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COMMERCIAL AND RESIDENTIAL REAL ESTATE AUCTION - 4 TRACTS IN NORMAN, OKLAHOMA

Norman, Oklahoma

Thu, Aug 29, 2019

SOLD FOR $800,800

• 4 Tracts • 3,520 sq. ft. - 3 Tenant - Commercial Building - 200 N. University Blvd. • Quality Multi-Tenant Building • Highly Visible Location at the Intersection of N. University Blvd. & W. Gray St. • 1,699 sq. ft. Single Family Home - 1009 W. Lindsey St. • Beautiful Location, Only 5 Blocks from OU Campus • Large, 16,323 sq. ft. Lot • 2-7,000 sq. ft. City Lots - 229 & 215 N. University Blvd. • Zoned Suburban Office Commercial • Great Location with Large, Mature Trees • ONLINE BIDDING AVAILABLE You may bid online during the auction at www.schraderauction.com. You must be registered One Week in Advance of the Auction to bid online. For online bidding information, call Schrader Auction Company at 800-451-2709.

1009 W Lindsey Ave, Auction Tract 1:
200-229 N University, Tracts 1-3:

OPEN HOUSE/INSPECTION DATES

200 N University Blvd.
Tues, Jul 30 from 10am - Noon
Sat, Aug 17 from 10am - Noon
Wed, Aug 28 from 10am - Noon

1009 W Lindsey St.
Tues, Jul 30 from 2 - 4pm
Sat, Aug 17 from 2 - 4pm
Wed, Aug 28 from 2 - 4pm

PROPERTY LOCATION

Tract 1: 200 N. University Blvd.
Tract 2: 215 N. University Blvd.
Tract 3: 229 N. University Blvd.
Tract 4: 1009 W. Lindsey St.

AUCTION LOCATION

Held On Site (Tract 1) at 200 N University Blvd, Norman, OK

PROPERTY DESCRIPTION

A unique portfolio of real estate in Norman, Oklahoma, offering opportunities for a variety of Buyers! Included is a quality commercial building located at 200 N University Blvd, an attractive single family home on W Lindsey St and two (2) commercial zoned lots on N University Blvd. The diversity provides opportunities for business owners, developers, investors and those searching for a single-family home to participate in the auction. Review the description of each individual property for more details about each!


Tract 1: 200 N University Blvd - Currently structured as a three tenant commercial building, zoned C-1 - Local Commercial District, this property has lots of potential for a variety of users. Each individual space could be kept separate for a multi-tenant investment property. For end users seeking a larger space the current configuration could be altered to meet your individual needs. Previous owner occupied one units for many years and leased the remaining two as commercial space. The highly visible location in combination with the multiple options makes this a terrific opportunity.

Tract 2: 215 N University Blvd - 7,000 sq. ft. lot, zoned CO - Suburban Office Commercial District.

Tract 3: 229 N University Blvd - 7,000 sq. ft. lot, zoned CO - Suburban Office Commercial District.

Tract 4: 1009 W Lindsey St - Attractive 2 bedroom, 2 bath home in an outstanding location off W Lindsey St! With newly constructed homes on two sides of the property, this neighborhood is currently seeing vibrant growth and being located only 5 blocks from OUs campus you can understand why! The 1,699 sq. ft. home is situated on a spacious 16,323 sq. ft. lot with a lovely back yard and circle driveway fronting W Lindsey St. Given the location and size of this beautiful lot, some buyers may investigate the possibility of new construction on the site!

AREA MAP(S)

PROCEDURE: Tracts 1 through 4 will be offered in individual tracts, in any combination of these tracts, or as a total unit per auction date and time. There will be open bidding on all tracts and combinations during the auctions as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete. The property will be sold in the manner resulting in the highest total sale price.

BUYERS PREMIUM: The contract purchase price will include a Buyers Premium equal to 4% of the bid amount.

DOWN PAYMENT: 10% of the total contract purchase price will be due as a down payment on the day of auction, 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. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

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. The auction bids are subject to the acceptance or rejection by the Seller.

DEED: Seller shall be obligated only to convey a merchantable title by Personal Representatives Deed, Without Warranty.

EVIDENCE OF TITLE: Seller agrees to make available to bidder a preliminary title insurance commitment to review prior to auction. The cost of title insurance, if the buyer(s) elects to purchase the title insurance policy, will be the responsibility of the buyer(s). Seller agrees to provide merchantable title to the property subject to matters of record, general conditions of title, and similar related matters. All tracts sold AS-IS.

CLOSING: The closing shall take place 45 days after the auction or as soon thereafter as applicable closing documents are completed by Seller.

POSSESSION: Possession shall be at closing.

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.

ACREAGE AND TRACTS: All acreages and square footages are approximate and have been estimated based on current legal descriptions, property tax records and/or aerial photos. Any corrections, additions, or deletions will be made known prior to the auction.

AGENCY: Schrader Real Estate and Auction Company, Inc. and their representatives are exclusive agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, 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. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents 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. ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

NEW DATE, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes or additions to the property information.