2702 Central Avenue, Estherville, IA 51334
Auction: Lender Owned Auction of 11 Retail & Restaurants in 7 States -- ALL SELLING REGARDLESS OF PRICE!

2702 Central Avenue, Estherville IA 51334 (Emmet County)
SELLS REGARDLESS OF PRICE
20,000±SF Retail Bldg. on 4.6± Acres
Selling Online Only
Wednesday, August 9 at 12 NOON CT
Closing Deadline: September 13, 2017
Inspection: Saturday, August 5,  1:00-3:00 PM
Sale Manager: Paul McCartan, 515-320-7600, paul@grafeauction.com
 
Property Description:  Former Pamida/ Shopko Store, built ca. 1976 with a renovation in 1994. Metal sided and sprinklered. On L-shaped tract, with 200’ Central Avenue frontage due to an outparcel carved out of the original tract. Tax Parcel 0513100008. Zoned CM-Commercial. There are 113 parking spaces, 6 of which are handicapped.

A June 9, 2005 environmental site assessment revealed no recognized environmental conditions (RECs) in connection with the site. However, asbestos containing materials were found on the site. Subsequently, in September, 2005, an Operations and Maintenance Program Report was generated to minimize hazards from the ACMs.

 
 
Auction Conducted in Conjunction & Cooperation with:
Grafe Auction & Realty in Cooperation with Sale Barn Realty & Auction LLC, Richard Winegarden, 712-358-0974,  401 1/2 East Elm, Pocahontas, IA, Lic #F04384000
 
 
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 September 13, 2017. 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.