Lender Ordered Auction of Commercial Real Estate

Public Real Estate Auction

Auction Date & Location:  Thursday, July 8th @ 12 Noon On-site

Property Address:  308-312 Highland Ave, Washington Courthouse, Ohio 43160.

Real Estate Description:  9 Office condominium units in various stages of finish.  The property was constructed in 2007 & 2008.

The site is zoned B-3 as "General Business District" under the city of Washington Court House jurisdiction.

“POOL A” consists of 312 Highland Ave Units F, G, H, I, & J: This building contains 9,419 +/- square feet divided into five suites ranging from 1,291 to 2,681 square feet.  These units are currently vacant and unfinished, except for poured floors and stud wall exits between the units.

“POOL B” consists of 308 Highland Ave Units B, C, D & E:  Units B&C are currently leased.  Units 308 D&E are currently vacant and unfinished except for poured floors.

Property Preview Dates:  11AM to 12PM on Thursday July 1^st and 1 hour prior to auction. 

Basic terms:  Pool B, as defined above, will be sold subject to seller confirmation immediately after Pool A is sold at absolute auction subject to no minimum and no reserve.  Units within each respective Pool will be offered via High Bidder’s Choice and sold on a square footage basis per unit.  Units F, G, H, I & J will be sold absolutely to the highest bidder regardless of price.  Seller reserves the right to accept or reject any offers on Units B, C, D & E. Leased units are offered subject to tenant's rights.

Property sells as is, with no buyer contingencies for financing, inspections or otherwise.  10% Buyer’s premium applies.  The buyer’s premium will be added to the final bid to determine the contract sales price.  Financing, if any, is calculated on the final contract price.  Buyer pays all closing costs including title search, transfer taxes, deed preparation, conveyance and recording fees.  Taxes will be pro-rated via the short proration method.  Clean deed given at closing with no liens or delinquent taxes.

Cashier’s Check Required to Bid:  In order to register to bid, potential purchasers must bring a CASHIERS CHECK MADE PAYABLE TO Ohio Real Estate Auctions, in the amount of $5,000 (PER UNIT) for Pool A and $10,000 (PER UNIT) for Pool B, which will be your non-refundable deposit if you are the high bidder.  Deposit will be applied at closing to the purchase price.  Checks will be immediately returned to all non-winning bidders at the conclusion of the bidding process.  The purchaser will be required to sign a Contract to Purchase at the auction conclusion.

Closing / Possession:  Potential purchasers must be able to close within 30 days after the auction.  Time is of the essence.  The real estate is selling free and clear of any and all liens.  The purchaser will receive an insurable title at closing.  Possession will be given to the purchaser on date of closing.

Agency:  Auctioneer exclusively represents the Seller in this sale. 

Parcel Numbers:  213-025-3-00-039-02; 03; 04; 05; 06; 07; 08; 09; 10.

REALTOR® Participation:  Realtor® showings are encouraged and cooperation will be granted.  To collect a commission, you must:  
1) Conduct a showing on the property, 
2) Register your bidder no less than 48 hours prior to the auction on the approved form located in the Realtor’s Only Section of www.OhioRealEstateAuctions.com, 
3) Present a written opening bid on behalf of your client.  NOTE:  You will receive 3% of the written opening bid if you represent the successful bidder. 
4) Accompany your client to the auction.  

Please call Greg Frey at 614-206-2500 to schedule all showings. 

Directions:  Highland Ave, a.k.a SR41.  Subject properties are located between Clinton Ave & Perdue Plaza on Highland Ave. 

Brokerage:  Ohio Real Estate Auctions, LLC