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Auctioneer Cates Auction & Realty Co., Inc. (816) 781-1134
Auction Date May 16 Auction
Location
Highway Development Land
Lake of the Ozarks, MO
Time 03:00PM
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AuctionZip Auctioneer ID# 3633
Commercial Development Land Online Auction: 36+/- Acres of Highway Development Land Adjacent to Osage National | Lake of the Ozarks, MO (Property C) 3,800 ft of Highway 54 Frontage and 650 ft of Osage River Shoreline For Sale at Auction With Low Published Reserve! Prime development land perfect for mixed use commercial. 36+/- acres along Hwy 54 at the Lake of the Ozarks. Includes partial TIF reimbursables. Appraised in 2010 for $5M; last listed at $2.1M; seller's auction reserve only $945k!

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CATALOG TEXT BELOW:
1 - Commercial Development Land: 36+/- Acres Commercial Development Land Online Auction: 36+/- Acres of Highway Development Land Adjacent to Osage National | Lake of the Ozarks, MO (Property C) 3,800 ft of Highway 54 Frontage and 650 ft of Osage River Shoreline For Sale at Auction With Low Published Reserve! Prime development land perfect for mixed use commercial. 36+/- acres along Hwy 54 at the Lake of the Ozarks. Includes partial TIF reimbursables. Appraised in 2010 for $5M; last listed at $2.1M; seller’s auction reserve only $945k! This exceptional site adjacent to Osage National is bordered on the west by 3,800 feet of highway frontage (21,095 VPD) and on the south by 650 feet of shoreline on the Osage River. Due to its location and size, the site would be ideal for a mixed use development consisting of retail, office, entertainment, residential, restaurant, and/or hotel uses. Substantial excavation and grading work has already been completed with material remaining onsite to complete leveling for development. (See cut & fill reports in “Documents” tab). Water and sewer connections are approximately 150 yards beyond the north end of the site and three phase electric is in place. Existing access is via Osage River Bridge Road from Highway 54 near the south end of the site. New owner will need to acquire a reclamation bond as the current bond is non-transferable. (The current bond is approximately $21,000 at $400/yr.) A TDD (approximately $3-4M) and a TIF District ($21M max) are currently in place. Neither has been activated and no project plan has been approved. NOTE: $7M of accrued expenses have been approved. In the event the buyer secures an approved Project Plan and payment of the eligible expenditures commences, the buyer will be entitled to an amount of the eligible expenditures equal to 50% of the purchase price of the property, on a pari pasu basis with the seller. An additional .463 acres at the northwest corner of the site is owned by the state of Missouri. According to the Missouri Department of Transportation, the new owner will have the option to purchase this tract at the same “per foot” price paid at the auction. 2010 “As Is” appraisal = $138,889/acre ($5,000,000) Last list price = $58,333/acre ($2,100,000) No TIF reimbursables included Auction reserve = $26,250/acre ($945,000) Partial TIF reimbursables included. See terms. PID#s: 12-9.0-29-001-005-001-000 (zoned: Residential Low Density) 12-9.0-29-001-001-001-000 (zoned: Industrial Light) 12-4.0-20-004-004-001-000 (zoned: Residential Low Density) 12-4.0-20-004-001-005-003 (zoned: Residential Low Density) Fast Facts: * 36+/- acres * Hwy 54 frontage: 3,800 ft * Osage River shoreline: 650 ft * VPD: 21,095 (per MODOT 2015 data) * Adjacent to Osage National Golf Resort * TDD & TIF in place * Eligible accrued TIF expenses to be shared with buyer (see terms) * 2016 taxes: $2,265.72 * Seller’s reserve: $26,250/acre (945,000) * Appraisal in 2010: $138,889/acre ($5M) Available upon request. * Last list price: $59,333/acre ($2.1M) * All bidding is taking place online * Pre-approval letter or proof of funds required to bid * Online bidding is open and will end May 16, 2018 Auctioneer’s Note: This prime commercial property is part of a larger sale of high quality development land and lots at auction, in and around the popular Osage National Golf Resort development. Our seller, an established Cates Auction client, is committed to selling everything and has set reserves well below market value on all these excellent properties. Look through all the materials and visit the sites, then log on and bid your prices! Auction Information Center: In addition to complete details on this website, full auction information is available in the Auction Information Center located in the lobby of the Osage National Golf Clubhouse. Additionally, auction staff will be onsite at the Auction Information Center on April 18 & May 2 from 11:00 to 1:00. Two Ways to Buy! 1. Bid in the auction. All bidding will take place online and will end on May 16th.. 2. Make a pre-auction offer. Subject to all auction terms and conditions. Call Ray at 816-695-2163 for details. Lake of the Ozarks… A Vibrant Region with a National Draw. Located equidistant from Kansas City and St. Louis, Missouri, the Lake of the Ozarks was created in 1931 by the damming of the Osage River and resulted in one of the largest and most beautiful man-made lakes in the world. Surrounded by the Ozark Mountains, the Lake is notable for 1,150 miles of shoreline. Sustained population growth over the years supports the significant development of the region as a major second home market and strong tourist/vacation destination. The east side of the lake in particular has seen tremendous real estate development of all types. Interstate access exists in all directions, primarily via Highway 54 which links the various Lake communities and has seen the most extensive development in the region. This prime commercial property is located on Highway 54 in the northeast portion of the Lake area. Auctioneer’s Note: This tract is part of a larger sale of high quality development land and lots at auction, in and around the popular Osage National Golf Resort development. Our seller, an established Cates Auction client, is committed to selling everything and has set reserves well below market value on all these excellent properties. Look through all the materials and visit the sites, then log on and bid your prices!




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