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ABSOLUTE RESORT MOTEL REAL ESTATE AUCTION ~ BULL SHOALS, AR

Date

Tuesday, May. 21, 2019 at 1:00 PM CST

Auction Location

1512 Central Boulevard, Bull Shoals, Arkansas 72619

Real Estate Description

ATTN: RESORT & MOTEL OWNERS, REAL ESTATE DEVELOPERS & RETAIL & COMMERCIAL INVESTORS! 
2.07+/- Acres in Bull Shoals, AR ~ Mar Mar Resort ~ 13 Units w/Separate Building Currently a Fishing
Tackle/Supplies & Guide Shop w/Living Quarters ~ Surrounded by Vacant Lots for Future Expansion 
or Development ~ All Zoned C-2 w/City Utilities ~ At the Corner of HWY 178 (Central Blvd.) & 
Shorecrest Drive ~ Offered in 3 Tracts & Combinations ~ Live, Online Bidding Available ~ 
SELLING REGARDLESS OF PRICE TO THE HIGHEST BIDDER ON AUCTION DAY!

REAL ESTATE DESCRIPTION:  2.07+/- Acres will be Offered in 3 Tracts ~ (TRACT 1) Lots 9-14, is a 13 Room Resort Motel & Separate Building w/Retail Space & Living Quarters, 400+/- Ft. of Frontage on HWY 178/Central Blvd. & 130+/- Ft. Deep ~ Includes a 12 x 24 Ft. Storage Building ~ Lot 9 is the Corner Lot, 50+/- Ft. of Frontage on HWY 178/Central Blvd. & 130+/- Ft. of Frontage on Shorecrest Dr. ~ (TRACT 2) Lots 15 & 16, is Prime Commercial Development Property ~ Each Lot is 50 x 130 Ft. (100+/- Ft. of Frontage on HWY 178/Central Blvd.) ~ (TRACT 3) Lots 7 & 8, has 257.7+/- Ft. of Frontage on Shorecrest Dr. & 250+/- Ft. Deep ~ All Lots are Zoned C-2 w/City Water & Sewer, Electricity by Entergy, Cable by Suddenlink, Internet & Telephone by NATCO ~ A 500 Gallon Tank Provides Propane for the Motel & Separate Building ~ Real Estate Taxes $1,758.99.

BUSINESS DESCRIPTION:  An Operational 13 Room Resort Motel w/Separate Building for Office/Retail w/Living Quarters ~ 9 Standard, 1 Bedroom Units Rent for $62.00 Per Day & 4 Deluxe, 1 Bedroom Units w/Kitchenettes Rent for $73.00 Per Day ~ Weekly & Monthly Rates Available ~ The Separate Building is used as the Resort Office, Bait & Tackle Retail Sales, Fishing Guide Office & Living Quarters (2BR/ 1.5BA) for Owner/Operator ~ Originally Built in 1953, Owned & Operated by Current Owners Since 2004 ~ Lots of Repeat Business ~ Separate Building Could be Leased for Fishing Guide & Tackle Retail Business ~ Rooms have Window A/C Units & Space Heaters & Refrigerators ~ Separate Building has CH/A ~ Lots 7-8 Could have Potential RV Hookups, Mini Storage or Boat & RV Storage ~ Lots 15-16 have New Development Potential for Commercial use.

AUCTION DETAILS:  This Auction will be Conducted using a Multi-Par Auction Method in (3) Tracts & Any Combination of Tracts ~ Every Tract to be Sold Regardless of Price to the Highest Bidder on Auction Day!

AUCTIONEER’S NOTE:  North Central Arkansas enjoys a diverse economy; due to Bull Shoals Lake, Lake Norfork, the White River and the Norfork River, recreation and tourism along with a popular retirement community drive a low unemployment rate, a highly active housing market, and quality living conditions.  The Mar Mar Resort is a well-established resort with many repeat clients.  Don’t miss this tremendous business and investment opportunity to own an excellent, turn-key business and development property!

TERMS ON REAL ESTATE:  (TRACT 1) $12,500.00 ~ (TRACT 2) $5,000.00 ~ (TRACT 3) $2,500.00, All in the Form of a Cashier’s Check made Payable in Your Name or Wilson Auctioneers, Inc. Down Day of Auction, as Earnest Money ~ Balance Due at Closing ~ Closing within 30 Days ~ Title Insurance with Warranty Deed Provided at Closing ~ 10% Buyer’s Premium ~ Offers Prior to Auction are Welcome! ~ All Information was Provided by Reliable Sources but Not Guaranteed.

INSPECTION:  Inspect this Property Anytime or Contact Agent, Chuck Dicus at 501-920-7511/ chuck@wilsonauctioneers.com for Additional Information ~ Auctioneers will be On-site at 12:00 p.m. Day of Auction.

DIRECTIONS:  Corner of State HWY 178 (Central Blvd.) & Shorecrest Dr., Downtown City of Bull Shoals ~ Watch for Auction Signs.

Aerial View

Legal Description

Auction Location

Terms

TERMS AND CONDITIONS:  (TRACT 1) $12,500.00 ~ (TRACT 2) $5,000.00 ~ (TRACT 3) $2,500.00, All in the Form of a Cashier’s Check made Payable in Your Name or Wilson Auctioneers, Inc. Down Day of Auction, as Earnest Money ~ Balance Due at Closing ~ Closing within 30 Days ~ Title Insurance with Warranty Deed Provided at Closing ~ 10% Buyer’s Premium ~ Offers Prior to Auction are Welcome!

CLOSING COMPANY:  North Arkansas Abstract & Title Company ~ Closing Agent: Tanner Ott ~ 311 E. Old Main Street, Yellville, Arkansas 72687 ~ (870) 449-4207 ~ Fax/ 449-5724.

REAL ESTATE TAXES FOR YEAR 2018:  $1,758.99

TERMS OF AUCTION