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Auction Description

(6) Commercial Buildings on 2.22+/- Acres Conveniently Located in Hot Springs Village 2 Miles from the Main Gate ~ Exceptional Income Potential ~ Selling On-site w/Live, Online Bidding Available ~

REAL ESTATE DESCRIPTION: This Prime Commercial Development inside the Gates of the Hot Springs Village Consists of (6) Stand-Alone, Single-Story Commercial Buildings, Including a Duplex & a Triplex Ranging in Size from 1,764+/- SF to 3,600+/- SF on 2.22+/- Total Acres, w/Ample Paved Parking, Low Maintenance Professional Landscaping & Sidewalks ~ Currently, 3 of the 9 Leasable Units are Leased & Occupied, Giving a Potential Buyer Both Incredible Future Income-Producing Potential & the Flexibility to Utilize or Lease-Out the Remaining Units ~ This Property is Conveniently Located 2 Miles inside the Main H.S.V. Gate in Proximity to the DeSoto Golf Course & DeSoto Lake & will be Offered in (3) Individual Tracts & Combinations & it is Selling Regardless of Price to the Highest Bidder on Auction Day! ~ (TRACT 1 ~ 0.66+/- AC) Commercial Corner Lot w/Road Frontage on Calella Dr. & Los Lagos Dr. w/ 12 Asphalt Parking Spaces & 2-Lane Covered Drive-Thru Containing a 3,600+/- SF Building, Currently Unoccupied (Formerly a Regions Bank Branch & Wells Fargo Office) ~ (TRACT 2 ~ 0.51+/- AC) Professionally Landscaped Commercial Lot w/ 24+/- Asphalt Parking Spaces & Sidewalks Containing (2) Buildings ~ Building 1 ~ 2,500+/- SF Wood Siding & Rock Accent Commercial Triplex w/Cedar Shake Roof, Currently Unoccupied ~ Building 2 ~ 1,764+/- SF Wood Siding & Rock Accent Building, Currently Leased & Operating as O’Neal Electric ~ (TRACT 3 ~ 1.05+/- AC) Commercial Lot w/Over 60 Asphalt Parking Spaces Containing (3) Buildings ~ Building 1 ~ 2,054+/- SF Wood Siding & Rock Accent Building, w/Newer Architectural Shingle Roof, Currently Leased & Operating as KVRE 92.9 FM Radio Station ~ Building 2 ~ 2,406+/- SF Wood Siding & Rock Accent Building, w/Newer Architectural Shingle Roof, Currently Leased & Operating as Air Control Heat & Air ~ Building 3 ~ 2,588+/- SF Wood Siding & Rock Accent Commercial Duplex Building, w/Cedar Shake Roof, Currently Unoccupied ~ All City Utilities ~ This Property will be Offered in (3) Tracts & in Combinations on Auction Day! ~ REMEMBER, IT’S ALL SELLING REGARDLESS OF PRICE TO THE HIGHEST BIDDER! ~ Offers Made Prior to Auction Day are Welcome!

INSPECTION: Unoccupied Buildings can be Inspected at Any Time
~ Contact Agent,
Doug Westgate at 501-815-4004/ doug@wilsonauctioneers.com ~ Doors Open & Auctioneers will be On-site at 10:00 a.m. for Inspection 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 2020: Total Taxes (Including Grocery Store not Included in Auction) $9,892.00, Actual Tax for Individual Tracts yet to be determined.

TERMS: $15,000.00 (PER TRACT), 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 Day are Welcome.


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