Over 28,000 SF
5 Acres
Zoned B-2
Williamstown Township
8 possible rental spaces, 5 units currently leased
Area is developing with mid-to-high-income residential as well as commercial and plans for future development of technology/research park within 2 miles. Large township park across the road. Remodel, build additional buildings, or start over. Possibilities abound! Prime location on busy M-43 (Grand River Road) between Williamston (3 miles) and Okemos (5 miles)—just 5 miles from exit 117 off I-96 between Lansing and Detroit.
Parcel ID: 33-03-03-33-100-011
Taxes: $2,784.19 (summer ’12); $12,602.46 (winter ’11)
SEV: $225,000 (2012)
Taxable Value: $225,000 (2012)
Unit 1: 2,600±sf retail showroom on first floor of front building with restroom and office [VACANT]
Unit 2: 2,100±sf residential apartment above front with 2 bedrooms, 2 full baths, laundry (unit could be converted to office space) [RENTED]
Unit 3: 1,850±sf retail space with restroom [VACANT]
Unit 4: 2-bay service shop with office, restroom, and parts storage room [RENTED]
Unit 5: 1,800±sf carpentry shop with overhead door [RENTED]
Unit 6: 2,400±sf shop with office and community-use restroom—plus warehouse storage area [RENTED]
Unit 7: 60’ x 120’ pole barn built in 1998 with partial cement floor20’ x 16’ overhead doors at each end and 3 grade doors [RENTED]
Unit 8: Landscape yard with 2-story office [VACANT]
Exhibit A<br>
Terms and Conditions of Online Only Real Estate Auction<br>
<br>
This online only auction is subject to seller confirmation and is a cash sale not contingent on or subject to financing, appraisal, survey, or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the attached Agreement to Purchase Real Estate. <br>
<br>
A Buyer's Premium of 10% is added to the high bid. Please take this into consideration when bidding. Example: Final bid price on a property is $100,000. Add the 10% buyer's premium of $10,000 to get a final price of $110,000. This is the actual sales price that will be used on the purchase agreement, and the number upon which transfer tax and title insurance are based. At the close of the auction, the successful Bidder will be emailed an Agreement to Purchase Contract to be executed and returned to Sheridan Realty & Auction Co. within Forty Eight (48) hours.<br>
<br>
Successful Bidders will deposit 10% of the sale price in the form of a cashier's check or wire transfer with Sheridan Realty & Auction Co. within Forty Eight (48) hours of the completion of the auction. The earnest money deposit is non-refundable. The entirety of the remaining balance is due at closing on or before Thirty Days (30) from Auction Day. Purchaser will be responsible for all wire transfers. <br>
<br>
Per the Contract, time is of the essence; you should proceed to closing within Thirty (30) days. Possession shall be given to the successful Buyer(s) at closing, and all closing fees charged by the Title Company are shared equally between Buyer(s) and Seller(s).<br>
<br>
Successful Bidders not executing and returning their Contract with Earnest Money deposit within Forty Eight (48) hours of the conclusion of the auction will be considered in default. If your closing is delayed for any reason, by you, as purchaser, 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 costs incurred by Seller and Sheridan Realty & Auction Co. incurred in a subsequent resale of the property. <br>
<br>
Buyer(s) must be prepared to make a cash offer. There are no contingencies to this sale (i.e. financing, appraisal, repairs, or inspections). Therefore, you should be pre-qualified by a lender prior to bidding if you require financing. This property is being sold for cash 'as-is, where-is' with a closing deadline.<br>
<br>
Sheridan Realty & Auction Co. reserves the right to remove or cancel the bids and or bidding rights and privileges of any party at any time deemed not to be in the best interest of the seller. The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Sheridan Realty & Auction Co. will reject the registration, and bidding activity will be terminated. <br>
<br>
Buyer acknowledges they are buying property 'as-is, where-is', without inspections or contingencies, Buyer(s) will rely on his/her own judgment and inspection. By signing an offer, Buyer(s) will be waiving the 10 day lead based paint test. <br>
<br>
Seller(s) will provide an owner's policy of title and convey title with a Full Warranty Deed.<br>
<br>
Sheridan Realty & Auction Co. and their representatives are Exclusive Agents of the Seller(s). Auctioneers and sales agents reserve the right to negotiate final sales price on behalf of the seller, or bid on behalf of the seller, if necessary. <br>
<br>
Real Estate is sold subject to any and all existing matters of record, and all easements, building use or zoning laws and regulations. Taxes and assessments will be pro-rated to the closing date. <br>
<br>
The property currently has an open site plan that must be completed to satisfy Williamstown Township. If the planned use of the subject property is not changed, the site plan must be completed by August 9, 2013 at new buyer’s expense. The details of the open site plan are attached as a PDF file in the file Section of the website. Please take this into consideration when bidding. Please contact Williamstown Township for details, 517-655-3193.<br>
<br>
Property will be sold subject to tenant rights and any active lease agreements will be assumed by the new buyer. Any rents and/or security deposits collected from tenants will be prorated to buyer at closing.<br>
<br>
<br>
<br>
All Sheridan Realty & Auction Co. Online Only Real Estate Auctions are timed events that have an auto-extend feature. Any bid placed within 5 minutes of the auction ending will automatically extend the auction for 5 minutes from the time the bid is placed. Example: If an auction scheduled to end at 6:00 pm receives a bid at 5:59 pm, the close time of the auction automatically extends to 6:05 pm. The auto-extend feature remains active until no further bids are received within the 5 minute time frame. <br>
<br>
A two percent (2%) bid price commission is available to properly registered Brokers. You must pre-register your Buyers with Sheridan Realty & Auction Co. twenty four (24) hours before the end of the auction. Agents who fail to pre-register their Buyer will not be recognized as Buyer Agents and will not be entitled to a co-op commission. Broker cannot act as a Principal and Broker on the same transaction. Please review the form for eligibility. <br>
<br>
The terms and covenants of the purchase agreement, including these additional terms (Exhibit A), shall survive closing and shall bind and the benefits shall inure to the heirs, successors, representative and assigns of the Parties.
Terms and Conditions of Online Only Real Estate Auction<br>
<br>
This online only auction is subject to seller confirmation and is a cash sale not contingent on or subject to financing, appraisal, survey, or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the attached Agreement to Purchase Real Estate. <br>
<br>
A Buyer's Premium of 10% is added to the high bid. Please take this into consideration when bidding. Example: Final bid price on a property is $100,000. Add the 10% buyer's premium of $10,000 to get a final price of $110,000. This is the actual sales price that will be used on the purchase agreement, and the number upon which transfer tax and title insurance are based. At the close of the auction, the successful Bidder will be emailed an Agreement to Purchase Contract to be executed and returned to Sheridan Realty & Auction Co. within Forty Eight (48) hours.<br>
<br>
Successful Bidders will deposit 10% of the sale price in the form of a cashier's check or wire transfer with Sheridan Realty & Auction Co. within Forty Eight (48) hours of the completion of the auction. The earnest money deposit is non-refundable. The entirety of the remaining balance is due at closing on or before Thirty Days (30) from Auction Day. Purchaser will be responsible for all wire transfers. <br>
<br>
Per the Contract, time is of the essence; you should proceed to closing within Thirty (30) days. Possession shall be given to the successful Buyer(s) at closing, and all closing fees charged by the Title Company are shared equally between Buyer(s) and Seller(s).<br>
<br>
Successful Bidders not executing and returning their Contract with Earnest Money deposit within Forty Eight (48) hours of the conclusion of the auction will be considered in default. If your closing is delayed for any reason, by you, as purchaser, 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 costs incurred by Seller and Sheridan Realty & Auction Co. incurred in a subsequent resale of the property. <br>
<br>
Buyer(s) must be prepared to make a cash offer. There are no contingencies to this sale (i.e. financing, appraisal, repairs, or inspections). Therefore, you should be pre-qualified by a lender prior to bidding if you require financing. This property is being sold for cash 'as-is, where-is' with a closing deadline.<br>
<br>
Sheridan Realty & Auction Co. reserves the right to remove or cancel the bids and or bidding rights and privileges of any party at any time deemed not to be in the best interest of the seller. The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Sheridan Realty & Auction Co. will reject the registration, and bidding activity will be terminated. <br>
<br>
Buyer acknowledges they are buying property 'as-is, where-is', without inspections or contingencies, Buyer(s) will rely on his/her own judgment and inspection. By signing an offer, Buyer(s) will be waiving the 10 day lead based paint test. <br>
<br>
Seller(s) will provide an owner's policy of title and convey title with a Full Warranty Deed.<br>
<br>
Sheridan Realty & Auction Co. and their representatives are Exclusive Agents of the Seller(s). Auctioneers and sales agents reserve the right to negotiate final sales price on behalf of the seller, or bid on behalf of the seller, if necessary. <br>
<br>
Real Estate is sold subject to any and all existing matters of record, and all easements, building use or zoning laws and regulations. Taxes and assessments will be pro-rated to the closing date. <br>
<br>
The property currently has an open site plan that must be completed to satisfy Williamstown Township. If the planned use of the subject property is not changed, the site plan must be completed by August 9, 2013 at new buyer’s expense. The details of the open site plan are attached as a PDF file in the file Section of the website. Please take this into consideration when bidding. Please contact Williamstown Township for details, 517-655-3193.<br>
<br>
Property will be sold subject to tenant rights and any active lease agreements will be assumed by the new buyer. Any rents and/or security deposits collected from tenants will be prorated to buyer at closing.<br>
<br>
<br>
<br>
All Sheridan Realty & Auction Co. Online Only Real Estate Auctions are timed events that have an auto-extend feature. Any bid placed within 5 minutes of the auction ending will automatically extend the auction for 5 minutes from the time the bid is placed. Example: If an auction scheduled to end at 6:00 pm receives a bid at 5:59 pm, the close time of the auction automatically extends to 6:05 pm. The auto-extend feature remains active until no further bids are received within the 5 minute time frame. <br>
<br>
A two percent (2%) bid price commission is available to properly registered Brokers. You must pre-register your Buyers with Sheridan Realty & Auction Co. twenty four (24) hours before the end of the auction. Agents who fail to pre-register their Buyer will not be recognized as Buyer Agents and will not be entitled to a co-op commission. Broker cannot act as a Principal and Broker on the same transaction. Please review the form for eligibility. <br>
<br>
The terms and covenants of the purchase agreement, including these additional terms (Exhibit A), shall survive closing and shall bind and the benefits shall inure to the heirs, successors, representative and assigns of the Parties.