No Reserve Commercial Real Estate Auction – May 5th, 2020
SOLD!
Parcel 1 – $310,000 & Parcel 2 – $90,000
ABSOLUTE REAL ESTATE AUCTION
Live Auction on May 5th at 1:00 PM
To be held at the Phelps County Ag Society To Be Held at the Parcel 1 Location & Will be Outside
Seller: Southern Public Power District
Contact: David Steinbrink (308) 991-6869 – Salesperson
or Adam Marshall (308) 455-4410 – Broker
For a private showing, contact David Steinbrink.
Selling in 2 Parcels
Live Online Bidding is Available – Click Here
Parcel 1
Address: 1605 East Highway 6, Holdrege, NE 68949
Selling at absolute auction is Southern Power Public District’s Holdrege Facility and Lot.
An excellent location and frontage on the east side of Holdrege on Highway 6/34. This property is estimated at 1.65 acres +/-. There are two buildings on the property.
The south building features office and insulated/heated shop space. It has a reception area, two offices, two restrooms, and storage. In the shop area, there is concrete floor, two overhead doors with electric openers, and overhead gas radiant heater.
This building measures 50×103’. The shop area measures 48×72’.
Overhead doors: 12×13’ and 8’4”x9’
The building was built in 1961.
The north building was built in 1997 and is a Chief building with steel frame. It measures 40×75’ with 16ft. side walls. It is fully insulated and has concrete floors. There are three overhead doors with electric openers. It has an overhead radiant gas heater and lighting.
The lot is completely fenced with 6 foot high chain link fence and has 2 large sliding gates. The lot is covered with rock and concrete.
Utilities: City Water, City Electric & Kinder Morgan Gas
Zoning: Commercial C-3
C-3 Zoning – PDF
Investment Rental Potential
8,150 square feet @ $5 per foot = $40,750 Annual Rent
Real Estate Taxes (Just an Estimate) = $5,000
Maintenance = $1,500
Insurance = $4,000
Net Income = $30,250
Capitalization rate 8%
Value: $378,125
Parcel 2
This lot is located south of the railroad tracks on with paved access on East 4th Avenue in Northeast part of Holdrege. It is estimated at 1.9 acres. The lot is completely fenced with 6 foot high chain link fence and has 2 large sliding gates. The lot is covered with rock and concrete. It has concrete forms in the middle and east part of the lot that are built to hold power poles.
Zoning: I Light Industrial
I Light Industrial Zoning – PDF
This property would be excellent for outdoor storage rental among other uses.
Auction Terms
Registration For Auction: All bidders must register for a bidder number to bid in the auction.
Method of Sale: The property will offered as two units at live absolute auction.
Title: Seller & buyer split the cost of title insurance costs and escrow closing costs. Title insurance will be used to evidence clear title to the buyer.
Real Estate Taxes: According to the Phelps County Assessor, there is no current tax information. Also there will be no taxes charged for all of the 2020 year. Taxes will start to accrue in 2021 for the buyer
Earnest Deposit: Buyer shall be required to pay a nonrefundable Earnest Deposit immediately following auction with the signing of an Adam Marshall Auctioneers & Land Brokers, LLC purchase agreement. Parcel 1 in an amount of $50,000. Parcel 2 in the amount of $20,000.
Closing: Cash or Certified Funds due upon closing which is to be on or before June 9th, 2020 or sooner. Buyer will have full possession upon closing.
Condition: The property will be sold in as-is condition with no warranties expressed or implied.
Financing: The sale of the property is not contingent upon financing. All prospective bidders will need to make arrangements prior to the auction if they require financing.
Agency: All representatives of Adam Marshall Auctioneers & Land Brokers, LLC are acting as agents of the Sellers.
