1770 Ashville Road, Leeds, AL 35094 (St. Clair County)
Auction: Lender Owned Absolute Auction of Retail & Restaurants in AL-FL-NC-SD-TN-WY


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Property #105
1770 Ashville Road, Leeds, AL 35094 (St. Clair County)
SELLS REGARDLESS OF PRICE
6,200±SF Restaurant on 1.5± Acres
Selling Online Only
Bid Deadline: Thursday, May 24 at 12:00 PM CT
Closing Deadline: Tuesday, June 26, 2018
Inspection: Monday, May 14 & Monday, May 21 at 2:00 PM CT SHARP. An Auction Right of Entry form must be signed in order to gain access to the building which releases seller from liability in the event of accidents while onsite.
Sale Manager: Jeb Howell, 770-980-9565, info@amcbid.com
 
Property Description: Former restaurant built ca. 2003 on 2± acre lot. St Clair County GIS and tax records indicate the lot is 2.1 acres, and has 246± feet of Ashville Road (US Hwy 411) frontage, and 353± feet of Sharp Drive frontage on the south, which also wraps around the property on the west side. It is located in a “restaurant row” just south of the I-20 Exit 144 interchange, along with a Wal-Mart, Walgreens, and numerous motels and service stations. A pylon sign is included on Ashville Road. There are well over 100 marked parking spaces visible from the aerial view in the large parking lot which surrounds the building.
 
A June 12, 2006 Phase 1 Site Assessment did not reveal the presence of any recognized environmental conditions (RECs) in connection with the site.
 
St. Clair County Parcel# 26-05-15-0-001-005.010
St. Clair County Assessed Value $893,000
2017 Taxes $7,198
 
    Julian E Howell, III AL Lic #1682
 
This auction features a grouped bid extension - please see details in terms below.
 
Terms:  Bank Proof of Funds Required to Bid, 10% Buyer’s Premium added to winning bid to determine sale price, 10% Earnest Money Deposit, close by June 22, 2018. Auctioneer is not responsible for bidding errors caused by internet outages, bid platform failures, or power failures.
 
All of the properties sell individually as "lots" however they are all tied together by the auction clock. We will set a bid deadline for all of the assets. Once we get within 5 minutes of that bid deadline, any bid placed on Any of the assets will extend All of the assets another 5 minutes. This extension will continue until no bids are placed on any of the assets in a five-minute window.
 
This feature is in place partially to prevent "sniping" which can occur on online auctions with a hard deadline. It recreates the action of a "Live Auction". If your opponent bids in the waning seconds of the auction, you still get another chance to bid.
 
With that in mind, don't wait out the bid until the last second, as it can put you at risk for not getting your bid in before the 5-minute clock runs out.