Auction Description

ATTENTION: HOT SPRINGS BUSINESS OWNERS, COMMERCIAL DEVELOPERS & INVESTORS!
22,000+/- SF, 2-Story, Poured Concrete & Brick Exterior Building & Adjoining Parking Lot ~ Incredible Location 1.5 Miles North of Oaklawn Racing & Gaming & 1/2 Mile South of Bath House Row in Downtown Hot Springs ~ BOTH, SELLING REGARDLESS OF PRICE TO THE HIGHEST BIDDER!
 

REAL ESTATE DESCRIPTION: This Prime Piece of Commercial Real Estate in Booming Downtown Hot Springs Could be Renovated & Remodeled to Suit Many Types of Income-Producing Uses ~ (TRACT 1) This 80 x 142 Ft. Commercial Lot w/Frontage Along Central Avenue & Pratt Street Contains a 22,000+/- SF, 2-Story, Poured Concrete & Brick Exterior Building, Built in 1945, is Structurally Sound & has a Unique Layout that Could be Utilized for Many Different Types of Businesses or Applications ~ Incredible Location on Central Avenue in the Booming Downtown Hot Springs Area, Less than 1/2 Mile South of Bath House Row ~ The 11,000+/- SF Lower Level (Formerly The Club Cafe, a Tire Shop & a Pawn Shop) Features 10 Ft. Drop Ceilings in the 6,000+/- SF Portion Currently Configured as Open Retail Space w/Glass Storefront, Office Space, Large Back Room that Served as a Past Kitchen, Storage Space & Restrooms ~ The Remaining 5,000+/- SF of the Lower Level has 12 Ft. Ceilings w/Exposed Metal Trusses that have been Used as a Secure Covered Parking Garage & a Tire Service Garage w/the 19 Ft. Wide x 11 Ft. Tall Overhead Door Entrance on Central Avenue, or it Could be Fully Enclosed for Many Other Uses ~ The 11,000+/- SF Upper Level w/a Separate Street-Level Entrance on Central Avenue & (2) Rear Entrances on Pratt Street (Formerly a Dance Hall/Night Club) Features 10 Ft. Ceilings ~ Poured Concrete Flooring ~ Huge Open 75 x 60 Ft. (4,500+/- SF) Room w/Large Windows Overlooking Central Avenue, Several Additional Large Open Rooms, Smaller Semi-Private Rooms, Offices & Storage Areas Plumbed for Several Restrooms ~ Adjoining the Building to the South is (TRACT 2) an Asphalt, Cleared Lot Approx. 60 Ft. Deep Fronting on Central Avenue (Currently Used as an 8-Space Parking Lot), Along w/a Paved Easement that Exits onto Pratt Street that Will be Offered Separately & in Combination w/the Building & Both are Selling Regardless of Price to the Highest Bidder on Auction Day! ~ This Property Needs a New Owner w/the Vision to Renovate & Remodel this Incredible Building in an Excellent Downtown Hot Springs Location ~ All City Utilities Available ~ Offers Made Prior to Auction Day 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 9:00 a.m. on Auction Day.

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:
$4,117.94 (Tract 1)
$362.40 (Tract 2)

TERMS: (TRACT 1) $30,000.00 ~ (TRACT 2) $5,000.00, 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.