Corporate Surplus - Leased Entertainment Site/Dev. Opportunity
Online Bidding Closes: Thursday, September 29, 2022 4:00Pm Et (3:00Pm Ct)
Property Preview Date and Time: Drive by Anytime
Property Location: 10735 East 40 Highway, Independence, Missouri 64055
Property Description: Located near Kauffman Stadium, home of the Kansas City Royals, and Arrowhead Stadium, home of the Kansas City Chiefs, in addition to numerous other local attractions, there is no shortage of traffic in the area to generate business for this long term tenant - currently paying $81,000 annually, Nnn. Currently operating as a family entertainment venue, this venue offers miniature golf, go-karts, video arcade, batting cages, and children's climbing and playground area. This is a great opportunity to buy and evaluate redevelopment possibilities while maintaining a positive cash flow.
• Annual Income: $81,000 - No Landlord Responsibilities
• +/-12.95 Acres
• Parcels with Highway 40 Frontage Located in The City of Independence - Balance of Property in City of Kansas City
• City of Independence Zoning: C-2 (General Commercial)/City of Kansas City Zoning: Mix of R-2.5, R-7.5, B1-1, B3-2
• Zoned C-2 (General Commercial)
• Wide Variety of Allowable Uses: Medical Facilities, Hospitality/Lodging, Retail and More
• Subject Site Located Adjacent to I-70
• Highway 40 Traffic Count: +/-14.500 Vpd
• Just Minutes from I-70 (Dtc: 124,518) and I-435 (Dtc: 99,485) Interchange
2021 Assessed Value: $537,854.00
2021 Market Value: $1,700,294.00
2021 Annual Taxes: $42,692.53
Note to Buyers: Closing will be handled by Fidelity National Title's National Commercial Services Division in Phoenix, AZ with Seller paying for Buyer's title insurance. Closings are normally done remotely.
Cooperating Broker's Fee: 2% of the high bid will be paid to a properly registered broker at settlement.
Summary of Terms of Sale: All property sold in “as-is and where-is” condition. A 10% buyer's premium will be added to the high bid to determine the contract price. High bidder is required to execute a Contract for Sale and Purchase of Real Estate and remit to Tranzon by close of business the day of the auction. A 10% deposit is due within 24 hours of being notified that you are the successful high bidder. Balance of contract price is due at closing within 40 days. Seller will provide special warranty deed at closing. Please see Contract for Sale of Real Estate and Terms & Conditions in this package for all sale terms.
Jordan Conlee, Cai, Aare
Tranzon Asset Advisors, Edward Durnil, MO Auctioneer 844, Vance Luksetich, MO RE Broker