Auction Description

ATTENTION: MOTEL OPERATORS, BUSINESS OWNERS & REAL ESTATE INVESTORS!
16-Unit Remodeled & Updated Motel w/New Office, 3/2 Home & 3,920+/- SF Metal Building on 3.11+/- Acres Only 1.5+/- Miles from Greers Ferry Lake Along HWY 16/92 in Greers Ferry, AR ~ Offered in (2) Tracts & in its Entirety ~ Selling On-site w/Live, Online Bidding Available ~ SELLING REGARDLESS OF PRICE TO THE HIGHEST BIDDER ON AUCTION DAY!

REAL ESTATE DESCRIPTION: This 3.11+/- Acres Containing ‘The Klassic Inn’ (a Turnkey 16-Unit, Fully Operational, Income-Producing Motel w/a Brand New Office Building), a Move-in Ready 1,600+/- SF, 3 Bedroom/ 2 Bath Home & a 3,920+/- SF Metal Building Offered in (2) Tracts & in its Entirety ~ (TRACT 1) 8546 Edgemont Road ~ 2.53+/- Acres Consists of a 6,000+/- SF, 16-Unit Motel that was Completely Remodeled & Updated in 2020, Including (2) King Bedrooms & (14) Double Queen Bedrooms ~ Vinyl Siding Exterior ~ New Architectural Shingle Roof ~ All Freshly Painted Rooms ~ New Waterproof Luxury Vinyl Plank Flooring ~ New Permanent Shiplap Headboards ~ New Mattresses ~ All New Bedding ~ All New Faux Wood Blinds ~ All Rooms have Newer Working Heat & Air Units, Mini-Fridge, Microwave, Coffee Maker, Flat Panel TV, Table & Chairs ~ Mirrors ~ Clothes Hanging Rod ~ Hairdryer ~ Towels ~ Full Bath & Vanity Area ~ Attached Laundry/Housekeeping/Maintenance Room w/Commercial Washers & Dryers, (2) New 80-Gallon Commercial Gas Hot Water Heaters, Housekeeping Carts & Supplies, Tons of New Linens & Towels & (2) New Backup HVAC Units (Still in the Box) ~ Detached Storage Building Behind Motel Houses Additional Supplies ~ Brand New Detached Office Building Built in 2020 Features Attractive Wood & Stone Exterior w/Architectural Shingle Roof, Fully Furnished Interior w/Shiplap Walls, Tin Ceilings, Painted Concrete Floors, Large Receptionist Desk, Lobby Sitting Area, Kitchenette, Bathroom, Private Business Office, Multi-Camera Security System ~ 1,600+/- SF, 3 Bedroom/ 2 Bath Fully Furnished Vinyl Siding Exterior Home w/New Architectural Shingle Roof is Currently an Excellent VRBO Property ~ This Tract has the Additional Acreage Needed to Expand the Motel or Build More Rental Homes ~ (TRACT 2) 49 Medical Lane ~ 0.58+/- Acres Containing a 3,920+/- SF, L-Shaped, Open Span Metal Building w/ 14-Foot Sidewalls, Poured Concrete Floor & 1 Overhead Door, Perfect for Many Different Types of Businesses ~ City Water w/Septic, Electric, Natural Gas, Internet & Cable Available to Both Tracts ~ Remember, this Incredible Income-Producing Property is Selling Regardless of Price to the Highest Bidder on Auction Day!

AUCTIONEER’S NOTE: Do not miss this tremendous business and investment opportunity to own an excellent turnkey income-producing business with room for expansion in a great tourist area.

INSPECTION: Inspect this Property Anytime by Contacting Agent, Doug Westgate at 501-815/4004 doug@wilsonauctioneers.com or for Additional Information ~ Auctioneers will be On-site at 10:00 a.m. Day of Auction.

CLOSING COMPANY: General Land & Title Service ~ Closing Agent: Tena Ramer ~ 107 South 3rd Street, Heber Springs, Arkansas 72543 ~ (501) 362-7566 ~ Fax/ 362-8299.

REAL ESTATE TAXES FOR YEAR 2020:
(TRACT 1) $3,731.63
(TRACT 2) $763.35

SCHOOL DISTRICT: Greers Ferry

TERMS: (TRACT 1) $25,000.00 ~ (TRACT 2) $10,000.00, 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 ~ Offers Prior to Auction are Welcome!

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