Sealed Bid Commercial Property Auction

SEALED BID AUCTION

Sealed Bids Due Wednesday January 30th

More information available at

TheLegendsLandAuction.com

Property Details:

Don’t miss this rare opportunity to bid on a prime piece of commercial land in the popular Kansas City Legends area.

This is one of the final significant properties along State Avenue in the area close to I-435 and I-70 Interchange, and is one of the largest entertainment areas and tourist destination in Kansas.

The 32± acre lot is located at the Southeast corner of I-435 & State Avenue and will be sold through a sealed bid auction with offers due on January 30, 2019. The sellers are committed to selling and pre-auction offers will be entertained. Don’t wait, make an offer now!

Southeast corner of I-435 & State Avenue’s 32± acre tract offers a unique opportunity to attract significant mixed-use development with ease of access to the I-435 Interchange.

  • 2,232± ft of frontage on I-435/State Ave East exit ramp
  • 2,315± ft of frontage on N. 98th Street
  • 833± ft of frontage on State Avenue
  • Current zoning – agricultural/residential

Potential Concepts:

  • Hotels
  • Mix-Use
  • Residential
  • Healthcare Facility
  • Car Dealership

Area Amenities:

This property, located in the area known as The Legends, is a tourist destination with big box anchors including the 82,000± seat Kansas Speedway, Hollywood Casino and Legends Outlets with 1.2± sq ft million gross square feet of destination shopping.  It offers exceptional interstate frontage and visibility, at an intersection in the immediate proximity of major entertainment, office, retail and tourism destinations with enough acreage for a wide variety of development.

Area Overview:

  • Shopping: Village West and the Legends Outlets boast shopping and entertainment venues such as Nebraska Furniture Mart, Cabelas, a 14-screen movie theater and Great Wolf Lodge.
  • Waterpark: The SEC of I-435 & State Avenue is southwest of the 370± acre Schlitterbahn Waterpark
  • Sporting Venues: Near the 170± acre U.S. Soccer National and Sporting KC Training & Coaching Center.
  • Additional attractions include the 6,300 seat T-Bone Ballpark and 18,500± seat Children’s Mercy Park soccer stadium.
  • The Cerner Corporation has constructed a 660,000± sq ft office complex for 4,000 health care employees.
  • Major EmployersOn the east side of I-435, Dairy Farmers of America (DFA) are moving their 100,000 sq ft global headquarters. The DFA is the metro’s largest private company and employs 325 people.
  • Development continues with JC Penney, Best Buy, Walmart Supercenter and Target.
  • This powerful combination of employment, lifestyle shopping, entertainment and sports venues attracts over 12 million tourists, fans and shoppers annually to the immediate area.

Attachments: (9)


TERMS AND CONDITIONS

Auction Terms:

All bidders and participants of this sale agree that they have read and fully understand the following terms and agree to be bound by the terms and conditions contained herein.

SEALED BID SUBMISSION FORM:  Sealed bids MUST be properly completed and submitted on the required “Sealed Bid Submission Form” which is attached. By submitting a bid, each bidder is agreeing to all Terms and Conditions of the sale. Bids not submitted on a properly and fully completed (and signed) Sealed Bid Submission Form may be rejected by Seller at its sole discretion.

ACCEPTANCE OF WINNING BID PRICE:  The successful bidder(s) will be required to enter into a Real Estate Auction Purchase Agreement (“Purchase and Sale Agreement”) after acceptance of a bid/offer.  The successful bidder shall have two (2) business days after notification of their accepted bid/offer to execute and return the Real Estate Auction Purchase Agreement with the balance of the (10%) Escrow Deposit to the Auctioneer: United Country – Kansas City Auction and Realty, attention Shawn Terrel, 2820 NW Barry Rd. Kansas City, MO 64154.

ESCROW DEPOSIT: A deposit of Ten Percent (10%) of the Total Contract Price will be required to be sent in with the executed Real Estate Auction Purchase Agreement. The deposit check should be made payable to (Resolutions Title) and may be a certified check or wire transfer.

BUYER’S PREMIUM: A Five Percent (5%) “Buyer’s Premium” will included in the offer to determine the TOTAL CONTRACT PRICE (High Bid + Buyer’s Premium = Total Contract Price)

FINANCING & LOCAL APPROVALS:  The auction sale is not contingent on the buyer(s) ability to obtain financing or local approvals.

INSPECTION OF PROPERTY:  Anyone interested in the subject property is invited and encouraged to thoroughly inspect the property prior to submitting a sealed bid offer. The property is being sold on an “AS IS, WHERE IS” basis. No warranties or representations either express or implied, concerning the property is made by the Seller or the Auction Company. Interested purchasers are strongly encouraged to perform their due diligence prior to submitting a bid for the property.

INSPECTION PERIODS: The property is vacant so bidders are invited to inspect the property at their leisure, any time prior to the end of auction.  Property Showing Period: the property preview date is scheduled for Friday, November 30th, 2018 from 12:00 to 2:00pm.

POSSESSION:  Possession of the property will be transferred at closing by Warranty Deed.

TITLE INSURANCE, FEES & CLOSING:  Seller shall provide the Buyer with a commitment for title insurance showing merchantable title in the Seller.  Buyer shall be solely responsible for the payment of all premiums and fees associated with title insurance, including any and all closing fees or recording charges.  Closing shall take place within thirty (30) days following acceptance of the offer(s), subject to closing terms as set forth in the purchase sale agreement.

BROKER PARTICIPATION:  A Two Percent (2%) Buyers Broker Commission based on the High Bid will be paid to any properly licensed real estate broker whose Bidder successfully purchases, closes and pays the Total Contract Sales Price for the subject Property.  The Buyers Broker must complete the Buyers Broker Registration Form and return it to Auctioneer no later than 24 hours prior to the bid submission deadline, which is Tuesday, January 29, 2019 at 4:00pm (CST).  A copy of the Buyers Broker Registration Form is available at www.BidNowKC.com or by contacting the Auctioneer.

ALTERATIONS AND MODIFICATIONS:  The Terms and Conditions contained herein are subject to change without notice.

LOTS/CATEGORIES

Real Estate Property (1)
Commercial-Property
Withdrawn
Kansas City Kansas Commercial Development Site Auction

32.00 Acre
  • Legends Commercial Property
  • Commercial Property Auction
  • Kansas Development Land
  • Sealed Bid Auction
  • December Land Auction
  • Kansas City Auction
  • Kansas Land for Sale
  • Kansas Commercial Land

9901 State Avenue
MLS #: 24215-18045

Online only

Start bidding :
11/13/2018 12:13 PM CST
End bidding :
1/30/2019 12:00 PM CST

Shawn Terrel

Auctioneer