Vaughn-Roth Land Brokers
Date(s) 9/12/2024 - 9/13/2024
Beginning at 12:00 p.m. on 9/12/24 with a dynamic closing to start at 12:00 p.m. on 9/13/24
Bidding opens in
11d 2h 42m
Online-Only Auction
Shipping Not Available
Bidding Notice:
Buyers are to review the Terms and Condtions of Sale prior to bidding. Buyers will need to submit a letter of credit or proof of funds from their bank before Registration will be approved. This information can be emailed to Cameron@VaughnRoth.com
Auction Information
Name | Commerical Lot - 1.57 AC - Coffey County, KS |
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Auctioneer |
Vaughn-Roth Land Brokers
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Type | Online-Only Auction |
Date(s) | 9/12/2024 - 9/13/2024 |
Auction Date/Time Info |
Beginning at 12:00 p.m. on 9/12/24 with a dynamic closing to start at 12:00 p.m. on 9/13/24
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Preview Date/Time | 9/12/24-9/13/24 |
Checkout Date/Time | 9/13/24 |
Location |
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Buyer Premium | 10% buyer's premium added to high bid |
Description |
ABSOLUTE AUCTION
Commercial Property in Burlington, KS
Selling to the highest bidder without reserve!
Selling online September 13th, 2024
Vaughn-Roth Land Brokers presents an excellent opportunity to purchase this commercial property totaling 1.57 acres in a high-traffic area with potential upside in spades! This real estate will be sold to the highest bidder via online auction that will begin at Noon on 9/12/2024 with a dynamic closing beginning at Noon on 9/13/2024.
This offering features high-quality existing neighboring businesses on its’ west flank including the recent addition of a thriving Bomgaar’s store and the long-established Hoover’s Thriftway which is the most visited grocer in the County. Across the street to the south, you’ll find the busiest hotel in the County, a bustling hardware store, a popular Mexican restaurant, the K-State Extension office and the Farm Service Agency/USDA offices. Other businesses located within a half mile of the subject property are multiple convenience stores and restaurants.
Both the physical location and the County in which this property resides are both very appealing. Proximity to Highway 75 is a tremendous attribute here. Being located less than 700’ away from the main intersection in north Burlington, elevated signage can easily be seen from the highway. This intersection has a daily traffic count in excess of 6,000 vehicles with excellent access due to traffic flow being regulated by stoplight. Coffey County boasts one of the lowest mil levies and property tax rates in the entire State. The County is very active with multiple current and prospective large development projects including the Kansas Semiconductor Manufacturing Consortium (KSMC), Secure Semiconductor Manufacturing (SSM) and the new law enforcement center. Please find the following link to Coffey County Economic Development for more information related to this business-friendly County: https://www.coffeycountyks.org/193/Economic-Development
For those who like to bet on the come, potential development projects that are currently being discussed and planned may be the most exciting factor to your investment equation. Adjacent to the north is the property that has been proposed for development of a 65-70 room hotel/amphitheater/restaurant project of which we have included some recent press about in the “Related Documents” section on our website. This proposed development is being spear-headed by a group of proven investors who have developed multiple hotel and residential properties in Kansas.
Please contact the listing broker, Cameron Roth at 785-917-0867 to discuss this excellent opportunity that is knocking at the investor/speculator’s door!
THE HIGHLIGHTS:
* Successful and thriving neighboring businesses
* Near high-traffic intersection
* Within sight of U.S. Highway 75
* Primary daily needs shopping center for the market
* Proposed new commercial development adjacent to the north
* Proximity to Burlington High School
* Commercial Zoned
* Low tax rates
* CAMA# 136-23-0-20-02-003.01-0-01
* Property Taxes: $91.96
Please find the Preliminary Title Commitment in the "Related Documents" section for your review.
For information regarding water and sewer service, please contact Danny Hawkins at 620-364-8332.
For information regarding electrical services, please contact Alan Schneider at 620-364-5575.
For information in regards to zoning, please contact Jimmy Hugunin at 620-364-5334.
Auction Details: Beginning at 12:00 p.m. on 9/12/2024 with a dynamic closing to start at 12:00 p.m. on 9/13/2024.
Physical Address: 300 Cross St., Burlington, Kansas 66839
Legal Description: Lots 17-24 in Section 23, Township 21 South, Range 15 East of the 6th P.M., Coffey County, Kansas. 1.57 Acres.
Driving Directions: From Hwy 75, turn east on Cross Street at the north stoplight and travel approximately one block and the property begins on the north side.
Earnest Money: The earnest deposit in the amount of 10% of the final sale price shall be tendered to Coffey County Land Title on the day of the sale via wire or personal check. Remaining balance due at the time of closing. The earnest money is non-refundable unless the Seller cannot deliver marketable title at the time of closing.
Buyer's Premium: There will be a 10% buyer's premium added to the high bid to determine the final contract price with that total being paid by the Buyer.
Property Taxes: $91.96
Possession and Closing: Full possession shall be at closing, on or before October 15th, 2024.
Disclosure: Yellow boundary property lines in the pictures are approximated for reference only. Please refer to the aerial map provided by the Coffey County Appraiser's office in reference to property lines.
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Terms and Conditions
TERMS AND CONDITIONS OF SALE
SELLER: Cool Investment, LLC
ACREAGE: Selling as 1.57 acres more or less.
BRIEF LEGAL DESCRIPTION: Lots 17-24 in Section 23, Township 21 South, Range 15 East of the 6th P.M., Coffey County, Kansas. 1.57 Acres.
RESTRICTIONS: This real estate sells subject to (1) all County and State laws, ordinances, and regulations and (2) any easements, encumbrances, leases, and restrictions applicable to the property.
EARNEST DEPOSIT: Earnest money totaling 10% of the contract price shall be payable to Coffey County Land Title and is due on auction day and upon signing the purchase contract. The earnest deposit can be paid in the form of personal or business check, cashier's check, certified check or wire transfer. The Buyer's earnest deposit is non-refundable unless the Seller fails to close on this transaction due to the Seller's inability to deliver marketable title.
MINERALS: The Seller's mineral interest shall transfer to the Buyer.
POSSESSION: Full possession shall be at closing.
TAXES: Property taxes will be pro-rated to the date of closing. Taxes for any previous years are to be paid by the Seller. 2023 property taxes were $91.96.
TITLE/CLOSING COSTS: Seller and Buyer shall share equally in the cost of owner's title insurance and escrow closing fee. A preliminary title policy has been prepared by Coffey County Land Title and will be updated with Buyer information prior to closing. Buyer is responsible for cost of any lender's policy.
TITLE EVIDENCE/DEED: Seller will deliver to Buyer an insurable deed for the property at time of closing, conveying clear and marketable title to said property, free of all encumbrances, liens and judgment, except for those lawful conveyances and restrictions that exist on record before the date of the auction as noted in the title insurance commitment.
PROPERTY SOLD "AS IS, WHERE IS, WITH ALL FAULTS" WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND: This real property shall be sold subject to conditions, restrictions, right-of-way easements, and reservations, if any, of record, filed and untitled mechanic's and material liens.
CLOSING: Buyer must close the transaction for this real estate on or before October 15th, 2024. The balance of the purchase price must be paid by cashier's check or wired funds at closing. The purchase is not contingent on financing.
AGENCY: The Broker/Auctioneer is acting as Agent for the Seller only. All information and materials provided by the Broker is subject to inspection by all interested parties. Prospective bidders should independently verify any information being relied upon in making a purchasing decision.
LIQUIDATED DAMAGES: Buyer will forfeit all their earnest deposit if they cannot close within the stated time herein and no written extension has been granted by the Seller. If such actions occur, Coffey County Land Title hereby has the right to disperse the earnest deposit as determined by Vaughn-Roth Land Brokers and the Buyer has no claims to such money or property being sold. If the Sellers default on this transaction due to inability to deliver marketable title, the earnest money will be returned to the Buyer in full.
BIDDER'S DUTY TO INSPECT: All information published, announced, or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the Seller, the Broker or any other person or entity. Personal inspection of all property by potential bidders is strongly recommended. All sales are subject to the conditions and terms contained herein. The failure of any bidder to inspect or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer or deposit money after its opening tender. This includes but is not limited to public information such as easements, restrictions, zoning, rights-of-way, or any other information that can be obtained as public record in the County courthouse or any municipal office concerning subject properties. Any and all announcements made at the time of auction take precedence over all other verbal, printed, announced, and/or distributed information. Please note that you are bidding to purchase the property as is.
CONTRACT: Vaughn-Roth Land Brokers requires that the winning bidder close on this transaction prior to assigning the property to another party. There will not be any division of the property, writing of multiple contracts or requirement of more than one closing related to this transaction.
BIDDING: Will be by the total dollar amount.
BUYER'S PREMIUM: There will be a 10% buyer's premium added to the high bid to determine the final contract price with that total being paid by the Buyer.
CONTINGENCIES: This real estate is selling as-is and is not contingent upon inspections, appraisals, approval of financing or any other requirements by any entity. If the Buyer fails to close on this transaction, the earnest money due on auction day shall not be refunded unless the Seller cannot deliver marketable title.
BIDDING REGISTRATION AND APPROVAL: To register, visit VaughnRoth.com and click on this listing where you will find a "Register To Bid" tab. Once you submit your request for registration, you must contact Cameron Roth at 785-917-0867 and provide proof of funds or a letter of credit prior to being approved.
Bid Increments
Your bid must adhere to the bid increment schedule.
Bid Amount | Bid Increment |
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0.00 - 9,999,999.99 | 1,000.00 USD |
Payment Information
Currency | USD |
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Buyer Premium | 10% buyer's premium added to high bid |
Payment Terms |
EARNEST DEPOSIT: The earnest deposit in the amount of 10% of the final sale price shall be tendered to Coffey County Land Title on the day of the. The earnest deposit can be paid in the form of a personal check, business check, cashier's check, certified check or wired to the title company. Contact Broker for wiring instructions. The earnest deposit is non-refundable unless the Seller fails to close on this transaction. Successful Bidders not executing and returning their contract with Earnest Deposit within 48 hours of the conclusion of the auction will be considered in default. If your closing is delayed for any reason, by you, as Buyer, or other parties working on your behalf, including any lender you involve, you may be declared in breach of this contract, forfeit all deposits made, and could be additionally liable for any and all cost incurred by the Seller and Vaughn-Roth Land Brokers in a subsequent resale of the property.
2023 TAXES will be pro-rated to the date of closing. Taxes for any previous years are to be paid by the Seller.
TITLE/CLOSING COSTS: Seller and Buyer shall share equally in the cost of owner's title insurance and escrow closing. A preliminary title policy has been prepared by Coffey County Land Title and will be updated with Buyer information prior to closing. Buyer is responsible for the cost of a lender's policy if required.
CLOSING: Buyer must close sale of this real estate on or before October 15th, 2024 unless otherwise agreed to by all parties subject to the purchase contract. The balance of the purchase price must be paid by certified check or wired funds at closing. This purchase is not contingent on financing.
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Shipping / Pick Up
N/A