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SEALED BID AUCTION DEVELOPMENT LAND BUYER OPPORTUNITY - 39+/- ACRES OFFERED IN 7 TRACTS IN KILLEEN, TEXAS

Killeen, Texas

Tue, Dec 8, 5:00 PM

• Exciting Development Land Buyer Opportunity • 39+/- Acres offered in 7 Tracts • Excellent Development Potential • 2,200+/- Ft. Frontage on Stan Schlueter Loop • 20,000+ Avg. Daily Traffic Count - 2015 • Currently Zoned R-1 • Excellent Visibility • 2 Corner Tracts on Cunningham Rd. Intersection

Bid Delivery Options:
Option 1:
Deliver to Auction Representative on Auction Tract 1 between Noon and 5PM on December 8, 2020
Option 2: Deliver to 101 N Main Street, Stillwater, OK 74075, Attention: Brent Wellings by December 8, 2020


Auction Info Book


OPEN HOUSE/INSPECTION DATES

Monday, December 7 from 12 - 3 pm
Tuesday, December 8 from 12 - 3 pm

or by scheduled appointment

PROPERTY LOCATION

Directions to Property: Property is located at the intersection of Stan Schlueter Loop and Cunningham Road in Killeen, Texas. Watch for Signs.

AUCTION LOCATION

SEALED BID AUCTION

PROPERTY DESCRIPTION

This property represents an excellent opportunity to acquire quality development land, in the heart of Killeens expanding commercial and residential district, along Stan Schlueter Loop. 39+/- acres will be offered in 7 individual tracts, which range in size from 5+ acres to 8.5+/- acres, providing an opportunity for Buyers to acquire the property that best fits their needs. With over 2,200 feet of frontage along Stan Schlueter Loop and a property that encompasses two sides of the Cunningham Road intersection, there are a variety of potential uses for the acreage. The property is currently zoned R-1 and has access from both Stan Schlueter and Cunningham Road. Through the multi-parcel bidding system, Buyers can submit bids on any individual tract, combination of tracts or the entire property making it simple to place bids on those tracts which best fit your needs. Please call or email for more detail information about the property and the process.

TRACT DESCRIPTIONS

Tract 1: 5± ac located on the NE Corner of Cunningham Road and Stan Schlueter Loop, excellent visibility.

Tract 2: 5± ac located along Stan Schlueter Loop.

Tract 3: 5± ac located along Stan Schlueter Loop on the eastern boundary of the property, adjacent to Walmart Neighborhood Market.

Tract 4: 8.5± ac located on the north end of the property, scattered trees, level topography and accessed from Cunningham Road.

Tract 5: 5± ac located on the SE Corner of Cunningham Road and Stan Schlueter Loop, another excellent corner lot.

Tract 6: 5± ac located along Stan Schlueter Loop.

Tract 7: 5± ac located along Stan Schlueter Loop along the eastern boundary of the property, includes a nice pond!

TRACT MAP(S)

AREA MAP(S)

BIDDING PROCEDURE: The property will be offered via a Sealed Bid Auction. You may bid on individual tracts, any combination of tracts or the entire auction property as a whole unit. You submit any of the following types of bids: single bid for a single tract, single lump sum bid for all or any combination of tracts, multiple alternative bids for different tracts or different combinations, or multiple independent bids for different tracts or different combinations. Bidding procedures will be outlined more specifically in the Sealed Bid Packet. All bids are subject to the Sellers acceptance or rejection.

PURCHASE CONTRACT: With the submission of a Bid(s), each Buyer is required to sign the purchase contract documents in the forms provided in the Sealed Bid Packet. All statements and information in the marketing materials are subject to the terms and conditions of the purchase contract documents. Seller shall not be bound by any statement, promise or inducement that is not contained in the purchase contract documents.

BUYERS PREMIUM: The purchase price will be the bid amount plus a 4% buyers premium.

DOWN PAYMENT: 10% of the total contract purchase price must be delivered with your sealed bid, with the balance due in cash at closing. The down payment may be made in the form of cashiers check, personal check, or corporate check. If your bid is not accepted, your check will be returned to the address you provide with your sealed bid. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

DEED: The property will be conveyed by Warranty Deed, subject to the Permitted Exceptions.

TITLE INSURANCE: Seller will furnish, at Sellers expense, a standard owners title insurance policy, subject to the Permitted Exceptions.

CLOSING: The targeted closing date will be approximately 45 days after Sellers acceptance deadline.

POSSESSION: Possession shall be at closing.

SURVEY: A new survey will be obtained only if necessary to record the conveyance or if otherwise deemed appropriate in the Sellers sole discretion. If a new survey is obtained, the survey cost will be shared equally by Seller and Buyer.

TRACT MAPS / ACRES: All tract maps and acre estimates in the marketing materials are approximations based on existing tax parcel data, legal descriptions and/or aerial mapping data and are not provided as survey products.

REAL ESTATE TAXES: Real Estate taxes shall be prorated to the date of closing.

MINERALS: Seller specifically excepts and reserves all minerals, including without limitation, oil, gas, coal, coalbed methane, and all other hydrocarbons, lignite, and all metallic minerals, etc., if any, associated with the referenced real estate, and the term Property will not include any mineral rights.

CONDUCT OF AUCTION: The conduct of the Sealed Bid Auction will be at the direction and discretion of the Auction Manager. Seller and its agents reserve the right to preclude any person from bidding if there is any question as to the persons identity, credentials, fitness, etc.

AGENCY: Schrader Real Estate and Auction Company, Inc., Paul A. Lynn & Associates, LLC and their respective agents and representatives are exclusively the agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: ALL PROPERTY IS OFFERED AS IS, WHERE IS, WITHOUT ANY WARRANTY AS TO ITS CONDITION OR ITS SUITABILITY FOR ANY PARTICULAR USE OR PURPOSE. Prospective bidders are responsible for conducting their own independent inspections, investigations, inquiries and due diligence concerning the property. The information contained in the marketing materials is provided in order to facilitate (and not as a substitute for) a prospective bidders pre-auction due diligence. All marketing materials are subject to a prospective bidders independent verification. Seller and Sellers agents assume no liability for any inaccuracies, errors or omissions in such materials. All sketches and dimensions are approximate.

CHANGES: Please regularly check www.schraderauction.com to review any changes and/or additional information. THE PURCHASE CONTRACT DOCUMENTS WILL SUPERSEDE THE MARKETING MATERIALS AND ANY OTHER PRIOR STATEMENTS.