Commercial / Industrial Warehouse Real Estate Auction

Filed as: Past Auction, Past Real Estate Auction 
Posted on: Monday, August 24th, 2009

DSC02451When: Thursday, September 24, 2009 @ 11AM
Where: 800 Norway Drive E, Annandale, MN 55302
County Information: Tax Information and Valuations or Mapping Service including Aerial
Frontage: Approximately 230′
Lot Size: Approximately 3.65 acres, Irregular Shaped
Terms: $10,000 non-refundable down. Balance at closing on or before 29th day of October, 2009.  10% Buyer’s premium added to high bid.  Broker’s participation accepted.  Sold subject to owner’s confirmation.

This auction presents a fantastic opportunity to acquire at public auction, a 11,000 sq ft warehouse / office building built in 1988 with (4) overhead dock doors, complete refrigeration system, and ample office space.

Note: We are pleased to partner with Grafe Auction Company to bring you this fantastic commercial / industrial real estate auction.  Come prepared to bid your price as the sellers are very motivated to move this fantastic multi-use property.  Parties that are interested in the building but not the refrigeration system are encouraged to contact our office to discuss a special offering of only the refrigeration system.

11,000 Square Foot Commercial / Industrial Building
This property is an excellent opportunity to acquire at public auction a fantastic multi-use property.  Most recently the building was used as a commissary facility that prepared packaged foods for grocery stores.  The property is conveniently located just north of Minnesota Hwy 55 in bustling Annandale, MN.

The spacious 11,000 square foot building includes a two-level 18×40 office area with (2) restrooms, and several executive offices.  The property features an approximately 29,000 square foot paved parking and driveway area with approximately 40 parking spaces, and ample turn-around room near the dock area.  The building also boasts a generous refrigeration package including a drive-thru cooler, drive-thru freezer, and (2) walk-in coolers and (5) Copeland Compressors (’84 10HP Medium Temp, 1988 15HP Low Temp, 1994 7.5HP Medium Temp, 1999 5HP Medium Temp, and 2000 20HP Medium Temp).

Property Preview Dates
Thursday, September 10, 2009: 11:30am to 1:30pm
Tuesday, September 16, 2009: 4pm to 6pm
Or by appointment

Property Features
11,000 square foot (100 x 110) commercial/industrial building
75 x 180 parking space with approximately 40 spaces
4-stall receiving dock
24 x 50 two-story office area + Additional 24 x 22 2nd Floor Storage
(2) Restrooms
Ample turn-around area
230′ frontage on Norway Drive E
Gas Forced Air Heat
Complete Refrigeration System
(2) A.O. Smith Gas Hot Water Heaters (40 Gal and 85 Gal) 

Real Estate Terms & Conditions
Earnest Money:
The sum of Ten Thousand Dollars ($10,000.00) shall be deposited as earnest money by the high bidder in the trust account of Schultz Auctioneers Landmark Realty, Inc. but to be returned to the Seller if the Buyer fails to perform pursuant to the Purchase Agreement.  Therefore, the earnest money is non-refundable.
Buyer’s Premium: A ten percent (10%) buyer’s premium will be added to the high bid price to equal the contract price used in the purchase agreement. For example, a bid price of $100,000.00 would equal a contract price of $110,000.00 ($100,000 + $10,000).
Brokers Participation Accepted: A broker co-op will be paid to properly registered brokers. The broker registration form must be returned at least 48 hours prior to the auction.
Terms: Cash, due and payable at time of closing. Successful bidder will enter into a standard Minnesota Purchase Agreement. It will be at the Auctioneer’s discretion as to the increments of bids and process to reach the top and final bid.  Any financing (mortgage or otherwise), if necessary, should be made prior to the auction.  The property is sold without contingencies.
Closing: Remaining balance due on or before the 29th day of October 2009.
Preview of the property is essential prior to the auction!
Agency Disclosure: Schultz Auctioneers Landmark Realty, Inc. and Grafe Auction, Inc. are acting as a Seller’s broker in this transaction. A Seller’s broker is a broker who represents the Seller and acts on behalf of the Seller. Therefore, we will act in the Seller’s best interest and must tell the Seller any information disclosed to him or her. Therefore, the Buyer will not be represented and will not receive advice and counsel from the broker or salesperson. For further information, please contact our office for an Agency Relationships in Real Estate Transactions disclosure.
Reservations: Property is sold subject to easements of record, and owner’s confirmation.