PUBLIC REAL ESTATE AUCTION EVENT
ONLINE ONLY BIDDING!!
This valuable property is the present & future!! Take advantage of a rare opportunity to purchase I-95 property in a booming area. Place your bids and make it yours!!
Please bid early and often & understand that the online only bidding begins to close on Wednesday, July 31, 2024 @ 3:00PM (Eastern).
Property Tour: Friday, July 19 @ 1pm SHARP! Please contact Kelly Strauss for more information (540-226-1279)
- 7.5 +/- Acres of valuable commercial property (2 parcels: 4.7 +/- & 2.8 +/- acres)
- 28,486 +/- sf. Building (formally utilized as a cinema)
- Building has 27' eave height and features 9 movies screens (7 w/stadium seating), Dolby Digital sound & digital projection throughout, highest quality picture, 3-D movie projection, concert & sporting events via satellite and 1,325 seating capacity
- 224 parking spaces (asphalt parking lot)
- 490' +/- of I-95 Frontage; Daily traffic count on I-95 (North & South bound): 115,000 vehicles (both parcels total over 900' +/- of I-95 frontage)
- Utilities & storm water management on site
- Your neighbors are DMV, hotels, major fast food restaurants, U-Haul, hospital, community college & more!!
- Located off of Rt. 1 in the Southpoint I development, and less than 1 mile from I-95 interchange (Exit 126), 1 miles from Rt. 17, miles from Spotsylvania Regional Medical Center, 6 miles from Shannon Airport, 6.5 miles from Mary Washington Hospital & University of Mary Washington, 15 miles from Stafford Regional Airport, minutes form downtown historic Fredericksburg, and a short drive to Richmond, Northern Virginia & DC!!
- Tax Maps: 35-7-J1 & 35-7-JR; Zoned: C-3 (CLICK HERE for C-3 Zoning Uses); Yearly real estate taxes: $25,812 & $12,400.45; $100,000 deposit (wired funds or certified check ONLY) is due immediately after confirmation of final bid and the balance due at closing within 60 days; Building was completed in 1998; WE GUARANTEE A FREE & CLEAR DEED
- Only $2,000,000 Starting Bid!!
FOR REALTORS: If you are currently working with a Realtor and want them to represent you, please have them CLICK HERE and complete their broker participation form. In order for the Realtor to be compensated, broker forms must be completed and submitted no later than 5 pm on the day before the auction (7/30/24), and all terms adhered to. NOTE: Please contact auction coordinator, Kelly Strauss (540-226-1279), to discuss a higher commission rate with a pre-approved starting bid!!
TERMS: Thank you for your interest in this property. Contact Kelly Strauss if you need additional information (540-226-1279).
This online auction is not contingent on or subject to financing, appraisal, survey (property lines), study period or inspections of any kind, as agreed to by bidders at registration prior to bidding, and specified in the Offer to Purchase and Contract. Property is sold in as-is condition with no warranties or guarantees of any kind.
Per the contract, “TIME IS OF THE ESSENCE,” and you should proceed to closing immediately. You must close the transaction on or before 60 days from auction date. If your closing is delayed for any reason, by you, as purchaser, or other parties working on your behalf, including any lender you involve – you may be declared in breach of the contract, forfeit all deposits made, and could be additionally liable for any and all court costs, any price difference in a subsequent resale of the property, and all future auction costs incurred by the seller and Nicholls Auction Marketing Group, Inc.
Bid with confidence, but please do not delay your closing!
Terms & Conditions
Contract for Sale of Real Property: This property is offered under the specific terms provided in the contract. The Contract for Sale of Real Property is available at www.nichollsauction.com in the property information packet package located from within the “DOCUMENTS” section. Please read and review the contract thoroughly prior to bidding on any property. If you have not read and reviewed the Contract for Sale of Real Property, Do Not Bid!
Nicholls Auction Marketing Group, Inc. has the sole authority to resolve any bidding disputes as they may arise.
Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Nicholls Auction Marketing Group, Inc. will reject the registration, and bidding activity will be terminated.
Online Terms: A $100,000 (both parcels totaling 7.52 acres & building), $25,000 (2.8 acre land parcel) or $75,000 (4.72 acres & building) earnest money deposit will be required from the successful purchaser. At the close of the online auction, and seller confirmation, the successful bidder will be emailed or given the contract package to execute and return to Nicholls Auction Marketing Group, Inc. Upon being declared the high and successful buyer, the credit card that you registered with will be charged $500 toward your deposit. The successful bidder’s remaining earnest money deposit ($99,500, $74,500 or $24,500) must be in the form of cashier’s or certified check (United States Bank) or wire transfer to Nicholls Auction Marketing Group, Inc. and is due immediately. The entirety of the remaining balance is due at closing. Purchaser shall be responsible for all wire transfer fees. You may be asked to show proof of funds for the deposit (via text or email) prior to being approved to bid.
Buyer’s Premium: A 10% buyer’s premium will be added to the final bid price to determine the total contract price. 10% Buyer’s Premium Example: Bid Price: $100,000 Plus 10% Buyer’s Premium: $10,000 Total Contract Price: $110,000
Contracts: Contract Packages will be sent by e-mail to the high bidder, who must execute and email, fax or overnight mail back to Nicholls Auction Marketing Group, Inc., within 24 hours of receipt. If the successful bidder does not execute and return their contract with earnest money deposit within 24 hours of receipt they will be considered in default and subject to legal action. This is a legal binding contract.
Auction Administrative Fee: In the event a winning bidder fails to submit the signed ’Contract for Sale of Real Property’ and deposit earnest money as provided in the pre-stipulated Auction Terms, the winning bidder will be charged an administrative fee of $100,000 on the credit card provided at auction registration. Additional default remedies are reserved by Nicholls Auction Marketing Group, Inc., and the Seller as provided in the Auction Terms & Conditions and the ‘Contract of Purchase’. All administrative fees are non refundable.
Closing: Time being of the essence, these sales shall be closed on or before 60 days from auction date. The purchaser will pay for all of their closing costs associated with the transaction.
Agency Disclosure: In all transactions, the auctioneer is acting as agent for the seller, not as buyer’s agent. Nicholls Auction Marketing Group, Inc. reserves the right to remove or cancel the bids and or bidding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time. At auctions with reserve, the seller and/or auctioneer reserves the right to bid.
Disclaimer: All information contained herein is believed to be correct to the best of the auctioneer’s knowledge. The information is being furnished to bidders for the bidder’s convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete.
Any reliance on the contents shall be solely at the recipient’s risk. Bidders must conduct and rely solely upon their own investigations and inspections. The property is being sold ’AS IS’ with any and all faults. Please review all information supplied, and seek appropriate assistance prior to bidding.
Realtor Representation: If you are currently working with a Realtor and want them to represent you,they must submit a pre-approved Realtor representation form, found on the Nicholls website, no later than 5:00 pm Eastern on 7/30/24, in order to be compensated. Again, the real estate agent must fill out and submit the Realtor representation form by the time stated above and adhere to all rules in order to be compensated.
Technical Issues: Neither the company providing the software nor the auction company shall be held responsible for a missed bid or the failure of the software to function properly for any reason. The online bidding will begin to close on Wednesday, July 31, 2024 @ 3:00 PM (Eastern). If there is bidding in the last few minutes before the auction closes, extended bidding will commence. If there are no bids within 2-3 minutes, the auction will end. This procedure prohibits any last second 'sniping' from taking place. In the unfortunate event of a DDOS attack or server attack/shut down, the auction company reserves the right, but is not required, to change the bid closing deadline.
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