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View of Both Buildings in Hwy 80 Office Park
Parking side view from behind
Building 1 rear of building
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BUILDING #1: +/-14,654 sf on +/-1.88 ac. Income-Producing Property on busy Hwy 80 near the intersection of Hwy 80 and Ellis Ave., just off I-20. This property has some visibility from I-20.
This office building was initially listed together with the other office space we have up for auction. We are now selling them SEPARATELY and they will be sold ABSOLUTE - with NO MINIMUM * NO RESERVE! The original listing price on the pair of buildings was $650,000. The Hinds County Tax Assessor's office has valued the property at $647,910.
The property will be sold as Building One and Building Two. Access to both properties will be by non-exclusive easement for ingress and egress to Hwy 80 as presently laid out and improved. Use of the parking lots shall be shared by reciprocal parking and access easements which define the use and maintenance of the parking lots.
Building #1 and Building #2 will be SOLD WITHOUT RESERVE on Thursday, November 12 at 12:00 Noon.
YOU CAN'T MISS THIS OPPORTUNITY!
- CURRENT INCOME/ANNUAL RENT: $56,463.96
- Occupancy Rate: 10,810 sf or 73%
- Effective Occupancy Rate: 7,104 sf or 48%
- Donated Space*: 3,706 sf or 25%
- Vacancy Rate: 3,844 sf or 27%
- Built in 1977 (according to Tax Records)
- Wood Frame building
- Brick Veneering
- Asphalt shingles
- Average Rental Rate: $8.03 sf - Full Service
- Seller's Insurance Rate for Building 1: $3,500.00
- Annual Taxes for Building 1: $8,277.90
*The donated space is on a Month-to-Month basis and will be up to the discretion of the Buyer as to the terms of that space.
Auction Terms
REAL ESTATE TERMS AND CONDITIONS
BLUE SKY AUCTIONS, LLC
KELLY HOGUE, CAI, AARE, CES
REGISTRATION: In order to obtain a bidder’s number, you must present a valid driver’s license and a cashier’s check in the amount of $5,000. (We do not take these up, you simply show the certified funds to register to bid.) This cashier's check will be made payable to yourself. If you are the successful bidder, you will simply sign it over to the auction company and we in turn sign it over to the closing attorney to be held as earnest money in escrow until closing. If you are not the high bidder, the cashier's check is in your name and your possession to do with as you will. We receive this question often and it is important that you understand that it does not cost money to register to bid, the cashier's check will stay in your possession and you only need to show it at registration in order it to register to bid.
REAL ESTATE TERMS: The high bidder will be required to place a non-refundable bid deposit of $5,000, which will be held as earnest money in escrow until closing and will then be credited to the buyer as part of the purchase price of the property. The successful bidder must sign the real estate contract immediately upon conclusion of the bidding with the closing to take place within 30 days from the date of the auction. No purchase shall be contingent on financing or any other contingencies. Buyer is entitled to and the seller will provide a deed marketable title for property upon full payment.
CONDITION OF PROPERTY: Property is sold "AS IS, WHERE IS" condition and neither Kelly Hogue, auctioneer of Blue Sky Auctions, LLC, the sellers, nor their representatives, agents, or employees make express or implied warranties or representations of any kind.
BUYER’S PREMIUM: A buyer’s premium of 10% will be added to the high bid to determine the total price for the real estate.
DISCLAIMER: Announcements made at the auction supersede all printed material or any oral statements made by anyone employed by, representing, or associated with Blue Sky Auctions, LLC. All information included herein was derived from sources believed to be correct, but is not guaranteed.
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