Hwy 100 & 230 - Corner Market - 2 Houses - 72 acres

Hudgins Auctions

 

Date(s) 4/18/2019 - 6/20/2019

Past Auction
Online-Only Auction
Bidding Notice:

Bid-Extension set for 1 Minute for this auction. Lots are set to close 5 minutes apart.

Auction Information
Name Hwy 100 & 230 - Corner Market - 2 Houses - 72 acres
Auctioneer
Type Online-Only Auction
Date(s) 4/18/2019 - 6/20/2019
Location
Buyer Premium 10% of the Bid Amount will be added
Description
W.D. Turner Estate - 72 acres offered in Multiple Tracts [16 Lots] Commercial / Residential / Farm Land / Development Opportunity This estate property has been in the Turner family for over 75 years! FIRST TIME AVAILABLE FOR PURCHASE IN 75+ YEARS OPEN HOUSE - SUNDAY, June 2nd - 1pm Located at the intersection of Hwy 230 (Little Lot Road) and Hwy 100 in Lyles, TN (Hickman County), this premium property has been the desire of many developers, investors and hopeful land owners for decades. Now this is the rare opportunity to bid on and purchase some of Hickman County's best property. 72 acres offered in multiple tracts and combinations of tracts. COMMERCIAL - The "Corner Market" located at Hwy 100 & Hwy 230 was built in 1960 and has served the area as the local market for almost half a century. Opportunity for a new owner / operator to purchase this 1,324 building on 1.1 acre lot. We are also offering an additional 3.4 +/- acres that adjoin this lot for the individual that has a vision of something larger and greater for their investment plans. RESIDENTIAL #1 - The Turner home place was built in 1950 and features a house of 1,440 square feet. We are estimating the acreage on this corner to be approximately 5 acres. The house is ready for the new owner to remodel / renovate into their dream home. OR...this premium corner can be considered for a commercial use. There are other commercial properties near this location, including a new Dollar General retail store. RESIDENTIAL #2 - Manufactured House (1997 model) featuring 1,344 square feet. This house is in need of much repair. The lot will be 1 acre in size with approximately 195' road frontage on Hwy 230. DEVELOPMENT LAND - Premium Frontage... 2,129' of Highway 100 road frontage, the 30 acres located on the north side of Hwy 100, across from the Corner Market has been the dream of many seeking a scenic location for their dream home / dream barn / highway-fronting business / etc. We are offering this parcel in four smaller tracts, combinations as well as a whole (30 acres per deed). [Lots 3, 4, 5, 6, 7, 8 & 9] Explained below. DEVELOPMENT LAND / FARM / RESIDENTIAL - There are approximately 37.6 acres located behind the Corner Market with frontage on both Hwy 100 and Hwy 230. We are offering this parcel of land in seven different "Lots". There is a 1997 model doublewide featuring 1,344 square feet on a 1 acre lot. This will be Lot #10 on the catalog. Here are the properties offered in bidding Lots (Catalog) with explanation and description for each Lot. Lot # 1 - This is the corner market. Commercial. This is an existing parcel featuring 1.1 acres on the corner of Hwy 100 & Hwy 230. Measurements: 469' on Hwy 100, 246' on Hwy 230, 578' on the rear boundary. If you are interested in this parcel AND dream of your business having additional acreage behind for expansion plans, parking, etc, LOOK at Lot # 11. Lot # 2 - This is the corner on Hwy 100, Hwy 230 and bound to the rear by Dotson Lane. This corner parcel has potential for Commercial, but is currently residential with the Turner home place, built in 1950 featuring a house of 1,440 square feet. This size of this tract is estimated at 5 acres. Lot # 3 - 8.5 acres - a tract of the 30 acres located on the north side of Hwy 100 featuring 8.5 acres, located directly across from the Corner Market. Estimated 450' of frontage on Hwy 100. Lot # 4 - 6.5 acres - a tract of the 30 acres located immediately to the EAST of Lot # 3. The western corner of this tract is the existing drive across from Hwy 230. Estimated 690' of frontage on Hwy 100. Lot # 5 - 13 acres - a tract of the 30 acres located immediately to the WEST of Lot # 3. This tract is located across from Dollar General and features approximately 990' of frontage on Hwy 100. Lot # 6 - 15 acres - Combination of Lot #3 & Lot #4 - This tract will provide approximately 1,100' of frontage on Hwy 100. Lot # 7 - 21.5 acres - Combination of Lot #3 & #5 - This tract will provide approximately 1,440' of frontage on Hwy 100 with very nice, level areas for building. This lot of 21.5 acres features excellent road frontage! Lot # 8 - 28 acres - This offering is the combination of all three lots: Lot #3, #4 & #5 - all 30 acres (28 acres calculated). Lot # 9 - This is currently a "Non-Biddable Lot" - Nothing Assigned to this Lot #9 at this time. Lot # 10 - This is the manufactured house and 1 acre. We are estimating the road frontage to be approximately 190' on Hwy 230. Lot # 11 - This offering is 5.5 acres located directly behind the corner market with an estimated 190' road frontage on Hwy 230. This is a beautiful and scenic parcel of property in a premium location. This is the ideal size for your next home. This tract can also be considered as additional acreage for the buyer of the Corner Market parcel. Lot # 12 - 13.5 acres - This tract is located beside and behind the manufactured house. We estimate the road frontage to be 150' on Hwy 230. This parcel features a beautiful pond. The newly created parcel will feature open pasture and woods, almost equal acreage for each. Lot # 13 - 18 acres - This offering is the other "half" of the acreage - 18 acres. This parcel features an estimated 470' on Hwy 100 and runs 1,173' from the highway to the rear boundary. There is open pasture located to the front of this parcel with woods to the rear. Lot # 14 - 6.5 acres - This offering is the combination of Lot #10 & #11, both lots offered as one tract. This will give you the opportunity to have a total of 6.5+/- acres with the manufactured house. Total road frontage for this Lot estimated to be 380' on Hwy 230. Lot # 15 - 20 acres - This offering is the combination of Lot #10, #11 & #12 providing you the opportunity to bid on a total of 20 acres +/- with the manufactured house. Lot # 16 - 38 acres - This offering presents ALL the acreage, including the manufactured house, located on Hwy 230 (west side). We estimate the acreage to be 38 acres. This parcel will have frontage on both Hwy 100 and Hwy 230.
PROCEDURE: The property will be offered in multiple parcels [Multi-Par format], in combinations & as a whole. 16 (sixteen) total lots - See Catalog of Lots DOWN PAYMENT: A 10% down payment of the total contract purchase price will be due immediately after being declared the buyer. The down payment may be paid in the form of personal check, business check, or cashier's check. The balance of the contract purchase price is due in cash at closing within 30 days. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING. ACCEPTANCE OF BID PRICES: The successful bidder will sign a purchase agreement immediately following the close of online bidding. BUYER'S PREMIUM: A Ten percent (10%) Buyer's Premium will be added to the final bid price to arrive at the total contract purchase price paid by the Buyer. CLOSING: Closing shall take place 30 days after the contract has been fully executed, or as soon thereafter as applicable closing documents are completed. POSSESSION: Possession will be given at closing - Date of Deed. TITLE: Seller shall execute a proper deed (General Warranty Deed) conveying the real estate to the buyer(s). Property will be conveyed with good, clear title. Buyer has the option to purchase TITLE INSURANCE. REAL ESTATE TAXES AND ASSESSMENTS: The current year taxes on said Property shall be prorated to the date of closing. EASEMENTS: Sale of said property is subject to any and all easements of record. SURVEY: If a complete parcel sells as a WHOLE (not in tracts), there is no need for a new survey and the parcel will sell and transfer per the existing deed. If a parcel sells in tracts, a new survey will be required. The new survey costs will be split equally between Seller & Buyers (at a maximum total cost of $100 per acre, $50 per seller & buyer. PURCHASE AMOUNT PER SURVEYED ACRE: Bidders are bidding on each parcel per the acreage amount stated. Bid per tract, not per acre. Once the final survey is completed (if required), the total purchase amount will be adjusted to the exact acreage totals. Example: Auction Tract is 10 acres, but final survey reveals a total of 9 acres. Buyer will pay for the 9 acres based on their recalculated bid amount. AGENCY: Hudgins Auctions and its representatives are Exclusive Agents of the Seller. ZONING: Currently, the property (most) is FARM, RESIDENTIAL / Agriculture use. Lot # 1 - Corner Market is zoned commercial. UTILITIES: Public Water, Gas & Electricity are available. AT&T has confirmed high-speed Internet service available to this location. DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this website listing and all related materials are subject to the terms and conditions outlined in the agreement to purchase. The auctioneer may UPDATE these Terms prior to the auction end date and time. Any changes will be made known to all registered bidders. The property is being sold on an "AS IS, WHERE IS" basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or the auction company. Each registered bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this listing is believed to be accurate but 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. All acreages are approximate and have been estimated based on either the current survey, deed of record or property assessor's report.
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 2,000,000.00 1,000.00 USD
2,000,000.01 - 9,999,999.99 10,000.00 USD
Currency USD
Buyer Premium 10% of the Bid Amount will be added
Notice: Financing terms available may vary depending on applicant and/or guarantor credit profile(s) and additional approval conditions. Assets aged 10-15 years or more may require increased finance charges. Financing approval may require pledge of collateral as security. Applicant credit profile including FICO is used for credit review. Commercial financing provided or arranged by Express Tech-Financing, LLC pursuant to California Finance Lender License #60DBO54873. Consumer financing arranged by Express Tech-Financing, LLC pursuant to California Finance Lender License #60DBO54873 and state licenses listed at the this link. Consumer financing not available for consumers residing in Alaska, Louisiana, Nevada, Ohio, Vermont, Hawaii, or Wisconsin. Additional state restrictions may apply. Equal opportunity lender.