AUCTION: THURSDAY, AUGUST 23rd at 11:00 A.M. - On-Site
3960 W. Fort Street, Detroit, Wayne County, MI
LOCATION:
The subject property is known as the former “East Michigan Trailer Sales.” Situated on Fort Street, it sits in a prime location only 2 miles from the Detroit Central Business District, as well as easy access to I-75, Fisher Freeway and the Ambassador Bridge.
OFFICE/SHOP BUILDING:
The building has 10,039 SF of office space and 27,059 SF of shop building for a total of 37,098 SF. The shop features multiple craneways throughout, up to 10-T capacity; heavy electrical power; radiant tube heat in most areas, suspended gas heaters in one area. The office and shop area are fully sprinklered. There are a total of 25 grade-level doors with adequate room for truck maneuvering. The eastern half of the building recently was updated with a rubber membrane roof.
ZONING:
B6 General Services District.
LEGAL:
Property consists of 3 Parcels totaling 152,712 SF or 3.5058 Acres
Tax ID: 14000064-5 (3910 West Fort St) - 83,299 SF
Tax ID: 14000066-117 (3858 West Fort St) - 60,815 SF
Tax ID: 14008362.001 (191 West Grand Blvd) - 8,598 SF
UTILITIES:
Municipal water & sewer, public utility gas & electricity.
ENVIRONMENTAL REPORT:
A Baseline Environmental Assessment was completed in February 2018. For a copy of the report, visit www.hudsonmarshall.com
SURVEY:
A survey was completed in July 2017. For a copy of the survey, visit our website:
www.hudsonmarshall.com
BILLBOARD LEASES:
There is a billboard lease in effect through 2025. Below are the yearly rent payouts:
2018: $23,500 2022: $25,500
2019: $24,000 2023: $26,000
2020: $24,500 2024: $26,500
2021: $25,000 2025: $27,000
OPEN HOUSE:
There will be an Open House on Thursday, August 9th and Wednesday, August 22nd from 10:00 A.M. until 5:00 P.M. You can also view anytime by making an appointment with Steve Slocumb at 478-957-4283.
IN ORDER TO BID, each registered bidder must acknowledge they have reviewed the
following items: Environmental Report, Survey, Billboard Lease, Deed Restriction, Title
Report, Broker Co-Op Form, & Purchase & Sale Agreement. All documents can be viewed
on our website at www.hudsonmarshall.com
EQUIPMENT AND FURNISHINGS SELLING AT ABSOLUTE AUCTION
(185) Heavy Duty Steel Shelving Units (Various Sizes)
One 27” deep x 33’ steel parts counter with shelves
Two shop air compressors
Two 500 gallon oil containers
Two heavy duty drum lathes – as is One Rigid 535 pipe threading machine
Two steel pallet racks Four welding machines and parts
One heavy duty table top drill press
Two hydraulic power units and four rams for frame bay
Numerous chains, clamps, hold downs & beams for frame straightening
Four electric chain hoist in frame bay
One lot Beeline wheel alignment equipment
Two steel work benches, one with vice One panel saw rack, less saw
Two 3’ x 12” x 7’ nut & bolt bins
One 3’ x 12” x 3’ nut & bolt bin
One lot of multiple pallets heavy duty truck & trailer parts
Desks, Sofa, Chairs, Office Chairs, Tables, Filing Cabinets, Storage
Cabinets, Credenzas, Conference Table with Matching Chairs
SALE DATE: The auction will take place on-site on Thursday, August 23rd at 11:00 A.M.
INSPECTION: There will be an Open House on Thursday, August 9th and Wednesday, August 22nd from 10:00 A.M. until 5:00 P.M. or make an appointment anytime by contacting Steve Slocumb at 478-957-4283.
BUYER’S PREMIUM: A 10% buyer’s premium will be added to the high bid. Example: High bid $100,000, a 10% buyer’s premium of $10,000 will be added to arrive at the total purchase price of $110,000.
TERMS FOR BIDDING REAL ESTATE: The successful bidder will pay an earnest money deposit equal to ten percent (10%) of the total purchase price. The balance of the purchase price will be due on or before Friday, September 28, 2018. A cashiers check (made payable to yourself), cash or certified check in the amount of $25,000.00 is required as a portion of your down payment. A personal or business check can be used to pay the balance of the 10% down payment.
CLOSING: The property must close on or before Friday, September 28, 2018. The 2018 summer taxes will be paid by the Seller. The 2018 winter taxes will be the responsibility of the Purchaser. The purchaser will be responsible for 1/2 of the Title Company Closing Costs, and any other fees associated with closing the transaction with a lender, i.e. loan fees, survey fees, lender title insurance, etc. The Seller will be responsible for 1/2 of the Title Company Closing Costs, Transfer tax, and the Seller’s Title Insurance Policy.
BROKER CO-OP: A 2% Broker Commission, before the inclusion of the buyer’s premium, will be paid to Brokers/Agents who represents the successful bidder. Broker registration forms can be obtained from our website, www.hudsonmarshall.com, and must be submitted by Wednesday, August 22, 2018 by 5:00 P.M.
TITLE COMPANY: Pat Flinchum with First American Title Insurance Company will be the escrow agent and will handle the closing.
SPECIAL NOTE: Property is selling “as-is, where-is” with all faults and is selling subject to (i) all matters of public record including, without limitation, easements, leases, deed restrictions, covenants, and conditions, (ii) zoning, and (iii) all other matters which would be revealed by a current survey or an inspection of the property. The only representation and warranties made are those contained in the auction real estate sales contract. Information contained herein was obtained from sources deemed reliable. The property will sell “as-is, where-is” with no warranty, express or implied, as to improvements, soil condition, environmental status or zoning. No personal property shall be conveyed with real estate unless denoted in contract. Although every precaution has been taken to ensure accuracy, neither the seller, Hudson & Marshall, Inc. nor their agents will be responsible for any errors or omissions herein. Bidders should carefully verify all information and make their own decisions as to the accuracy thereof before submitting their bid. The terms of the auction real estate sales contract are controlling in the event of any perceived inconsistency between the terms of the auction real estate sales contract and any statements in this brochure or other advertisement. Announcements made at auction will take precedence over written materials. Unless the property is marked absolute in the auction brochure, it sells subject to Seller Confirmation.
LICENSE: Hudson & Marshall LLC, #6505409055
For More Information, Call Steve Slocumb with Hudson & Marshall at 800-841-9400
Visit www.HudsonMarshall.com
