COMMERCIAL REAL ESTATE AUCTION

Shell Rock, Iowa
Auction held on site at 113 West Main & 111 South Cherry, Shell Rock, Iowa

Preview on Wednesday, May 29^th from 5-6 PM

PROPERTY SOLD FOR: 

$40,500.00

LARGE COMMERCIAL BUILDING
Need more space to grow your business?  Here is a tremendous opportunity to revitalize this former light manufacturing facility in the downtown of Shell Rock, Iowa.  Bid your price on this building that offers 10,592 sq.ft. of space, which could be converted to suit your business needs.

The front addition, constructed in 2002, has a 13’x12’ overhead door and front office & work/storage space.  The other areas of the building include four work space/storage areas, loading dock, office, break room, bathroom and small kitchen.  Currently zoned C-1, this property is located on a 200’x140’ corner lot, adjacent to the Shell Rock River. 

Included: All contents.

Assessed Value: $136,370

Real Estate Taxes:
Gross                           $4,536.15
Bus. Credit                 ($1,732.77)
Net Taxes:                   $2,804.00

TERMS: 10% down payment on June 12, 2019.  Balance due at closing with a projected date of July 26, 2019, upon delivery of merchantable abstract and deed and all objections have been met.
POSSESSION: Projected date of July 26, 2019.
REAL ESTATE TAXES: To be prorated to date of possession on the basis of the last available tax statement.  Seller shall pay any unpaid real estate taxes payable in prior years.

SPECIAL PROVISIONS:

• This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
• This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
• Purchasers who are unable to close due to insufficient funds or otherwise, will be in default and the deposit money will be forfeited.
• Seller shall not be obligated to furnish a survey.
• All dimensions and descriptions are approximations only based upon the best information available and are subject to possible variation.  Sketches may not be drawn to scale and photographs may not depict the current condition of the property.  Bidders should inspect the property and review all the pertinent documents and information available and verify all information to their satisfaction, as each bidder is responsible for evaluation of the property and shall not rely upon the Seller, Broker or Auctioneer, their Employees or Agents.
• A Phase II report was completed by GeoSource, Inc. on September 12, 2017.  Copies of said report are available for review.  The Seller, Broker and Auctioneers do not warrant with respect to the existence or nonexistence of any pollutants, contaminants or hazardous waste prohibited by federal, state or local law. Buyer is responsible for inspection of the property prior to purchase for conditions including but not limited to water quality, and environmental conditions that may affect the usability or value of the property.  If in the future a site clean-up is required it shall be at the expense of the buyer.
• The buyer acknowledges that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The buyer is buying this real estate in its “as is” condition and there are no expressed or implied warranties pertaining to the real estate.
• Steffes Group, Inc. is representing the Seller.
• Any announcements made the day of sale take precedence over advertising.

Owner: Iowa State Bank - Clarksville, Iowa

For information contact auction managers Duane Norton or Nate Larson at Steffes Group, 319.385.2000 or 515.450.7778 Duane’s cell or 319.931.3944 Nate’s cell

Downloads:
Phase II Report