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Prime Development Land Auction – The Legends at Village West – Kansas City KS

Outstanding Development Site! 32+/- acres in prime location. Seller’s low reserve at half of last list price!


Exceptional interstate frontage & visibility! 32 acres SEC I-435 & State Ave. Adjacent to Village West and major regional retail, office, sports & entertainment. 12M visitors/yr. Sells to highest bidder over $3,250,000 (half of last list)!

LIVE OFF-SITE AUCTION WITH ONLINE BIDDING
Began: 04/20/16 at 12:00 PM CDT
Property Location:

9901 State Avenue, Kansas City, KS 66111


Auction Location: Cabela’s, 10300 Cabela Drive, Kansas City, KS 66111

SITE INSPECTION: WEDNESDAY, APRIL 6TH; 11AM-1PM

 

Prominent 32 acre m/l development site at the SEC of I-435 and State Avenue is adjacent to Village West, the Midwest’s premier sports, entertainment, office and retail venue attracting over 12,000,000 visitors annually.  Perfect for mixed use, multi-family, retail, hospitality/conference center, or office. Sites like this don’t come along often. Sells to highest bidder over $3,250,000 (half of last list)!

 

32 +/- acres of Prime Commercial Land at I-435 and State Avenue (near I-435 & I70 interchange)

  • 2,232 feet of frontage on I-435/State Ave East exit ramp
  • 2,315 feet of frontage on N. 98th Street
  • 833 feet of frontage on State Avenue
  • Average annual daily traffic on I-435 of 54,300
  • Average annual daily traffic on State Avenue of 12,058
  • All utilities to property including sewer and natural gas
  • Barely a mile to Kansas Speedway
  • Across State Avenue from Schlitterbahn Water Park and the new Dairy Farmers of America global headquarters and across I-435 from the Cerner Continuous Campus, The Legends and Village West, including Sporting KC Soccer Stadium, Community America Ballpark, Cabela’s, Hollywood Casino and numerous major retailers and restaurants
  • 2015 taxes $19,441 (classified as agricultural/residential)
  • Last listed for $6,500,000; Seller’s auction reserve only $3,250,000

 

Parcels Included: 

943000 (27.4 ac – Most I-435, State Ave. and 98th St. frontage, addressed as 9901 State Ave.)

943001 (.81 ac – Some 98th St. frontage. Vacant home, addressed as 924 N 98th St.)

943003 (1.36 ac – Some State Ave. frontage, addressed as 9845 State Ave.)

943005 (2.9 ac – Some 98th St. frontage, former home site, addressed as 834 N 98th St.)

 

AUCTIONEERS NOTE

Opportunities like this don’t come along every day.  Excellent interstate frontage and visibility, at an intersection in the immediate proximity of major entertainment, office, retail and tourism destinations with enough acreage for a wide variety of development.  Nascar, Major League Soccer, Minor League Baseball, Hollywood Casino, 370 acre Schlitterbahn Waterpark, Big-Box retailers, multiple corporate headquarters, numerous dining and entertainment venues are all mere minutes from this property.  Our sellers are serious and set their auction reserve at only half of their last list price! 

 

3-EASY WAYS TO BUY!

1. BUY IT NOW

     Can’t wait for the auction? Call for details about buying a property in advance of the auction.

2. BID LIVE ONLINE

     Advance registration required.

3. BID LIVE ONSITE

     Attend the auction in person on auction day. Registration opens at 11:00a.m.

 

AUCTION TERMS AND CONDITIONS:

 

AUCTION METHOD:

If a property contains multiple tracts they may be offered individually, in combinations and as a whole. The property will be sold in the manner resulting in the highest total sales price.

 

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: Development Land Auction

From I-70, exit I-435, north to State Avenue, east to property. I-435 to State Avenue East exit, east to property on south side of State Avenue.

Click on any image to view larger.

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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!