Timed Online – Commercial Real Estate Auction

Mason City, Iowa
Located at 1519 4^th Street SW

Real Estate Auction
Bidding Opens: Wednesday, April 22^nd     
Bidding Closes: Wednesday, April 29^th, 2020 at 1PM

Open House on Wednesday, April 15^th from 1-2pm

<Click Here> To View Restaurant Equipment that is up for sale! 

5,120 SQ.FT. BUILDING ON 0.79 ACRES M/L

The building of this former Wood Fire Grill restaurant & bar is ready for a new owner!  Here is your chance to bid on a highly visible building with a large parking lot.  Currently zoned Z4 Multi-Use District with surrounding accompanying businesses.  Please note this property is within Mason City’s “Opportunity Zone”  < Click Here > to find out more about the Opportunity Zone or visit with the North Iowa Corridor Economic Development Corp at 1-800-944-1708.

The building offers plenty of dining area with a maximum capacity of 200 people.  There is also an adjoining bar, covered outdoor seating area and bathrooms.  The back end of the building has a large kitchen & prep area, large walk in cooler/freezer, dishwasher room, mechanical room, office & outside covered storage area.

Included: Walk in cooler/freezer, Light fixtures, Outdoor sign, Any item present on the day of the closing.
Not included: Booths, Attached decorations, Exhaust hoods & Ansul systems, Flat screen TV’s, All restaurant equipment, attached or unattached.

Terms:10% down payment on April 29, 2020.  Balance due at closing with a projected date of June 12, 2020, upon delivery of merchantable abstract and deed and all objections have been met.
Possession: Projected date of June 12, 2020.
Real Estate Taxes:  To be prorated to date of possession on the basis of the last available tax statement.  Seller shall pay any unpaid real estate taxes payable in prior years.

Real Estate Taxes
Gross              $24,587.17
Business Cr.   ($2,961.12)
Net(Rounded) $21,626.00

SPECIAL PROVISIONS:

~ This online auction will have a 10% buyer’s premium, capped at a $1,000 maximum charge.  This means the buyer’s premium in the amount of ten percent (10%) of the bid amount shall be charged to the Buyer and added to the bid amount to arrive at the total contract purchase price.
~ Down payment is due on the day the bidding closes.
~ Seller shall not be obligated to furnish a survey.
~ This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.
~ Purchasers who are unable to close due to insufficient funds or otherwise, will be in default and the deposit money will be forfeited.
~ This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.
~ If in the future a site clean-up is required it shall be at the expense of the buyer.
~ The buyer acknowledges that buyer has carefully and thoroughly inspected the real estate and is familiar with the premises. The buyer is buying this real estate in its “as is” condition and there are no expressed or implied warranties pertaining to the condition of the real estate.
~ Steffes Group, Inc. is representing the Seller.
~ Any announcements made the day of sale take precedence over advertising.

 

Owner: First Citizens Bank
Jeffrey Gribben – Vice President

 

For information contact

Nate Larson at Steffes Group, 641.423.1947 or 641.530.5528 
Duane Norton at Steffes Group, 641.423.1947 or 515.450.7778

Disclaimer:

Announcement: Information contained herein is presented on behalf of the seller. Steffes Group Inc., agent for the seller, cannot guarantee the information to be correct or assume the liabilities for errors and omissions. All lines drawn on maps are approximate. Buyers should verify the information to their own satisfaction. Any announcements made from the auction block on day of auction will take precedence over any matter of print and will be final.