Wednesday, April 19, 2017
McCurdy Auction, LLC
21st St. N. & Oliver - North to first drive, East to property.
The Sq. Ft. given is approximate and gathered from multiple sources, including the existing leases.
*Buyer should verify school assignments as they are subject to change. The real estate is offered at public auction in its present, “as is where is” condition and is accepted by the buyer without any expressed or implied warranties or representations from the seller or seller’s agents. It is incumbent upon buyer to exercise buyer’s own due diligence, investigation, and evaluation of suitability of use for the real estate prior to bidding. It is buyer’s responsibility to have any and all desired inspections completed prior to bidding including, but not limited to, the following: roof; structure; termite; environmental; survey; encroachments; groundwater; flood designation; presence of lead-based paint or lead based paint hazards; presence of radon; presence of asbestos; presence of mold; electrical; appliances; heating; air conditioning; mechanical; plumbing (including water well, septic, or lagoon compliance); sex offender registry information; flight patterns, or any other desired inspection. Any information provided or to be provided by seller or seller’s agents was obtained from a variety of sources and neither seller nor seller’s agents have made any independent investigation or verification of such information and make no representation as to the accuracy or completeness of such information. Auction announcements take precedence over anything previously stated or printed. Total purchase price will include a 10% buyer’s premium ($1,500.00 minimum) added to the final bid. Earnest money is due from the high bidder at the auction in the form of cash, check, or immediately available, certified funds in the amount $30,000.
This 25,282 Sq. Ft. retail center at 21st & Oliver St. sits on 3.91 Acres, conveniently located just minutes from Wichita State University and amenities. With the easy access to major highways and proximity to Wichita developments, this property offers a prime investment opportunity. The City is planning to widen Oliver St. and the lot itself is a common cross-lot for surrounding businesses, for increased visibility.
The exterior of the building includes a newer (2 yr. old) TPO roof (Appx. $100K). The building is on separate meters and all new electrical panels. The CH/CA is zoned air.
The building has three tenants, including: Beauty supply store (7,384 Sq. Ft.) at $3,500 per month on a five year lease with previous lease dates 11/10/11-11/10/16. Beauty salon (3,150 Sq. Ft.,) at $1550 per month with a security deposit of $1,000, on a five year lease with lease dates 3/1/15-2/29/20. Church (880 Sq. Ft.) at $450 per month with a security deposit of $450, on a lease with a month-to-month basis.
The additional 13,868 Sq. Ft. of vacant space includes a rent to own shop (3,600 Sq. Ft.) , a vacant tax office (8,00-1,000 Sq. Ft.) suite 5 (1,800 Sq. Ft.), a mechanical room (300-400 Sq. Ft.) and a storage area for Sun Mart (1,800 Sq. Ft.).