Commercial Property Auction: High Traffic Site | Lenexa, KS

Wednesday, November 16, 2016 12:00 PM

Cates Auction & Realty Co., Inc.

From 1-435, east on W. 87th St. OR from I-35, west on W. 87th St. then north on Pflumm to 8610 (next to CVS)

AUCTION TERMS AND CONDITIONS:

 

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).

 

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.

 

Lenexa, KS US
For Sale at Auction! Former Fast Food Restaurant on 1.63 Acres

This site was home to a successful Sonic operation for many years and is ready for a new venture. Perfect for restaurant or professional services office. 1.63 acres near busy corner of Pflumm and W.87th. Adjacent to national brands.


SITE INSPECTIONS: WEDNESDAYS, NOV. 2ND & 9TH; 12:00-1:00PM

For Sale at Auction! Former Fast Food Restaurant on 1.63 Acres

This site was home to a successful Sonic operation for many years and is ready for a new venture. Perfect for restaurant or professional services office. 1.63 acres near busy corner of Pflumm and W. 87th Street. Adjacent to national brands.

SITE FEATURES

  • Acres: 1.63 (70,934 sq. ft.)
  • Configuration: Slightly irregular
  • Topography: Gently rolling below grade
  • Surface: Approximately 16,000 sq. ft. concrete, striped for 46 vehicles
  • Utilities: All available
  • Zoning: CP2; Planned Community Commercial (Lenexa)
  • Signage: 3 lighted monument signs on brick bases - Pflumm Road (84x43); access road (25x25 -2)
  • Frontage:    197’ Pflumm Road (north/south traffic w/sidewalks)

                                        331’ South Access Drive

                                        312’ North Access Drive

  • 2016 tax appraisal: $791,000 (Land=$496,540; Improvements=$294,460)
  • 2015 taxes: $21,655.54
  • Legal description (abbreviated): HERITAGE SHOPS LT 1 LEC 791 1
  • Parcel ID: IP30160000 0001

BUILDING FEATURES

  • Type: Single story; free-standing
  • Constructed: 1996
  • Use: Former Sonic restaurant. Currently vacant.
  • Gross building area: 1,498 sq. ft.
  • Structure: Steel columns and beans on poured concrete foundation
  • Exterior: Brick veneer with flat rubber membrane roof
  • Interior spaces: Kitchen/prep, service/counter, dishwashing, beverage dispensing, dry storage, 2 restrooms, 2 walk-in cooler/freezers. 2 entrances.
  • Interior finish: Ceramic tile floor, fiberglass panel walls and ceiling with recessed fluorescent lighting. 2 commercial hoods/fans built in.
  • Canopies (2): Approx. 5,850 sq. ft. covering 30 vehicles
  • Mechanical: Forced air gas heat and central air conditioning
  • Electrical: Two 250 Amp, 120/240 volt, 3 phase, 4 wire

LOCATION FEATURES

  • Highway service: I-35 (1.25 miles east) and I-435 (2 miles west)
  • Thoroughfare access: Pflumm Road and 87th Street Parkway
  • Area development: Mixture of retail, office, light industrial, single and multi-family residential.
  • Neighboring businesses: CVS, Hy-Vee, Pizza Hut, Jiffy Lube, McDonald’s, Subway
  • Lenexa, KS (Johnson County): Highly desirable community with steady residential and commercial growth located 12 miles southwest of Kansas City, Missouri.

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.
  3. Bid live onsite. Registration opens one hour before the auction. See terms for requirements.

Per the published auction terms, this property is available for sale prior to the auction. To qualify, all pre-auction offers must meet all auction terms and be submitted on the provided Cates Real Estate Sale Contract along with the required deposit. All qualifying offers will be presented to the Seller for a timely response. Please contact our office for assistance if needed.

Disclosure: This property is under continuous video surveillance.

Photo Gallery

Disclaimer:

Announcement: Information contained herein is presented on behalf of the seller. Cates Auction & Realty Co., Inc., agent for the seller, cannot guarantee the information to be correct or assume the liabilities for errors and omissions. All lines drawn on maps are approximate. Buyers should verify the information to their own satisfaction. Any announcements made from the auction block on day of auction will take precedence over any matter of print and will be final.