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CENTRAL AVENUE ABSOLUTE COMMERCIAL REAL ESTATE AUCTION ~ HOT SPRINGS, AR

Date

Thursday, Jun. 6, 2019 at 10:00 AM CST

Auction Location

1239 Central Avenue, Hot Springs, Arkansas 71901

Real Estate Description

ATTENTION: HOT SPRINGS BUSINESS OWNERS, COMMERCIAL DEVELOPERS & INVESTORS!
27,000+/- SF Under Roof on 2.7+/- Total Acres Zoned C-4 w/ 245+/- Ft. of Central Avenue Frontage ~
Incredible Location 1 Mile North of Oaklawn Racing & Gaming & 1 Mile South of Downtown Hot Springs ~
SELLING REGARDLESS OF PRICE TO THE HIGHEST BIDDER ON AUCTION DAY!

REAL ESTATE DESCRIPTION:  This Prime Commercial Property w/ 245+/- Ft. of Central Avenue Frontage Consists of Commercial Buildings & Structures Totaling 27,000+/- SF Under Roof, on 2.7+/- Total Acres Zoned C-4, in an Incredible Location 1 Mile North of Expanding Oaklawn Racing & Gaming Park & 1 Mile South of Booming Downtown Hot Springs, w/an Average Daily Traffic Count of 21,000 Making this a Perfect Location & Property for Nearly Any Type of Business or Hotel & it's SELLING REGARDLESS OF PRICE TO THE HIGHEST BIDDER ON AUCTION DAY! ~ The Property will be Offered in (3) Individual Tracts & Combinations ~ (TRACT 1) 1.37+/- Acres Consists of a 27,000+/- SF Under Roof Structure (Originally Resort Ford Dealership & Service Center) w/Glass Front Auto Showroom Facing the 245+/- Ft. of Central Avenue Frontage, Office Space, Attached 70x75 Ft. Shop Building w/Additional Parts & Service Departments & Detached 60x80 Ft. Heated & Cooled Metal Building w/ 14 Ft. Sidewalls & (2) Overhead Doors, Covered Carport Areas & Fenced Lots w/Ample Asphalt Parking Around the Building & Entrances Along the 297+/- Ft. of Frontage on Maurice Street & Additional 160+/- Ft. of Frontage on Oak Street Provides a Rear Entrance/Exit to the Property ~ (TRACT 2) 1.01+/- Acres Lying just South of Tract 1 Across Maurice Street is Cleared, Level & Ready to Build on w/ 353+/- Ft. of Frontage Along Maurice Street ~ (TRACT 3) 0.32+/- Acres Lying just East of Tract 1 Across Oak Street is Cleared, Level & Ready to Build on w/ 110+/- Ft. of Frontage Along Oak Street ~ City Water, Electricity, Natural Gas & Septic System to Property ~ Offers Made Prior to Auction Day on the Real Estate are Welcome!

Click here to View the Personal Property Listing

TERMS ON REAL ESTATE:
 (TRACT 1) $40,000.00 ~ (TRACT 2) $7,500.00 ~ (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 ~ Property Sold Free & Clear of any Liens & Encumbrances ~ 10% Buyer’s Premium ~ Offers Prior to Auction are Welcome.

INSPECTION:  Contact Agent, Doug Westgate at 501-815-4004/ doug@wilsonauctioneers.com to View this Incredible Property Today! ~ Doors Open & Auctioneers will be On-site at 8:00 a.m. on Auction Day.

DIRECTIONS:  From the Intersection of Central Ave. & Grand Ave. in Hot Springs, Travel 0.1 Mile South on Central Ave. ~ Watch for Property & Auction Signs on the Left.

Aerial View

Tract 1, Legal Description

Tracts 2 and 3, Legal Description

Auction Location

Terms

TERMS AND CONDITIONS:  (TRACT 1) $40,000.00 ~ (TRACT 2) $7,500.00 ~ (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 ~ Property Sold Free & Clear of any Liens & Encumbrances ~ 10% Buyer’s Premium ~ Offers Prior to Auction are Welcome.

CLOSING COMPANY:  Lenders Title Company ~ Closing Agent: Shanda Dunlap ~ 110 Ouachita Avenue, Hot Springs, Arkansas 71901 ~ (501) 624-2541 ~ Fax/ 623-4552.

REAL ESTATE TAXES FOR YEAR 2018:  (TRACT 1) $4,350.64                  (TRACT 2) $391.65                  (TRACT 3) $171.38

TERMS OF AUCTION