•
SEALED BIDS DUE THURSDAY, JANUARY 25TH by 5pm (CST)
•
Ideally Located 1/2 Mile off I-35
•
New I-35 Diamond Interchanged Planned by ODOT in FY 25'
•
9.24+/- acres Lot - Substantial Redevelopment Potential
•
2 City Lots Offered Separately
•
Repurposing Opportunities for Other Medical Uses
SEALED BID AUCTION - 61,574 SQ. FT. MEDICAL HOSPITAL ON 9.24+/- ACRES AND CITY OWNED LOT WITH SUBSTANTIAL REDEVELOPMENT POTENTIAL IN PURCELL, OKLAHOMA
1500 N Green Ave., Purcell, OK 73080
Thu, Jan 25, 2024 CENTRALAUCTION IS OVER
TOTAL SOLD: $101,111
| Tract(s): 2 | @ $101,111 |
UPDATE: Your bid must be submitted (or resubmitted) using version 4c of the form of Agreement to Purchase included with the Sealed Bid Packet (REVISED, version 4c) posted on 1/19/2024. If you are bidding on Tract 1, please be aware of Subsection 25(i) regarding recent water damage, which was recently added to the Agreement to Purchase (and subsequently revised in v. 4c).
OPEN HOUSE/INSPECTION DATES
Thursday, December 14th from 9am-Noon
Thursday, December 28th from 9am-Noon
Tuesday, January 16th from 9am-Noon
Thursday, January 25th from Noon-5pm
PROPERTY LOCATION
Deliver Bids To:
Attn: Brent Wellings
101 N Main St, Stillwater, OK 74075
Deliver To Property:
1500 N Green Ave., Purcell, OK 73080
January 25 between Noon - 5pm CST
PROPERTY DESCRIPTION
Genuinely unique opportunity to acquire outstanding commercial property along the I-35 corridor in Purcell, OK. The centerpiece of this offering is the former Purcell Municipal Hospital located at the intersection of Green Ave and W Grant St, situated on 9.24+/- acres of excellent development land. An important feature of the property is the new on/off I-35 interchange planned for the Grant St exit. ODOT has allocated $36,000,000 for this project in the Construction Work Plan for Fiscal Year 2025, completion of the project is expected in 2027. The new interchange substantially increases the accessibility of this property to the I-35 corridor, creating enhanced redevelopment potential. The 61,574 SF former municipal hospital building could also be repurposed for other uses and includes a full suite of medical space: Emergency Room, 28 Bedrooms, Surgery Center, Operating Rooms, Labs, Trauma Rooms, Medical Offices, Kitchen, Admin and Maintenance facilities. Also included in the offering at two city owned lots located on N 9th Ave in Purcell. These lots are well positioned for development, located directly adjacent to newly constructed medical space with excellent visibility.
TRACT DESCRIPTIONS
Tract 1: 9.2± ac 61,574 SF former hospital and maintenance building located on 9.24+/- acre lot at the intersection of W. Grant St and Green Ave! Opportunity to acquire the premier commercial development property currently being offered along the I-35 corridor!
Tract 2: Two city lots located on N 9th Ave in Purcell - ready for development and located directly adjacent to new medical construction. Excellent opportunity to invest in highly visible commercial lots!
TRACT MAP(S)
Tracts 1+2
Tract 1
Tract 2
AREA MAP(S)
BIDDING PROCEDURE: The property will be offered via a Sealed Bid Auction with bidding procedures more specifically outlined in the Sealed Bid Packet. The final bids are subject to the Seller's acceptance or rejection.
BUYERS PREMIUM: The Purchase Price will be the Bid Amount plus a 4% Buyers Premium.
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.
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 cashier's 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.
DELIVERY OF TITLE: The property will be conveyed by Warranty Deed, subject to all easements and other Permitted Exceptions as defined in the purchase contract.
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 Buyer(s).
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.
SURVEY: A new survey will be obtained only in necessary to record the conveyance or if otherwise deemed appropriate in the Seller's sole discretion. If a new survey is obtained, the survey cost will be shared equally by Seller and Buyer.
TRACT MAPS; ACRES; DIMENSIONS: Tract maps, advertised acres and improvement dimensions are approximations based on existing tax parcel data, legal descriptions, architectural plans 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.
CONDUCT OF AUCTION: The conduct of the Sealed Bid Auction will be at the direction and discretion of the Auction Company, Seller and its agents reserve the right to preclude any person from bidding if there is any questions as to the person's identity, credentials, fitness, etc.
AGENCY: Schrader Real Estate and Auction Company, Inc. and their representatives are exclusive agents of the Seller.
DISCLAIMER AND ABSENCE OF WARRANTIES: ALL PROPERTY IS OFFERED "AS IS, WHERE IS". NO WARRANTY OR REPRESENTATION, STATED OR IMPLIED, IS MADE BY SELLER OR AUCTION COMPANY CONCERNING THE PROPERTY. 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 bidder's preauction due diligence. All marketing materials are subject to a prospective bidder's independent verification. Seller and Auction Company 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.
