.com

3. BID LIVE ONSITE  

      Registration opens at 11:00 a.m.  See terms for requirements

AUCTION TERMS AND CONDITIONS:

 

AUCTION METHOD:

This property consists of multiple tracts being sold together as a single parcel.

 

REGISTRATION:

Onsite bidder registration will begin one hour before the auction. Online bidder registration is open now. All bidders must provide a valid driver’s license and current address.  Online bidders must also provide a credit card to register.  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 immediately following the close of bidding.   Cash, cashier’s check or personal/business check will be accepted from onsite bidders.  Bank wire will also be accepted from online bidders.

 

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 immediately following the close of bidding. All final bid prices are subject to Seller approval, unless announced otherwise.

 

CLOSING:

Buyer(s) shall close within 45 days of the auction date. Possession will be delivered at closing subject to any remaining rights of the current tenant(s), if applicable.

 

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 general warranty deed conveying the real estate to the buyer(s).

 

SURVEY

Seller shall provide a survey for any tract where there is no existing legal description.  Any need for a new survey shall be determined solely by the Seller. The type of survey performed shall be at the seller’s option and sufficient for providing a legal description for title insurance.  Purchase prices shall be adjusted to reflect any differences between advertised and surveyed acres.

 

REAL ESTATE TAXES & ASSESSMENTS:

2016 taxes are to be prorated as of the closing date.

 

EASEMENTS AND LEASES:

Sale of said property is subject to any and all easements of record and any and all leases.

 

AGENCY:

Cates Auction & Realty Co., Inc. and its representatives are Exclusive 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 Development Land Auction

Directions to Auction Location:  From I-70, exit I-470/MO 291, South to US 40 Hwy, West to Bass Pro Drive, North to Stoney Creek Hotel.  From I-470/MO 291, exit US 40 Hwy, West to Bass Pro Drive, North to Stoney Creek Hotel.

 

Directions to Auction Property:  I-470/MO291 South, exit Colbern Rd, East to intersection at Rice Rd.  From I-470 East, exit Douglas Rd., North to Colbern Rd., East to intersection at Rice Rd.

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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!