OLO Syracuse Commercial Real Estate Auction - Min. Bid $299,900
Open House: July 16th 11am-1pm. Can't make it? Call for a private showing.
Online Only
Real Estate Auction
Bidding Begins to Close July 30th @ 6:00pm EDT
Located at 417 South Huntington Street Syracuse, IN.
Here is your opportunity to purchase one of the most established restaurants in downtown Syracuse. With a strong history of 75+ years, this drive-in restaurant has been recently remodeled but due to health issues of the owner he is being forced to sell. Built in 1954, this 4500+ square foot building features a covered outdoor dining area, indoor dining area, fully remodeled kitchen with brand new kitchen equipment, office area, public bathroom, and on the second floor a full living quarters with 3 bedrooms and 1 bath. The upstairs apartment can be rented separately for additional rental income. Property has ample amount of additional storage on the main level and second level of the property. With the additional space on the main level, the space could be split to create additional offices for additional rental income. This 0.47 acre commercial lot has over 120 feet of frontage on IN-13. Don't miss this opportunity to bid and buy a great business in the heart of Syracuse Indiana and only blocks from Lake Wawasee. Taxes 2024 Pay 2025: $2,906.50 (taxed at 1% and 3% rates).
Minimum Opening Bid: $299,900.00
"Sells to the highest bidder at or above the opening bid!"
Open House: July 16th 11am-1pm. Can't make it? Call for a private showing.
Owner: Aaron Allen
General Terms: $10,000 non-refundable down payment due within 24 hours of sale closing, sold as-is, closing in 30 days, possession at closing, trustee deed, taxes pro-rated and final to day of closing, minimum opening bid $299,900, and subject to a 10% buyer's premium. Buyer broker participation is welcome.
Kraft Real Estate Auctions, LLC - AC31900011
Col. Conrad Kraft- AU01023657
Jonathan Kraft – AU10500173
Kyle Dukes - AU12400074
Managing Broker: Jay Mayden
574-516-9395 - 219-973-9240 ~ Info@KraftAuctions.com
KraftAuctions.com
DOWN PAYMENT: $10,000 down payment within 24 hours of auction closing and with balance in cash at closing. The down payment may be in the form of cash, cashiers check, personal check or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.
BUYER`S PREMIUM: A buyer's premium of 10%, will be added to the final bid price of the property.
APPROVAL OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers acceptance or rejection.
DEED: Seller shall provide a warranty deed.
EVIDENCE OF TITLE: Seller shall provide title insurance in the amount of the purchase price.
CLOSING: Closing shall take place in 30 days,
POSSESSION: At closing.
REAL ESTATE TAXES: Taxes are pro-rated and final at day of closing
ACREAGE: All acreage is approximate and has been estimated based on current legal descriptions and/or aerial photos.
SURVEY: There shall be no survey
EASEMENTS: The sale of the property is subject to any and all easements of record.
DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials is subject to the Terms and Conditions outlined in the Purchase Agreement. Tract acreage has been estimated based on aerial photographs. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or the Auction Company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquires, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. All sketches and dimensions in this brochure are approximate. Except for any express warranties set forth in the sale documents, purchaser(s) assumes all risks thereof and acknowledges that in consideration of the other provisions contained in the sale documents, Seller and the Auction Company make no warranty or representation, express or implied or arising by operation of law, including an warranty of merchantability or fitness for a particular purpose of the property, or any part thereof, and in no event shall Seller or the Auction Company be liable for any consequential damages. Conduct of the auction and increments of bidding are at the direction and discretion of the auctioneer. The Seller and Auction Company reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the auctioneer are final.
ANNOUNCEMENTS MADE BY THE AUCTION COMPANY AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL, OR ANY OTHER ORAL STATEMENTS MADE.