Former Marion Shopko Absolute Auction

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30139007
Property Subtypes: Free-Standing Building
Status: Pending
Building Size (RSF): 36,047 SF
Gross Land Area: 3.70 Acres
Sale Price: See Agent
Property Use Type: Vacant/Owner-User
Building Name: Former Marion Shopko
Usable Size (USF): 36,047 SF
Sale Terms: Cash to Seller
Up For Auction: Yes
Auction Type: Absolute
Auction License Number: P2066
Cap Rate: Undisclosed
Short Sale/Bank-Owned: Yes
Last Updated: 8/13/2017

Overview / Comments

Attention!!!
Survey, just received, revealed the property is 3.7 acres, not the 6.6 acres originally advertised.

SELLS REGARDLESS OF PRICE, 36,047±SF Retail Bldg. on 3.7± Acres, Selling Online Only at http://www.AMCbid.com, Wednesday, August 9 at 12 NOON CT, Closing Deadline: September 13, 2017, Inspection: Tuesday, August 1 & Tuesday, August 8 at 11:00 AM CT SHARP, Sale Manager: Don Erler, don@donerler.com, 502-592-8858. Part of Lender Owned Auction of 11 retail/restaurant properties in 7 states. Property Description: Former Shopko built in 2000. Construction is block frame with a flat composition roof and painted block exterior. The interior is consistent with anchor/big box retail finish; asphalt tile & carpet floors, dropped ceilings, fluorescent lighting fixtures, etc. Other improvements to the site consist of asphalt-paved surface parking and minimal landscaping. All utilities are available to the irregular-shaped site, known as Marion County, part of tax parcel 070-60-07-001-00. Property is zoned C-3, Highway Business District. According to a June 13, 2005 Phase 1 Environmental Site Assessment, no recognized environmental conditions (RECs) or or historical RECs (HRECs) were identified in connection with the property. This auction features a grouped bid extension - please see details in terms below. Terms: Bank Proof of Funds Required to Bid, 10% Buyer’s Premium added to winning bid to determine sale price, 10% Earnest Money Deposit, close by September 13, 2017. Auctioneer is not responsible for bidding errors caused by internet outages, bid platform failures, or power failures. All of the properties sell individually as "lots" however they are all tied together by the auction clock. We will set a bid deadline for all of the assets. Once we get within 5 minutes of that bid deadline, any bid placed on Any of the assets will extend All of the assets another 5 minutes. This extension will continue until no bids are placed on any of the assets in a five-minute window. This feature is in place partially to prevent "sniping" which can occur on online auctions with a hard deadline. It recreates the action of a "Live Auction". If your opponent bids in the waning seconds of the auction, you still get another chance to bid. With that in mind, don't wait out the bid until the last second, as it can put you at risk for not getting your bid in before the 5-minute clock runs out.

Additional Details

Nearest MSA: Madisonville
County: Crittenden
Taxing Authority: Marion/Crittenden County
Tax ID/APN: Part of 070-60-07-001.00
Zoning: C-3 (HIGHWAY BUSINESS DISTRICT)
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Property Visibility: Excellent
Site Description: Property improvement is slightly below grade, but very visible from the main road and features a large parking lot of customers and a loading dock for deliveries. Property is in excellent condition and offers many alternative uses to the new owner.
Area Description: Marion is the county seat of Crittenden County, a mainly rural area with extensive farming and some retail and manufacturing activities. This property is on the main north south road and is located just northeast of the downtown area and surrounded by many other retail and office properties.
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 2000
Roof Type: Flat
Construction/Siding: Block
Parking Type: Surface
Parking Description: Provides for cross easements to outlots (not part of the auction property) with additional parking beyond the extensive surface parking in front of the building.
Sprinklers: Wet
Zoning Description: C-3, Highway Business District, the highest commercial zoning designation in the City of Marion.
In Flood Plain?: Yes
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress
Easements Description: The City of Marion has the right to access a victory garden through this property. Cross easements are in place for cross over access to outlots that are not part of the auction property.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 741 4,250 4,250
Median Age: 39.95 43.39 43.39
Households: 331 1,784 1,784

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