Alexander Commercial Property in Berea - Live/Online Court Ordered Auction

LIVE/ONLINE COURT ORDERED AUCTION

FRIDAY, DECEMBER 6th @ 10:30 A.M.

COMMERCIAL PROPERTY (ZONED B2)

400 W. JEFFERSON ST., BEREA, KY

CASE# 23-CI-00015

Versatile Commercial Property with Buildings & Amenities on 1.31 Acres!

Don’t miss out on this exceptional commercial property auction featuring a sprawling two-story commercial building measuring approximately 140’ x 61’ on 1.31 acres. This property offers ample space, practical amenities, and multiple income-generating possibilities. With extensive garage space, an on-site apartment building, and essential utilities in place, this property is primed for a wide range of business operations or investment opportunities.

Main Commercial Building:

• Impressive 2 story building measuring approximately 140 x 61 ft.

• 2 garage spaces equipped with overhead doors, perfect for storage, logistics, or workshop needs.

• Flooring: Concrete floors, Partially Carpeted, Tile

• Facilities: Includes a break room, 1 full bath, and 3 half baths.

• Utilities: Access to water, sewer, and gas connections, providing convenience and flexibility.

Additional Garage Building:

• Approximately 40 x 80 ft. concrete block structure with solid concrete flooring.

• Functionality: Ideal for storage, mechanical work, or as an auxiliary workspace.

Apartment Building:

• Downstairs Unit: Unfinished 1 bedroom, 1bath unit withkitchen and living room – a blank canvas ready to be tailored to your needs.

• Upstairs Unit: Remodeled in 2021, featuring 1 bedroom, 1 bath, kitchen, and living room with carpet and linoleum flooring. Equipped with a refrigerator and stove, this unit is move-in ready.

All of this situated on 1.31 acres w/ plenty of room for parking, storage, or potential expansion.

This property is a rare find with incredible potential for owner-operators, business expansions, or investors seeking a multi-purpose site. With versatile buildings, onsite housing, ample garage space, and utility-ready facilities, the possibilities are endless. Don’t miss this chance to acquire a commercial property with room to grow and adapt to your vision!

Outline of tract in aerial picture is approximate lines.

PREVIEW: Friday, November 29th from 1 P.M - 5 P.M EST & Friday, December 6th from 9 A.M. - 10:30 A.M. EST

AUCTION PREMIUM: A 10% Auction Premium will be added to the winning bid to determine the final sale price.

TERMS: 20% down due day of sale, with balance in 30 days with deed. Online winner: 20% down due within 48 hours of close of bidding, with balance in 30 days with deed.

Auction Premium: There will be a 10% Auction Premium added to the winning bid to determine the final sale price.

PROPERTY IS OFFERED UNDER THE SPECIFIC TERMS PROVIDED IN THE PURCHASE CONTRACT. 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 ESTATE, DO NOT BID.

SERVER & SOFTWARE TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Ford Brothers, Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor FORD BROTHERS, INC. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information as deemed necessary by Ford Brothers, Inc.

REAL ESTATE TERMS: 20% of the total sale price down as a non-refundable earnest money in the form of a certified check, cash or wire transfer within 48 hours of the close of auction. We do not accept a credit card for down payment. The balance of purchase price is due at closing, said closing to be within 30 days of close of bidding. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Contract for Sale of Real Estate.

This auction is a CASH SALE not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the attached Contract for Sale of Real Estate.

GOOD INSURABLE GENERAL WARRANTY DEED AT CLOSING.

AUCTION PREMIUM: There will be an auction premium of 10% added to the bid price to arrive at final purchase price. Example: Bid Price $100,000 plus $10,000 (10% auction Fee) equals purchase price of $110,000.

AUCTION BIDDER DEFAULT: Successful bidder not executing and returning the contract with earnest money deposit within 48 hours of the conclusion of the auction will be considered in default. In the event a winning bidder fails to submit the signed Contract for Sale of Real Estate and 20% earnest money deposit, the winning bidder will be charged a penalty fee of $5,000.00 on the credit card provided at auction registration. Additional default remedies are reserved by Ford Brothers, Inc. and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. Ford Brothers, Inc. reserves the right to sell to the second-highest bidder in the event the successful high bidder does not comply with the terms of the sale.

Any dispute between Ford Brothers, Inc., its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Madison County, Kentucky. By bidding on the property, buyer agrees to all terms and conditions set forth.

Acceptance of Bid Prices: Successful bidder(s) will be required to enter into a purchase agreement immediately following the close of the auction. Ford Brothers, Inc. will e-mail documents to be executed and said documents should be faxed or e-mailed back to Ford Brothers, Inc. within 48 hours of the end of the auction. Successful bidders not executing and returning contracts with earnest money deposit within 48 hours will be considered in default. Any and all inspections that a buyer may want must be done at buyer’s expense prior to the close of the online bidding. Ford Brothers, Inc.'s Agents, Representatives or Employees may bid.

Title: As specified in the Contract for Sale of Real Estate

Deed: As specified in the Contract for Sale of Real Estate

Possession: As specified in the Contract for Sale of Real Estate

Real Estate Taxes and Closing Cost: All real estate taxes will be paid by seller for 2024. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees and any cost associated with the purchaser’s loan.

The seller will pay for deed preparation and deed tax.

Easements: Subject to any and all easements of record, including road easements and utility easements

Zoning: This property is subject to all state and local zoning ordinances.

Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Ford Brothers, Inc. will reject the registration, and bidding activity will be terminated. The Seller and Ford Brothers, Inc. reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges.

Agency: Ford Brothers, Inc.' Agents and Representatives are agents of the Seller. Buyer and or Bidder agrees to hold harmless and indemnify Ford Brothers, Inc. and its Agents and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.

NEW DATA, CORRECTIONS & CHANGES: Please check for updated information prior to scheduled auction time to inspect any changes, corrections, or additions to the property information. Disclaimer & Absence of Warranties: All information contained in this information packet and all related materials are subject to the terms and conditions outlined in the Contract for Sale of Real Estate agreement. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation either expressed or implied, concerning the property is made by the Seller or Ford Brothers, Inc. Agents or Representatives. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure and on the website is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller, Ford Brothers, Inc., Agents or Representatives. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. All decisions of Ford Brothers, Inc. are final. Any dispute between Ford Brothers, Inc., its Agents or Representatives and the Buyer(s) will be tried in a court of jurisdiction in Madison County, Kentucky. By bidding on the property, buyer agrees to all terms and conditions set forth.

Auctioneer/Broker/Seller Disclaimer: The information contained herein is believed to be correct to the best of the auctioneer’s knowledge. The information is being provided for the bidder’s convenience and it is the bidder’s responsibility to determine the information contained herein is accurate and complete. The property is selling in its ‘as-is’ condition with no warranties expressed or implied.

For additional information, contact Ford Brothers, Inc. Auctioneers at 1-800-435-5454.

Alexander Commercial Property in Berea - Live/Online Court Ordered Auction

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