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SOLD IN 3 WEEKS AND 10 MINUTES! 41 Unit Mini Storage INCOME PRODUCING! Business Opportunity Knocking!

Bank Says, "SELL IT!" .91 ac * Mini Storage * 41 Units * Billboard Lease Income

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Brief Description

41 unit Mini Storage Business .91 ac on Hwy 82 near Greenwood - includes Billboard Lease income:  See Details page.

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Details

.91 Acres and 41 unit Hwy 82 Mini Storage - also includes Billboard rental income.  180 ft. frontage on Hwy 82 West across from Heartland Fish Processing Plant between Itta Bena and Greenwood in Leflore Co. MS.

Built 1999 * Fenced *  Lighted * Steel Frame Construction * Room to Expand 

Leflore County Tax Appraised Value =  $63,830

2009 Taxes = $947.45 

Income to be realized at 100% leased:

18 units 5ft X 10ft   @ $25 mo  =  $450.00 mo

18 units 10ft X 10ft @ $40 mo  =  $720.00 mo

2 units 10ft X 15ft   @ $50 mo  =  $100.00 mo

2 units 10ft X 20ft   @ $60 mo  =  $120.00 mo

1 unit  10ft X 30ft   @$70 mo   =    $70.00 mo

Total if 100% leased $1,4600.00 per mo or $17,520.00 per year. 

Annual billboard ground lease income: $1,500 thru 12/31/2016 ($7,500 total)

Lessee also has the option to renew billboard ground lease for (2) five year terms at an increase of $200 per year for each 5 year term.  Annual ground lease would then be $1,700 for 01/01/2016 thru 12/31/2020.  Billboard ground lease would then increase to $1,900 per year for 01/01/2021 thru 12/31/2025.        

Be sure to click on the "Documents" link to the right. 

 

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Auction Terms

REAL ESTATE TERMS:

REGISTRATION:  In order to obtain a bidder's number, you must present a valid driver's license and certified funds in the amount of $2,500.  (We do not take these up, you simply show the certified funds to register to bid.) This cashier's check will be made payable to yourself.  If you are the successful bidder, you will simply sign it over to the auction company and we in turn sign it over to the closing attorney to be held as earnest money in escrow until closing.  If you are not the high bidder, the cashier's check is in your name and your possession to do with as you will.  We receive this question often and it is important that you understand that it does not cost money to register to bid, the cashier's check will stay in your possession and you only need to show it at registration in order it to register to bid.

REAL ESTATE TERMS: The high bidder will be required to place a non-refundable bid deposit of $2,500, which will be held as earnest money in escrow until closing and will then be credited to the buyer as part of the purchase price of the property. The successful bidder must sign the real estate contract immediately upon conclusion of the bidding with the closing to take place within 30 days from the date of the auction. The entire purchase price must be paid by cashier’s check or certified check, or wired funds at closing.

NO CONTINGENCIES:  No purchase shall be contingent on financing or any other contingencies. Buyer is entitled to and the seller will provide a deed marketable title for property upon full payment.  

CONDITION OF PROPERTY: Property is sold "AS IS, WHERE IS" condition and neither Kelly Hogue, auctioneer of Blue Sky Auctions, LLC, the sellers, nor their representatives, agents, or employees make express or implied warranties or representations of any kind.

QUESTIONS: Questions will be entertained only prior to the commencement of the Auction proceedings. Please see a bid assistant for questions during the sale itself. If any dispute arises between or among bidders, the decision of the Auctioneer shall be final and absolute.

BUYER’S PREMIUM: A buyer’s premium of 10% will be added to the high bid to determine the total price for the real estate.

DISCLAIMER: Announcements made at the auction supersede all printed material or any oral statements made by anyone employed by, representing, or associated with Blue Sky Auctions, LLC. All information included herein was derived from sources believed to be correct, but is not guaranteed.

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Blue Sky Auctions LLC

http://auctionbluesky.com

133 Executive Dr., Suite C Madison, MS 39110

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AuctionServices
KELLY HOGUE
133 Executive Dr., Suite C, Madison, MS 39110
(601) 209-3291 or (601) 853-0682