SOLD! Prime Leawood, KS Retail/Office Lot Auction | 66% Off Last List!
Ended: 05/22/19 at 12:30 PM CDT
PROPERTY INSPECTIONS: WEDNESDAYS, MAY 1ST & 8TH; 11AM-1PM
13470 Briar Street, Leawood, KS 66201
PRIME DEVELOPMENT LOT
1.82 ACRES +/-, LEAWOOD, KANSAS
- 1.82 Acre +/- Prime Development Lot in Affluent Leawood, Johnson County, Kansas.
- Located in Busy Retail Corridor along 135th St. & Roe Avenue.
- Within Upscale & Innovative 60-Acre Mixed-Use Development, Parkway Plaza.
- Adjacent to Starbucks and other Retail, Professional and Medical Businesses.
- Close Proximity to 153,386 Residents Within a 5-Mile Radius.
- Leawood Residents Among the Wealthiest in Johnson County, Kansas.
- Over 28,000 Cars Per Day on 135th St. & Birch St., 22,000 Cars Per Day on Nall Ave. & 134th St.
- Located in One of the Best Real Estate Investment Markets in the Country, Johnson County, KS
- Seller’s Low Auction Reserve only $238,000 (66% Off Last List Price of $715,000)
SITE AREA: 1.82 Acres +/- (79,219 Sq. Ft.)
MUNICIPALITY: City of Leawood, Kansas
LOCATION: 135th Street & Roe Avenue, Leawood, KS 66209
DEVELOPMENT: 60-Acre Mixed Use Development, Parkway Plaza
ZONING: MXD – Mixed Use
IDEAL USE: Retail, Professional, Medical
UTILITIES AVAILABLE: Water, Sewer, Electricity, Gas, Cable
OFF-SITE IMPROVEMENTS: Curb, Gutter, Sidewalk, Streets, Utilities
SCHOOL DISTRICT: Top-Rated Blue Valley
PARCEL ID: HP90630000-0022
LEGAL DESCRIPTION: Parkway Plaza Seventh Plat Lot 22
PARKWAY PLAZA – PREMIER MIXED USE DEVELOPMENT
Parkway Plaza is one of Leawood’s newest and most innovative mixed-use shopping area. This 60 Acre, lifestyle community is thoughtfully designed, and a place where people and businesses connect.
Conveniently located at 135th Street and Roe Avenue, this new shopping center is a destination for all seasons providing retailers with more sales potential.
PARKWAY PLAZA HIGHLIGHTS
- True 60 Acre mixed-use, upscale retail, office and lifestyle community
- Excellent visibility and access with curbside parking
- Space available from 900SF to 11,000SF
- Buy, lease or build-to-suit
- One-half mile to prime street edge, clear visibility for retail signage 50 feet away
- Unified yet individual identity and brand exposure
- Charming gardens and European inspired architecture offers a rare pedestrian experience
TRADE AREA HIGHLIGHTS
- Leawood residents are among the wealthiest in Johnson County, boasting an average household income of more than $163,198.
- The population with a 5-mile radius of Parkway Plaza is approximately 153,386 residents.
- Leawood residents are extremely educated, with more than 68% having a Bachelor’s degree or higher. They consistently score in the national top twenty rankings in terms of High School graduation numbers and Bachelor’s/Post Bachelor’s degrees earned.
- Leawood is well-connected to the Kansas City Metro’s vast system of highways, providing access in 30 minutes or less to almost every community within the Metro Area.
- Johnson County is the wealthiest county in the State of Kansas. The county’s average household income is $91,234.
- Johnson County accounts for 55% of the new businesses in the Kansas City MSA and 60% of the new businesses in the State of Kansas. Approximately 360 new businesses are added annually.
- Johnson County is known for its strong public education opportunities. Within the trade area, there are two major districts: Blue Valley and Shawnee Mission. Both districts have consistently been named among the top public school districts nationwide. Johnson County is home to 24 public golf courses, including designs by Johnson County resident Tom Watson, and Kansas City native Jim Colbert.
KANSAS CITY MSA
- The population in the Kansas City MSA is currently more than 1.95 million and is expected to grow an additional 5% in the next five years.
- Greater Kansas City is one of the fastest-growing labor markets in the Midwest, while featuring affordable lifestyle and business costs.
- According to the ACCRA Cost of Living Index, Kansas City is one of the most affordable among large U.S. cities in addition to being ranked as one of the most affordable housing markets, by the National Association of Home Builders.
OFFICE – COMMERCIAL – HOTEL
- According to Sites USA’s projections, approximately 117,592 people work within a 5 miles radius of Parkway Plaza.
- The entire Kansas City office Market is comprised of approximately 3,136 office buildings totaling more than 96 million square feet.
- Most of the office population is concentrated on the College Boulevard corridor, which is located within four miles of Parkway Plaza.
- The Sprint-Nextel World Headquarters Campus is located just minutes from the Parkway Plaza site on the northwest corner of 119th Street and Roe Avenue. It has more than 4 million square feet and 14,500 employees.
- The area is home to +5,022 hotel rooms. In 2005, 2.7 mission people visited the area generating $905 million into the local economy.
“ONLINE ONLY” REAL ESTATE BIDDING
AUCTION TERMS AND CONDITIONS
Proper and complete online registration is required to bid. All bidders must provide name, address, phone number, and email address to register. A credit card (MC, Visa or Discover) is required to actually place a bid on the property. The credit card will be validated before bidding access is granted, but is not a recognized form of payment of the deposit or purchase price. Should a Winning Bidder fail to complete the contract signing process, the required deposit will be charged to the credit card provided at registration. By registering, all bidders acknowledge having read and agree to be bound by the Auction Terms and Conditions. Bidders may register prior to, or during the bidding period. At registration bidders are given the option of receiving emails confirming their individual bids and/or when they are outbid.
All bidding in this auction is being conducted online. (If you need assistance placing a bid or prefer to submit a bid in person, please call our office for assistance. 816-781-1134) To place a bid, bidders enter their “maximum” bid and click the “Place Bid” button. Each time that bidder is outbid by another bidder, the system will automatically bid on their behalf at the established bid increments up to their maximum. In the case of an auction with a reserve, if the max bid amount entered is less than the reserve, the system will place the bid at the max amount. Once the system displays that the reserve has been met, then it will advance the bid (by the bid increments) only when the bidder is outbid by another bidder, up to the bidders max. The Auctioneer does not know any bidder’s maximum bid. The system will not advance a bidder’s own bid. Online-only auctions utilize the “Soft Close” feature that automatically extends the bidding time if a bid is received in the last 2 minutes of the published bidding period. The extensions will continue until 2 minutes have lapsed without any bidding activity, at which time the auction is concluded.
A buyer’s premium of ten percent (10%) of the high bid shall be added to that bid and included in the total purchase price to be paid by the successful bidder(s).
Sample calculation — High bid = $50,000
Buyer’s Premium = $ 5,000 (10% of 50,000)
Total purchase price = $55,000
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.
At the conclusion of the auction the Winning Bidder will receive an email and/or phone call confirming his or her winning bid status. In this or a subsequent email the Winning Bidder will receive a link to sign all documents electronically along with wiring instructions for submitting the required earnest money deposit to the named title company. Should the electronic processes described above be unavailable, alternative arrangements will be made. In any event, the contract signing and deposit payment process must be completed by close of business on auction day. A Winning Bidder whose documents and deposit are not received within the required time frame is subject to paying a liquidated damages amount equal to the down payment (charged to the credit card used at registration) and will not be allowed to bid in any future Cates Auction & Realty auction events. Note that property-specific purchase documents are available prior to the auction end date and any professional reviews of such documents should be undertaken PRIOR to bidding. All final bids are subject to Seller’s reserve, unless advertised otherwise. Any property with a high bid exceeding the Seller’s reserve will be declared “sold” by the Auctioneer. In instances where the seller’s reserve was not met in the auction, the signed contract and accompanying deposit will be presented to the Seller for approval, which shall be given or denied in the Seller’s sole discretion within 5 business days. If approval is denied, all documents and the deposit will be returned immediately.
DOWN PAYMENT (DEPOSIT):
The Winning Bidder shall be required to make an earnest money down payment equal to ten percent (10%) of the total purchase price. This deposit must be received by wire transfer (or by certified funds), by close of business auction day. Winning Bidders whose documents and deposit are not received within the required timeframe are subject to paying a liquidated damages amount equal to the down payment (charged to the credit card used at registration) and will not be allowed to bid in any future Cates Auction & Realty auction events.
The Winning Bidder shall close within 30 days of the auction date, unless stated differently in the Purchase Agreement.
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).
REAL ESTATE TAXES & ASSESSMENTS:
2019 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.
Cates Auction & Realty Co., Inc. and its representatives are Exclusive Agents of the Seller.
A commission of 3% of the high bid (unless a different percentage is stated in the property’s MLS listing) 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 end date.
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 information contained in the advertising and all related materials are subject to the terms and conditions outlined in the purchase agreement. The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller’s reserve (if applicable). This property is available for and subject to sale prior to auction.
As exclusive agents for the Seller, the Auctioneer has a fiduciary obligation to present any and all offers to the Seller. Therefore, all properties are subject to pre-auction sales. Pre-auction offers must meet all auction terms and be submitted to the Auctioneer on the Real Estate Sale Contract along with the required deposit. Properly submitted offers will be presented to the Seller, who may accept or reject such offer in their sole and absolute discretion.
We hope you enjoy bidding in the online auction!
Video: Artist Rendering of Proposed Building
Video: Prime Leawood, KS Retail/Office Lot Auction
US-69 to 135th St., east to Roe, left to 134th St., left to property.