Mini Mall, Adel, GA

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Property No.: 1
Completed
Start Time:5/10/2022 2:00:00 PM
End Time:5/25/2022 4:10:39 PM
Bid Count:227
Winning Bidder:12699
Starting Bid:$100.00
Bid Increment:$5,000.00
Current Bid:$552,000.00
Bidding complete
1

Property Details


Property Type:Commercial Retail
Seller Type:Individual
Beds:0
Baths:0
Year Built:2009
Square Feet:11350
Total Land Area:1.24 acres
Subdivision Name:NA
Lot Numbers:NA
County:Cook
County Map & Parcel Number: 0040G 002
Survey Required:NO
Survey Company:NA
Survey Cost:NA
Restrictive Covenants:None
HOA Fee :None
Water :City Water / City Sewer / City Power
Conservation Program:None
Auction Manager :Derry Bennett - 229-561-0480
Property Highlights:Income producing mini mall in Adel, GA. This property currently has 9 tenants and 2 vacant spaces. Each tenant is on a month-to-month lease with no written lease in place. This is in a highly desirable location only minutes from I-75 and the Adel Industrial Park. Great opportunity for an investor or investor group to purchase commercial property. Please read through the property information packet for all income info.
Yearly Taxes:$4,703.82 - City and County Taxes
Lease In Place:Month-to-month lease with 9 tenants
Address:156 Old Quitman RoadAdel, Georgia 31620
Lat/Lon:31.121788, -83.419113

Closing Details


Closing Agent:Lea HazelLea Gaskins Hazel Law LLC300 East Fourth Street, Adel, GA229-896-2879
Closing Date:July 1, 2022
Deed Type:General Warranty Deed
Buyer's Premium:10%


Property Type:Commercial Retail
Seller Type:Individual
Beds:0
Baths:0
Year Built:2009
Square Feet:11350
Total Land Area:1.24 acres
Subdivision Name:NA
Lot Numbers:NA
County:Cook
County Map & Parcel Number: 0040G 002
Survey Required:NO
Survey Company:NA
Survey Cost:NA
Restrictive Covenants:None
HOA Fee :None
Water :City Water / City Sewer / City Power
Conservation Program:None
Auction Manager :Derry Bennett - 229-561-0480
Property Highlights:Income producing mini mall in Adel, GA. This property currently has 9 tenants and 2 vacant spaces. Each tenant is on a month-to-month lease with no written lease in place. This is in a highly desirable location only minutes from I-75 and the Adel Industrial Park. Great opportunity for an investor or investor group to purchase commercial property. Please read through the property information packet for all income info.
Yearly Taxes:$4,703.82 - City and County Taxes
Lease In Place:Month-to-month lease with 9 tenants
No donations for this lot

NOTICE – All bidders must read and agree to the terms and conditions prior to bidding. IF you are the winning bidder you are required to close on the property.
Please note:
•    10% buyer’s premium will be added to your final bid
•    20% earnest money down payment will be due within 48 hours of the auction end time.
•    The BUYER will pay the closing cost
•    If you are the winning bidder and do not close on the property you will be pursued in a court of law.

TERMS AND CONDITIONS
The Terms and Conditions apply to all properties offered in this auction. All Bidders must read these terms before bidding on the auction. By bidding in the auction, you are acknowledging that you have read and agree to these terms and conditions and are responsible for closing on the property if you are the winning bidder. All winning bidders will be required to sign a real estate auction contract. The winning bidder will mail earnest money at the conclusion of the auction and will owe the remaining balance at closing within 30 days.
Earnest money due will be 20% of the purchase price.

Bidder Verification
All bidders credit cards will be verified. South Auction reserves the right to ask any registered bidder for a bank letter of credit prior to or during the bidding period. The bidders account may be suspended or revoked if the bank letter of credit is not received. South Auction may ask for a bank letter of credit on a per bidder and/or per property basis. South Auction reserves the right to suspend bidding privileges for any or no reason either before, during, or after the auction with no notice to bidder. South Auction reserves the right to refuse service to any person. If a bidder is called or texted on the last day of the auction and does not respond to a text or call back their bidding privileges will be suspended until they have talked to an auction company representative.

Due Diligence
All property is being sold AS-IS, WHERE-IS, and with all faults and is selling subject to easements, leases, restrictions, covenants, conditions, zoning, and all other matters revealed by a current survey, inspection of the property, or contained in public records. ALL SALES ARE FINAL.

Inspection of Property
It is the bidder’s responsibility to determine if the information contained herein is accurate. Property is open to thorough public inspection, and we highly encourage an inspection of the property prior to bidding. Contact South Auction before inspecting the property. Bidder must conduct and rely on their own inspection and investigation to determine condition of property. All inspections are at your own risk. All properties are selling subject to seller confirmation.

Buyer’s Premium
A 10% buyer’s premium will be added to the high bid to arrive at the contract price.

Agency
South Auction strictly represents the seller and can bid on the seller’s behalf. Seller has the right to accept or decline any high bid. High bidder will be notified within 48 hours if their bid is accepted.

Earnest Money
A signed real estate auction contract and the earnest money must be mailed to auction company within 24 hours of the auction closing
Mail to: South Auction, 338 East Main Street Swainsboro, GA 30401
South Auction shall have the permission and authority to charge the winning bidder’s credit card up to $5000.00 on a specific property at the conclusion of the auction This charge will be credited back to the high bidder’s credit card once their earnest money is received. This charge will not be refunded if the high bidder does not close on the property and/or if the earnest money is not collected. South Auction will not be able to access or view any personal information and/or credit card information of any registered bidder. All transactions are handled through a third- party processor.

Auction End Time
This auction has an extended bidding feature. If a bid is placed on any property within the last 5 minutes of the auction, that will trigger the extended bidding feature on all properties. The bidding on all properties will remain open until the bidding is quiet for 5 minutes on all properties.

Closing
All closing costs are paid by the successful winning bidder.
All real estate transactions will close on or before: July 1, 2022
The closing will be conducted by Lea Gaskins Hazel PC, Adel, GA

Survey
If the property sells divided the survey will be conducted by Donaldson Survey of Swainsboro. The total purchase price of each tract may be adjusted up or down according to the final surveyed acres. The buyer is responsible for the survey cost at closing.

Broker Participation
2% of South Auction’s net commission is available to registered brokers, if approved. South Auction will not pay a commission to a broker who is representing themselves or an immediate family member. Broker registration form is available by emailing a request to: rusty@southauctiongroup.com.

Internet/Technical Issues
Any personal internet connection failures during the auction are the responsibility of the bidder. The auction will continue as normal, and the item will be sold. South Auction shall not be held responsible for any “missed” bids or bids unseen by the auctioneer. Bids are received immediately when they are entered by the bidder.

Additional Terms
1)    Property is being sold on an “as-is, where-is” basis, with no representations or warranties of any kind, expressed or implied.
2)    Property is open to public inspection, and it is the bidders’ responsibility to determine condition.
3)    South Auction, nor the seller, guarantees that each auction sign is accurately placed on the property being sold.
4)    All acreage reference in brochure, signs and online are estimated acres.
5)    No personal property is included with any property, unless specifically stated.
6)    South Auction makes no guarantee that any of the properties are suitable for septic tanks or wells or that any property has water or a septic tank available.
7)    Properties will transfer to high bidder via warranty deed.
8)    South Auction and winning bidder agree that any dispute arising under the terms and conditions of this sales contract or auction agreement shall be heard in the Superior Courts of Emanuel County, Georgia.
9)    Property will close with a General Warranty Deed
10)     All units are leased with a month-to-month lease. With no written lease in place.

Any questions should be directed to:
Rusty Lane: 478-455-1861
Brent Stephens 912-259-4789

156 Old Quitman Road
Adel, Georgia 31620
United States

Mini Mall Located in Adel, GA. GREAT chance to buy an income producing property.

10% Buyers Premium in place / 20% earnest money due if you are the winning bidder

Bidding Ends: May 25th with extended ending in place