Property Information Packet

Transcription

1 Property Information Packet 401 E. Douglas Ave. Building & 420/422 E. Douglas Ave. Parking Lots Wichita, KS AUCTION TUESDAY, MARCH 3 RD AT 12:00 P.M. Copyright 2015 McCurdy Auction, LLC 9629 E. Kellogg Wichita, Kansas Phone Fax

2 Table of Contents PROPERTY DETAIL PAGES WATER WELL ORDINANCE HISTORICAL RENT ROLLS FLOOR PLANS ZONING MAPS FLOOD ZONE MAP AERIAL PLAT MAP GUIDE TO AUCTION COSTS This Property is selling in its present condition and is accepted by the buyer(s) without any expressed or implied warranties or representations from the seller(s) or his(her) agent(s). It is incumbent upon the buyer(s) to exercise his(her) own due diligence prior to bidding on this property. It is the responsibility of the prospective purchaser(s) to have any and all inspections completed prior to the auction day including, but not limited to, roof, structure, termite, environmental, groundwater, survey, encroachments, groundwater, flood designation, zoning designation, school zone designation, existence of any code violations, drainage, presence of lead-based paint and/or lead-based paint hazards, presence of radon, presence of asbestos, presence of mold, electrical, appliances, heating, air conditioning, mechanical, plumbing (to include water well, septic or lagoon compliance), sex offender registry information, flight patterns and any other desired inspections, if any. Information given is from sources deemed reliable but NOT guaranteed by the seller(s) or the Realtor(s) /Auctioneer(s). Announcements made the day of the auction shall take precedence over anything previously stated or printed. There will be a 10% Buyers Premium ($1000 minimum) added to the high bid price to arrive at the final contract price. 2

3 ALL FIELDS CUSTOMIZABLE MLS # Class Commercial/Ind/Bus Property Type Commercial Service County Sedgwick Area 401 Address 401 E Douglas Ave Address 2 City Wichita State KS Zip Status Active Asking Price $0 Sale/Rent For Sale Associated Document Count 0 Picture 24 GENERAL Showing Phone Sale/Lease Sale Building Size SqFt 50, ,000 Number of Acres 0.48 Zoning Central Bus Dis # of Stories 5 Apx Gross Building SqFt 60, Apx Net Rentable SqFt Apx Min Available SqFt 60, Apx Max Contiguous SqFt 60, Apx Vacant SqFt 60, Land SqFt 21, Present Use of Bldg VACANT Bldg on Leased Land Year Built 1932 Subdivision Legal Lots Douglas Ave English's Addition Sub-Agent Comm 0 Buyer-Broker Comm 3 Transact Broker Comm 3 Variable Comm Non-Variable DIRECTIONS Topeka & Douglas (Southeast Corner). FEATURES LOADING DOCK Dock High RAIL OVERHEAD DOORS 1 PARKING Parking to 25 ROAD FRONTAGE City Arterial LOCATION Central Business District CONSTRUCTION Brick Veneer Concrete-Poured Stucco SIDEWALL HEIGHT Over 20 Ft ROOF Flat Roof Tar/Gravel UTILITIES AVAILABLE Gas Electric City Water City Sewer Master Meter FLOORS Carpet Concrete Slab HEATING Hot Water COOLING Central Air Electric TENANT PAID EXPENSES OWNER PAID EXPENSES External Building Repairs Electricity Gas Internal Building Repairs Janitorial Mechanical Repairs Property Insurance Real Estate Taxes Sewer Site Maintenance Trash Water ELECTRICAL 110 Volt MISCELLANEOUS FEATURES Fire Alarm Wet Sprinkler System PROPOSED FINANCING Sell in Entirety TERMS OF LEASE DOCUMENTS ON FILE Aerial Photos Ground Water Addendum Photographs Plat Rent Roll OWNERSHIP Individual SHOWING INSTRUCTIONS Call Showing # LOCKBOX Combination TYPE OF LISTING Excl Right w/o Reserve AGENT TYPE Sellers Agent FLOOD INSURANCE Unknown POSSSESSION At Closing

4 FEATURES No Leases FINANCIAL General Property Taxes $20, General Tax Year 2014 Special Taxes 5.94 Special Tax Year 2014 Special Balance 0.00 Gross Income Earnest $ Deposited With MCCURDY AUCTION LLC TRUST PUBLIC REMARKS ONSITE REAL ESTATE AUCTION ON MARCH 3RD AT 12 P.M. NO MINIMUM, NO RESERVE!!! Fantastic opportunity to purchase this 60,000+ SF, 5 Story Commerce Plaza building in Downtown Wichita at 401 E. Douglas at Absolute Auction. Also offering parking lots at 420 and 422 E. Douglas Ave (with 27 spaces) as separate and together with the Commerce Plaza Building. This building was built in 1932 and had a major remodel in the 70's. This building is a former Montgomery Ward building from 1932 until approximately Nice multipurpose building and with minimal renovations to the building (mostly paint and carpet), could be maintained as a Class C office space with ground floor retail. The building was previously leased at an approx. avg of $8.00 per SF for the lower level office space, $9.00 per SF for the upper level office space and $11.00 per SF for the ground floor retail space. (Previous rent rolls are included in the Property Information Packet.) Based on the rent roll provided, the total leasable SF is appx. 58,000. The main floor retail and office space had a photography business in the NE corner. The main floor retail space could be reconfigured. It also features a club with small kitchen area. There is a dock high loading dock and a freight elevator servicing all floors. The 2nd floor features a very large office suite most currently used as a call center and political office with built-in cubicles as well as private offices and large reception area and break room. The 3rd floor has a large office suite and internal staircase to 2nd story. This floor is ready to occupy with minimal work. It features a large entryway, large conference room and wet bar area with stainless sink. Very large open span area in the middle of the floor with private offices on all exterior walls as well as private bathroom facilities. 19 total private offices, kitchen and break room. There is also an equipment and file room. The 4th floor has a large office suite, conference room and multipurpose area easily configured into multiple separate office suites. 5th floor consists of approximately 6 different office suites varying in size from one single office to multiple office suites with reception areas and private offices. Also has a nice kitchen/break room with built-in sink, dishwasher and ice maker. The bsmt features a boiler room and mechanical monitoring system for CH/CA. The gas fired boiler and electrical were updated in the late '70s. Updated sump pump system. *This Property is offered in its present condition and is accepted by the buyer(s) without any expressed or implied warranties or representations from the seller(s) or his(her) agent(s). It is incumbent upon the buyer(s) to exercise his(her) own due diligence, investigation, and use suitability, prior to bidding on this property. It is the responsibility of the prospective purchaser(s) to have any and all inspections completed prior to the auction day including, but not limited to, roof, structure, termite, environmental, survey, encroachments, groundwater, flood designation, zoning designation, school zone designation, existence of any code violations, drainage, presence of lead-based paint and/or lead-based paint hazards, presence of radon, presence of asbestos, presence of mold, electrical, appliances, heating, air conditioning, mechanical, plumbing (to include water well, septic, or lagoon compliance) and any other desired inspections, if any. Information given is from sources deemed reliable but NOT guaranteed by the seller(s) or the Realtor(s) /Auctioneer(s). Announcements made the day of the auction shall take precedence over anything previously stated or printed. There will be a 10% Buyers Premium (minimum $1,000) added to the high bid price to arrive at the final contract price. This property will be available for viewing by scheduled appointment and will be open two hours prior to the real estate auction. The earnest money amount due at the auction from the high bidder is $35,000. AUCTION Auction Y/N Yes Type of Auction Sale Absolute Method of Auction Live Only Auction Location ONSITE Auction Offering Real Estate Only Auction Date 3/3/2015 Auction Start Time 12:00 P.M. Broker Registration Req Yes Broker Reg Deadline 5 P.M. PRIOR BUSINESS DAY Buyer Premium Y/N Yes Premium Amount Earnest Money Y/N Yes Earnest Amount %/$ 35, ADDITIONAL PICTURES 1 - Open for Preview Yes 1 - Open/Preview Date 3/3/ Open Start Time 10:00 A.M. 1 - Open End Time 12:00 P.M.

5 DISCLAIMER This information is not verified for authenticity or accuracy and is not guaranteed. You should independently verify the information before making a decision to purchase. Copyright 2015 South Central Kansas MLS, Inc. All rights reserved.

6 ALL FIELDS CUSTOMIZABLE MLS # Class Commercial/Ind/Bus Property Type Vacant Commercial Land County Sedgwick Area 401 Address 420 E Douglas Ave Address E. Douglas City Wichita State KS Zip Status Active Asking Price $0 Sale/Rent Auction GENERAL Sale/Lease Sale Building Size SqFt N/A or Lease Number of Acres 0.24 Zoning Central Bus Dis # of Stories 0 Apx Gross Building SqFt 0.00 Apx Net Rentable SqFt Apx Min Available SqFt 0.00 Apx Max Contiguous SqFt 0.00 Apx Vacant SqFt 0.00 Land SqFt 10, Present Use of Bldg 0 Bldg on Leased Land Year Built 0 Subdivision JR MEADS ADDITION Legal Lot 38, 40, 42 Douglas Ave. J.R. Mead's Add. Section 21 Township 27 Range 01E Sub-Agent Comm 0 Buyer-Broker Comm 3 Transact Broker Comm 3 Variable Comm Non-Variable DIRECTIONS Douglas & Topeka - East to parking lots on the North side of Douglas. (See Aerial) FEATURES LOADING DOCK RAIL OVERHEAD DOORS PARKING Parking Lot Parking Over 25 Paved ROAD FRONTAGE City Arterial LOCATION Central Business District CONSTRUCTION SIDEWALL HEIGHT ROOF UTILITIES AVAILABLE FLOORS HEATING COOLING TENANT PAID EXPENSES OWNER PAID EXPENSES Real Estate Taxes Site Maintenance ELECTRICAL MISCELLANEOUS FEATURES PROPOSED FINANCING Sell in Entirety TERMS OF LEASE Other/See Remarks DOCUMENTS ON FILE Aerial Photos Photographs Plat OWNERSHIP Individual SHOWING INSTRUCTIONS Call Showing # LOCKBOX TYPE OF LISTING Excl Right w/o Reserve AGENT TYPE Sellers Agent FLOOD INSURANCE Unknown POSSSESSION At Closing FINANCIAL General Property Taxes $2, General Tax Year 2014 Special Taxes Special Tax Year 2014 Special Balance Gross Income

7 FINANCIAL Earnest $ Deposited With McCurdy Auction, LLC Trus PUBLIC REMARKS ONSITE REAL ESTATE AUCTION ON TUESDAY, MARCH 3RD AT 12:00 P.M. NO MINIMUM, NO RESERVE!!! Total of 10,200 SF paved parking lots (27 spaces) in Downtown Wichita at Absolute Auction. Zoned Central Business District. Addresses include 420 and 422 E. Douglas Ave. Each lot is 3,400 SF. Lots are offered as a package, separate and together with the 5 Story Commerce Plaza Building across the street at 401 E. Douglas. *Verify schools. This Property is offered in its present condition and is accepted by the buyer(s) without any expressed or implied warranties or representations from the seller(s) or his(her) agent(s). It is incumbent upon the buyer(s) to exercise his(her) own due diligence, investigation, and use suitability, prior to bidding on this property. It is the responsibility of the prospective purchaser(s) to have any and all inspections completed prior to the auction day including, but not limited to, roof, structure, termite, environmental, survey, encroachments, groundwater, flood designation, zoning designation, school zone designation, existence of any code violations, drainage, presence of lead-based paint and/or lead-based paint hazards, presence of radon, presence of asbestos, presence of mold, electrical, appliances, heating, air conditioning, mechanical, plumbing (to include water well, septic, or lagoon compliance) and any other desired inspections, if any. Information given is from sources deemed reliable but NOT guaranteed by the seller(s) or the Realtor(s) /Auctioneer(s). Announcements made the day of the auction shall take precedence over anything previously stated or printed. There will be a 10% Buyers Premium (minimum $1,000) added to the high bid price to arrive at the final contract price. This property will be open for previewing two hours prior to the real estate auction or by scheduled appointment. The earnest money amount due at the auction from the high bidder is $5,000. AUCTION Type of Auction Sale Absolute Method of Auction Live Only Auction Location ONSITE Auction Offering Real Estate Only Auction Date 3/3/2015 Auction Start Time 12:00 P.M. Broker Registration Req Yes Broker Reg Deadline 5 P.M. PRIOR BUSINESS DAY Buyer Premium Y/N Yes Premium Amount Earnest Money Y/N Yes Earnest Amount %/$ 5, DISCLAIMER 1 - Open for Preview Yes 1 - Open/Preview Date 3/3/ Open Start Time 10:00 A.M. 1 - Open End Time This information is not verified for authenticity or accuracy and is not guaranteed. You should independently verify the information before making a decision to purchase. Copyright 2015 South Central Kansas MLS, Inc. All rights reserved.

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9 Total Leasable Sq Ft: 58,000 Assumptions: the Lower Level and First Floor have about 9000 sq ft of leasable space; Floors Total Leased Sq Ft: 24,750 Two through Five have about 10,000 sq ft. Total Vacant Sq Ft: 33,250 Percentage Leased Space: 42.7% ** Company owned by building owners Total Monthly Income: $11,333 Income Per Leasable Sq Ft: $2.34 Income Per Leased Sq Ft: $5.49 Commerce Plaza Tenants - Sorted by Monthly Rent (as of 2/9/11) Tenant Name Industry Type Floor Approx Space Sq Ft (Approx) Monthly Rent Yearly Rent PSF Length Art Gallery 3rd 70% 7,000 $3,000 $5.14 M-to-M Oil Office 5th 25% 2,500 $1,954 $9.38 M-to-M Oil Office 5th 25% 2,500 $1,954 $9.38 M-to-M Healthcare Billing Office 5th 20% 2,000 $1,250 $7.50 M-to-M Properties** Property Mgmt Office 3rd 20% 2,000 $1,000 $6.00 M-to-M Photography Retail 1st 40% 3,500 $800 $2.74 M-to-M Building Storage N/A Storage *LL* 25% 2,250 $500 $2.67 M-to-M Oil Office 3rd 10% 1,000 $350 $4.20 M-to-M Oil Office 5th 10% 1,000 $275 $3.30 M-to-M Oil Office 5th 10% 1,000 $250 $3.00 M-to-M Vacancy (*Lower Level*) N/A Vacant *LL* 75% 6,750 $0 $0.00 N/A Vacancy (1st Floor) N/A Vacant 1st 60% 5,500 $0 $0.00 N/A Vacancy (2nd Floor) N/A Vacant 2nd 100% 10,000 $0 $0.00 N/A Vacancy (3rd Floor) N/A Vacant 3rd 0% 0 $0 $0.00 N/A Vacancy (4th Floor) N/A Vacant 4th 100% 10,000 $0 $0.00 N/A Vacancy (5th Floor) N/A Vacant 5th 10% 1,000 $0 $0.00 N/A

10 Commerce Plaza Tenants - Sorted by Floors (as of 2/9/11) Tenant Name Industry Type Floor Approx Space Sq Ft (Approx) Monthly Rent Yearly Rent PSF Length Building Storage N/A Storage *LL* 25% 2,250 $500 $2.67 M-to-M Vacancy (*Lower Level*) N/A Vacant *LL* 75% 6,750 $0 $0.00 N/A Photography Retail 1st 40% 3,500 $800 $2.74 M-to-M Vacancy (1st Floor) N/A Vacant 1st 60% 5,500 $0 $0.00 N/A Vacancy (2nd Floor) N/A Vacant 2nd 100% 10,000 $0 $0.00 N/A Oil Office 3rd 10% 1,000 $350 $4.20 M-to-M Fine Arts** Art Gallery 3rd 70% 7,000 $3,000 $5.14 M-to-M Properties** Property Mgmt Office 3rd 20% 2,000 $1,000 $6.00 M-to-M Vacancy (3rd Floor) N/A Vacant 3rd 0% 0 $0 $0.00 N/A Vacancy (4th Floor) N/A Vacant 4th 100% 10,000 $0 $0.00 N/A Healthcare Billing Office 5th 20% 2,000 $1,250 $7.50 M-to-M Resources Oil Office 5th 10% 1,000 $250 $3.00 M-to-M Exploration Oil Office 5th 10% 1,000 $275 $3.30 M-to-M Mktg Oil Office 5th 25% 2,500 $1,954 $9.38 M-to-M Drilling Oil Office 5th 25% 2,500 $1,954 $9.38 M-to-M Vacancy (5th Floor) N/A Vacant 5th 10% 1,000 $0 $0.00 N/A

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24 Guide to Auction Costs THE SELLER CAN GENERALLY EXPECT TO PAY... Half Owners Title Insurance Premium Half of the Closing Fee Real Estate Commission (If Applicable) Advertising Costs Payoff of Loans, Including Accured Interest, Statement Fees, Reconveyance Fees and Any Prepayment Any Judgements, Tax Liens, Etc. Against The Seller Recording Charges Required to Convey Clear Title Any Unpaid Taxes and Tax Proation for the Current Year Any Unpaid Homeowner Association Dues Rent Deposits and Prorated Rents (If Applicable) THE BUYER CAN GENERALLY EXPECT TO PAY... 10% Buyer s Premium (If Applicable) Half Owners Title Insurance Premium Half of the Closing Fee Lender s Title Policy Premiums (If Obtaining Financing) Document Preparation (If Applicable) Notary Fees (If Applicable) Recording Charges For All Documents in Buyer s Name Home Owners Association Transfer/Set Up Fee (If Applicable) All New Loan Charges (If Obtaining Financing) Homeownere s Insurance Premium for First Year All Pre-Paid Deposites for Taxes, Insurance, Pmi, Etc. (If Applicable) 519 N. Oliver, Wichita, Kansas (316) (800)