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6500 sf operating, turnkey restaurant/bar on 2 acres m/l located next to Shirkey’s Golf Club. Sale includes: Real estate, furniture, fixtures, and equipment. A great investment opportunity!

LIVE ON-SITE AUCTION
Began: 12/19/07 at 10:00 AM CST
INSPECTION
Began: 12/05/07 at 10:00 AM CST
Ended: 12/05/07 at 12:00 PM CST

INSPECTION
Began: 12/12/07 at 10:00 AM CST
Ended: 12/12/07 at 12:00 PM CST


The Business

Duke’s Steakhouse & Sports Bar is a well known local dining and drinking establishment that has been operating since 1992.  Duke’s is a full service restaurant and bar with occupancy for 290 and features a commercial kitchen, sports bar with fireplace, pool room, dining room, small banquet room, large banquet room with fireplace, stage and dance floor, and outdoor decks and patios.  Duke’s is conveniently located just off  10 & 13 Hwy’s and next to one of the finest semi-private 18-hole championship golf courses -Shirkey’s Golf Club. Shirkey’s was ranked one of the top 50 Great Value Courses by Golf Digest.   

Real Estate

6500sf one-story building on 2 acres m/l with paved parking lot and 20×30 detached garage. Newer roof approximately 5-6 years old; New Trane 5 ton air conditioning unit (2007); Zoned heating and cooling, Pole sign, Full commercial kitchen 30×17, Prep room 10×10, Full service sports bar 20×30, Pool room 20×30, Dining room 18×45, Large banquet room 43×45, Small banquet room 15×20, Office 10×14, Public restrooms, Outdoor decks/patios and more! 

Furniture, Fixtures & Equipment (FF&E)Kitchen:  Kolpak walk-in freezer; stainless steel wash sinks; stainless steel storage & prep tables; Southbend stainless steel double oven/broiler; under counter refrigerator; Superior gas steak grill; Superior 6 burner gas grill w/flat top grill; Frymaster deep fryer; Artic Air freezer (approximately 2 years old); Steam table; microwave; True stainless steel refrigerator single door; True double door refrigerator stainless steel 

Prep-Room:  Whirlpool 50 gal gas hot water heater; RCA electric dryer & Kelvinator washer 

Sports Bar:  Mainitowoc ice machine (2006); Jagermeister machine; 8-bottle wine cooler; 3-phase walk-in cooler; Perlick 4-door beer cooler; True 2-door beer cooler, Scorpion electronic dart machine; 3 televisions;18ft long bar w/footrest; 5 tall bar tables; 15 wrought iron/upholstered stools;; MegaTouch bar top trivia machine  

Pool Room:   2 – Valley coin operated 8ft slate pool tables with Budweiser #8 NASCAR lights; cues, racks and balls; change machine 

Dining Room:  5 Booths; 10 tables & 30 chairs; includes cashier station 

Large Banquet Room:   30+ tavern chairs; 50+ stacking banquet chairs; 16+ square tables; native stone wood-burning fireplace; 14×18 stage 

Small Banquet Room:   10+ stacking banquet chairs; 4+ square tables; access to the office (10×14) 

Other FF&E:   Tables, chairs, booths, cookware, glassware, dishes, flatware, pictures, etc.

 

TERMS AND CONDITIONS:

All information contained in this and other advertisements was obtained from sources

believed to be accurate. However, no warranty or guarantee, expressed or implied, is

intended or made. All buyers must independently investigate and confirm any

information or assumptions on which any bid is based. Neither the auction company nor

the seller makes or has made any representation or warranty with respect to the accuracy,

correctness, or completeness of the information, the contents or meaning of the

information, or the valuation of the real estate and shall not be held liable. Any decision

to purchase or not to purchase the real estate is the sole and independent business

decision of the potential buyer. No recourse or cause of action will lie against any of the

above-mentioned parties should buyer become dissatisfied with its decision, whatever it

may be, at a later date.

 

CONTRACTS:

The successful bidder must sign all documents and contracts immediately upon

conclusion of the auction.

 

EARNEST MONEY DEPOSIT:

A $25,000 non-refundable earnest money deposit shall be required of the successful bidder immediately following the auction, in the form of a cashier’s check. Please note: Cashier’s check should be made payable to yourself. You will endorse the check to the escrow agent when you are the successful bidder.

 

BUYER’S PREMIUM:

A buyer’s premium of ten percent (10%) shall be added to the successful bidder’s high bid

and included in the total purchase price to be paid by the successful bidder.

 

REAL ESTATE CLOSING:

Buyers must close within 30 days of the auction date. Time is of the essence. The entire

purchase price must be paid by cashiers or certified check, or wired funds at closing.

Upon payment in full of the purchase price, the buyer shall be entitled to a general

warranty deed for said property.

 

REAL ESTATE BROKERS:

A commission of 30% of the net buyer’s premium, shall be paid (where allowed by law)

to the qualified broker who is duly licensed in Missouri, whose properly registered client

is the successful bidder at the auction, and whose client pays for and settles on the

property by the closing date. A broker shall not be entitled to any commission on account

of any sale to entity of which (or of any affiliate of which) the broker is a principal,

employee or affiliate, or immediate family member. Brokers must register their

prospective clients on the appropriate form and submit it via fax, (816) 781-1135 no later

than 48 hours prior to the auction date. If a legal entity is the Client, the principals must

be disclosed.

    

AGENCY:

The Auctioneer is acting as agent on behalf of the seller only. During bidding, the

Auctioneer has the right to reject any raise that, in his opinion, is not commensurate with

the value of the offering. In the event of any dispute between bidders, the Auctioneer’s

decision is final. Should there be any dispute after the sale, Cates Auction & Realty, Co.’s

record of final sale shall be conclusive.

 

RIGHTS:

All announcements made the day of sale take precedence over any prior written or verbal

terms of sale. If any conditions contained here-in are not complied with by the successful

buyer, Cates Auction & Realty, Co. may, in addition to asserting all remedies available

by law, including the right to hold defaulting buyer liable for the purchase price, either

(a) cancel the sale, retaining as liquidated damages any payment made by such buyer; (b)

resell the property without reserve at public auction; or (c) take such other action as it

deems necessary or appropriate. The retention of the bidder’s deposit shall not limit any

rights or remedies of Cates Auction & Realty, Co., or the seller(s) with respect to the

buyer’s default. If the property is resold, the original defaulting buyer shall be liable for

payment of any deficiency in the purchase price and all costs and expenses, the expenses

of both sales, reasonable attorney’s fees, commissions, incidental damages, and all other

charges due hereunder.

 

AUCTION REGISTRATION  

Registration will begin one hour before the sale. To register, a prospective bidder must

provide name, residence address, phone number, fax number, social security number, and

a valid driver’s license. By registering, a prospective bidder is acknowledging that he or

she has read and agrees to be bound by the Terms and Conditions of Sale.

 

PURCHASE AND SALE AGREEMENT:

The successful bidder shall execute a Purchase and Sales Agreement (P&S) immediately

after being declared the winning bidder by the Auctioneer. Upon execution by the Seller,

the P&S will supersede all printed material and will serve as the governing document for

sale of the property. The P&S contains an acknowledgment that the purchaser has

inspected the property prior to the auction, is relying solely on his/her inspection of the

property in making the decision to purchase, and is purchasing the property "as is, where

is” with all faults and without reliance on any warranty of any kind whatsoever. No

changes in the Terms and Conditions of the P&S will be permitted. A sample P&S is

included in the Property Information Package available at www.CatesAuction.com and at

auction registration.

 

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.  If purchaser cannot obtain financing on the property because he/she cannot fulfill terms or does not qualify, then purchaser must either close for cash within the contractual time or forfeit his/her earnest deposit. 

 

TAXES: 

Taxes are to be prorated between Purchaser and Seller as of the closing date.

 

 

210 Highway to MO-13, south to MO-13 Business, east to Wollard, south to address.

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