Name 85 UNIT STORAGE FACILITY, OFFICE/WAREHOUSE, 1.26 ACRE
Auctioneer Massa Estate Group
Type Online-Only Auction
Date(s) 8/2/2017 - 9/6/2017
Wednesday, September 6, 2017 10:00 AM
Preview Date/Time Preview by appointement, Call Ethan for a private showing 615-419-8579- Open House Monday September 4, 2017- 10am-2pm
Checkout Date/Time 15% Deposit due within 48 hours of auction close via certified funds. Closing to take place no later than 30 days from the conclusion of the auction
Location 115 Woodruff Street
madison, TN 37115
Buyer Premium 10% Buyer's premium
Description
Absolute Online Auction by order of The Davidson County Chancery court. Robert Waldschmidt Receiver. On September 6, 2017, at 10am cst Massa Estate Group will conduct an online auction of 4 contiguous parcels of commercial property currently functioning as an operational self-storage facility. Property sits on approximately 1.26 acres and consists of 3 buildings, 11,000 sq ft mini storage facility, 1700 sq ft. office/ workshop, and 1700 sq ft storage building. 70% of the property is currently fenced. Online registration now open at www.massaestategroup.com " Great Value Add opportunity (Facility has not been actively run for 2 years) " Nashville Metro Area growing exponentially " Within one block of bustling Gallatin Rd corridor " 15% down, 30-day closing, 10% Buyers Premium " 1700 sq ft building has heated workshop and cooled office. " Room to grow on tract with salvageable building to add 90+ more units. " Electronically controlled access to the facility " 75% of facility has HVAC " www.massaestategroup.com to bid " Parcel 1- 101 Woodruff St., Madison, TN 37115 Parcel 042-16-0-190.00- vacant tract .06 ac " Parcel 2- 109 Woodruff St., Madison, TN 37115 Parcel 042-16-0-243.00 1680 sq ft warehouse built in 1987 on .5 ac lot " Parcel 3- 115 Woodruff St., Madison, TN 37115 Parcel 042-16-0-187.00- 11,000 sq ft mini storage facility on .34 ac lot, 87 total units, 85 rentable. Built in 1996. 8,675 sq ft rentable space, 6,725 sq ft climate controlled " Parcel 4- 201 Woodruff St., Madison, TN 37115 Parcel 042-16-0-185.00- .34 ac with 1930's 1700 sq ft warehouse, former telephone switchboard. " All properties to be sold as one
Payment: The Purchaser shall pay an amount equal to 15% of the total contract sales price to the Closing Attorney by 4:00 PM CT on September 8, 2017. The Closing Attorney shall accept the following forms of payment: wire transfer or cashier's check. There may be a fee associated with payment of the deposit or purchase money by wire transfer. Contact the Closing Attorney if you intend to pay this way. A $0.00 credit card authorization will be processed when submitting your first bid at this auction. The $0.00 is simply a pending hold on your card and is held by the credit card company for varying lengths but typically 24-72 hours. This $0.00 authorization is not actually charged to your card and if you are the winning bidder that payment will be a separate transaction. If you do not win any bids there will be no charges against your account. Buyer's Premium: There is a 10% Buyer's Premium in effect for this auction. UNRESERVED AUCTION. The Property shall be sold to the highest bidder regardless of price at unreserved public auction. The sale shall not be subject to any minimum bid or reserve price. Buyer's Premium: A ten percent (10%) buyer's premium will be added to the high bid price to determine the total contract sales price for the property. Auction Ending: Beginning at the stated closing time, the auction software will conclude bidding with the following exception: if a bid is placed in the last five (5) minutes remaining, bidding for that lot will remain open for an additional five (5) minutes. Agreement of Purchase and Sale: The Purchaser shall execute an agreement of purchase and sale, in the form provided by the auctioneer, without modification, immediately after being declared the high bidder. Cash Sale: This is a cash sale and is not contingent on Purchaser's ability to obtain financing. Payment: The Purchaser shall pay an amount equal to 15% of the total contract sales price to the Closing Attorney by 4:00 PM CT on September 8, 2017. The Closing Attorney shall accept the following forms of payment: wire transfer or cashier's check. There may be a fee associated with payment of the deposit or purchase money by wire transfer. Contact the Closing Attorney if you intend to pay this way. Closing Attorney: The purchase monies in respect of the property shall be paid to and deposited with Attorney's Title Company, Inc., Jeff Benz, contact. (615) 385-5502. 2927 Berry Hill Dr., Nashville, TN 37204. Deed: Seller shall provide a receiver's deed. Evidence of Title: The Seller agrees to furnish bidders a preliminary title commitment to review before the auction ending. Seller agrees to provide merchantable title to the Property subject to matters of record, general conditions of title and similar or related matters. All tracts sold "AS-IS". Closing: Closing will be within 30 days after auction. The Closing Attorney will schedule and conduct closing. Title Insurance: Purchaser may obtain an owner's title insurance policy in the amount of the purchase price from the Closing Attorney at the Purchaser's cost. Real Estate Taxes: Real estate taxes and assessments shall be pro-rated to the date of Closing. Other Closing Costs: The Purchaser shall pay a closing fee to the Closing Attorney. In addition, the Purchaser shall pay for any and all recording fees, transfer taxes, courier fees and all other sale, financing or closing fees as required. Please refer to the Estimated Buyer's Closing Costs document for a breakdown of estimated costs. Possession: Purchaser will receive possession at closing, subject to the rights of parties in possession and existing leases, if any. NO ASSIGNMENT. The Purchaser shall not assign his bid or obligation to purchase the Property to a third party without the prior written approval of the Auctioneer. As-Is Sale: The Purchaser shall accept the property in an as-is condition with all faults as of the closing date and the purchaser shall specifically agree that the Seller has not and does not make any representations or warranties of any kind whatsoever, expressed or implied, to the purchaser regarding the property or any improvements thereon. The property is selling subject to anything an accurate survey or personal inspection of the property may reveal, including any existing rights-of-way, easements or claims to easements, encroachments, rights or claims of parties in possession, restrictive covenants and easements, flood zones, zoning or subdivision regulations, building codes, governmental agencies regulations, environmental conditions, lead-based paint, asbestos, radon gas, hazardous materials, any mineral rights, water rights, riparian or littoral rights, and reservations or conveyances, if any. The purchaser shall have satisfied himself as to the location and condition of the property, and all descriptions thereof, before bidding. All information contained in the brochure and all promotional materials, including, but not limited to, square footages, acreage, dimensions, maps, taxes, etc., was provided by the Seller and is believed to be correct; however, neither the Seller nor the Auctioneer makes any guarantee or warranty as to the accuracy or completeness of such information. All dimensions and descriptions are approximations only based on the best information available and are subject to possible variation. Bidders should inspect the property and also review all of the pertinent documents and information available at Massa Estate Group as each bidder is responsible for evaluating the property and shall not rely upon the Seller, Broker, or Auctioneer. The Seller, Broker, Auctioneer, or their agents assume no liability for errors or omissions. The properties herein are being sold subject to federal, state and county laws, ordinances and regulations which may affect the property and its use, including all conditions, restrictions and limitations and other matters of record. "The property is being sold as-is and without any warranties or representations, expressed or implied." No claim will be considered for allowance, adjustment or rescission based upon failure of the property to correspond to any particular standard or exception. ENVIRONMENTAL DISCLAIMER: Seller, Brokers and Auctioneer do not warrantor covenant with Buyer with respect to the existence or nonexistence of any pollutants, contaminants, or hazardous waste prohibited by federal, state or local law or claims based thereon arising out of the actual or threatened discharge, release, disposal, seepage, migration or escape of such substances at, from or into the demised premises. Buyer is to rely upon his/her own environmental audit or examination of the premises. Personal Property: No personal property shall be conveyed in this real estate auction. No New Survey: The Property will be transferred according to the existing legal description. Agency: Massa Estate Group, Ethan Massa, and its representatives are exclusive agents of the Seller and are agents of no other party to this transaction. Miscellaneous: All decisions of the Auctioneer are final as to the methods of bidding, disputes among bidders, increments of bidding and any other matters that may arise before, during, or after the auction. Seller reserves the right to deny any person the right to participate in the auction or to ban anyone from the auction who attempts to disrupt it. Equal Opportunity Clause: All bidding is open to the public. The property is available to qualified purchasers without regard to a prospective purchaser's race, color, religion, sex, familial status, national origin, or physical handicap. Debt Collection and Interest Charge: The bidder agrees to pay all reasonable attorney fees and other costs incurred by Massa Estate Group in its efforts to collect unpaid funds from the bidder. The bidder agrees that a fee of 2% of the outstanding balance per month be added to any unpaid balance due Massa Estate Group. Any debt collection or dispute proceedings will be heard in Davidson County, Tennessee. Guaranty Agreement: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorney's fee. Age Requirement: All bidders must be 18 years of age or older. Bidder Information and Security: All registration information the bidder provides to Massa Estate Group shall be current, complete, and accurate. All bidders are responsible for any bids placed under their bidding numbers and passwords. The security of bidder information is the responsibility of the bidder. Bidders must notify Massa Estate Group if they believe that their bidder number and password have been compromised. FOREIGN OWNERSHIP RESTRICTIONS. The Property may be subject to foreign ownership restrictions. Bidder acknowledges that it is Bidder's sole responsibility to make any necessary enquiries, including without limitation consulting with legal advisors, prior to bidding to ensure they are legally eligible to purchase the Property. Seller: Robert Waldschmidt, Receiver
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 500,000.00 25,000.00 USD
500,000.01 - 600,000.00 5,000.00 USD
600,000.01 - 9,999,999.99 1,000.00 USD
Currency USD
Buyer Premium 10% Buyer's premium
Payment Terms
The Purchaser shall pay an amount equal to 15% of the total contract sales price to the Closing Attorney by 4:00 PM CT on September 8, 2017. The Closing Attorney shall accept the following forms of payment: wire transfer or cashier's check. There may be a fee associated with payment of the deposit or purchase money by wire transfer. Contact the Closing Attorney if you intend to pay this way. A $0.00 credit card authorization will be processed when submitting your first bid at this auction. The $0.00 is simply a pending hold on your card and is held by the credit card company for varying lengths but typically 24-72 hours. This $0.00 authorization is not actually charged to your card and if you are the winning bidder that payment will be a separate transaction. If you do not win any bids there will be no charges against your account. Buyer's Premium: There is a 10% Buyer's Premium in effect for this auction.
Closing will be within 30 days after auction. The Closing Attorney will schedule and conduct closing.