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ONLINE AUCTION: APRIL 21
– FREESTANDING BUILDING SURROUNDED BY PARKING –
– ALONG STRONG RETAIL CORRIDOR –
–16,000+ VPD –
Property Summary
Bldg. Size: 7,534 SF
Lot Size:
1.73 AC
Year Built:
2001
Zoning:
HB – Highway Business
MSA:
Raleigh-Durham-Cary
Highlights: Fully-equipped old fashioned southern restaurant
that featured eastern NC barbecue, oyster bar, and
tiki bar located on Knightdale Blvd (Hwy-64) in
retail corridor near Research Triangle.
Ideal
Research Triangle building perfect for owneroperator, restaurateur, or investor/developer.
For more information, visit: HilcoRealEstate.com or
contact a member of the Hilco Transaction Team below:
Fernando Palacios
Direct: 504-233-0063
fpalacios@hilcoglobal.com
Timothy Brandon
Direct: 847-313-4793
tbrandon@hilcoglobal.com
RESEARCH TRIANGLE RETAIL CORRIDOR: 16,000-48,000 VPD
2016 Demographics
1-Mile
3-Mile
5-Mile
Est. Population
3,200
13,200
33,700
Knightdale is located less than ten minutes east of Raleigh
and
less
than
thirty
minutes
from
Raleigh-Durham
International Airport in Knightdale The property’s located
on a retail corridor which carries a traffic count range of
Est. Avg. HH Income
$73,600
$75,200
$72,700
Nearby Road
VPD
Knightdale Blvd (Hwy-64)
16,000 - 48,000
I-540
52,000
16,000-48,000 VPD.
The 7,534 square foot building was
formerly Knightdale Seafood and BBQ Restaurant and is in
turn-key condition with all FF&E included. The building is
situated on 1.73 acres and zoned Highway Business (HB).
The property offers immediate income-producing potential,
as well as endless reuse/redevelopment opportunities.
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In Cooperation with Hilco Industrial,SS
LLC NC Auctioneer Lic.
#7506 and Thomas Randy Ligon Company NC RL #183864
7,534 SF RESTAURANT BUILDING – 1.73 ACRES
706 MONEY COURT, KNIGHTDALE, NC 27545
TERMS OF SALE – ONLINE AUCTION
AUCTION DATE: APRIL 21, 2016 – ABSOLUTE AUCTION
AUCTION FORMAT: Bidding will be done ONLINE. To bid during the
auction,
you
need
to
register
online
at
http://auctions.hilcoreal.com/ and click on the View Auction link
then click on the green “Register” button located on the top left
hand side of the property page. Once registered, you will receive an
acknowledgement email. Login with your email and password, then
click on the “Documents” tab where you will find more detailed
instructions to be approved by the transaction team in order to bid.
Please call 847-504-2478 for further instructions.
AUCTION DATE/LOCATION: The auction will be conducted online.
The online auction will open at 10:00 a.m. and will close at 6:00 p.m.
EST on Thursday, April 21, 2016. You will need to be registered and
be approved to bid by our transaction team, which requires
accepting the Terms of Sale, accepting the Purchase and Sale
Agreement and depositing the required initial earnest money
deposit. Please call 847-504-2478 for further instructions.
CERTIFIED FUNDS OR WIRE TRANSFERRED FUNDS ARE REQUIRED:
Certified funds in the amount of $10,000, as an initial down payment
are required to bid at the auction. Online bidders are required to
mail, overnight or wire transfer funds to Hilco Real Estate Attn:
Steve Madura, 5 Revere Drive Suite 320, Northbrook, IL 60062, initial
deposit cashiers checks or wire transfers for online bidders must be
received no later than 2:00 p.m. CST Wednesday, April 20, 2016. For
wiring
instructions,
please
email
Steve
Madura
at
smadura@hilcoglobal.com
or
download
them
from
the
“Documents” tab after you have registered online. Upon the
conclusion of bidding and the Seller’s acceptance of the Purchase
and Sale Agreement, the funds will be deposited as earnest money
as provided in the Purchase and Sale Agreement. If you are not the
winning bidder your funds will be returned to you.
ASSETS AVAILABLE: The Property to be sold includes all or
substantially all real property, fixtures, and the improvements
thereon at 706 Money Court, Knightdale, NC 27545 (collectively, the
“Assets”). The Property is being sold for all-cash in its existing as-is,
where-is condition and subject to no contingencies including
financing.
BUYER'S PREMIUM: The successful high bidder shall pay a Buyer‘s
Premium equal to 10% of the high bid price. This amount shall be
added to the High Bid and the sum will be the Total Purchase Price
in the Purchase and Sale Agreement.
AUCTION PROCEDURE
ABSOLUTE OFFERING: The property is being offered absolute,
without reserve. The final high bid on the property which is offered
in the auctioneers marketing material and in the Purchase and Sale
Agreement, or designated by the Auctioneer as absolute, without
reserve, will be accepted at the time and place of the auction.
ATTORNEY REVIEW: All information contained in the auction-related
marketing material, should be carefully reviewed by an attorney
prior to the auction.
Property, or to remove the Property from the auction. If any
disputes should arise following the auction, the Auctioneer's records
shall be conclusive in all respects.
INSPECTION: The Property is being offered for sale in its existing
condition subject to the terms of the Purchase and Sale Agreement.
The Purchaser may not rely upon any disclosures, representations or
warranties other than those provided in the Purchase and Sale
Agreement. We recommend you thoroughly inspect the Property
prior to the auction. Those inspecting the Property assume all risk
associated with any inspection.
INSPECTION DATE:
THURSDAY, APRIL 14 11:00 AM to 3:00 PM
Call Hilco at 855-755-2300 for tour information.
DOCUMENTS AVAILABLE: Due Diligence documents are available
online under the “Documents” tab once you have properly
registered at http://auctions.hilcoreal.com/ and includes the
Purchase and Sale Agreement, detailed Property information, copies
of the real estate tax bill, and other applicable information. Seller,
Seller’s Broker and Auctioneer shall not be liable for any inaccuracy
contained in any reports furnished to buyers originating from third
party experts.
REQUIREMENTS OF THE SUCCESSFUL HIGH BIDDER: The successful
high bidder will be required to sign the Purchase and Sale
Agreement upon the conclusion of bidding, acknowledging the
purchase, and their $10,000 initial down payment will become nonrefundable. The initial down payment MUST be increased to 10% of
the purchase price by cashiers, certified check or wire transfer
within three (3) business days following Sellers acceptance. All
registering bidders may also be asked to sign a statement that the
bidder has inspected the Property and reviewed documents related
to the Property and the Auction.
CLOSING DATE: The Standard Closing Date shall be on or before 30days from Seller’s Acceptance.
AGENCY DISCLOSURE: Hilco Real Estate, LLC NCAL7506, in
cooperation with Thomas Randy Ligon Company North Carolina
Broker Lic. #NCRL183864 and all licensees employed by or
associated with Hilco Real Estate, LLC who are involved with this
auction; represent the Seller in this real estate transaction. For
additional Terms of Sale, see the Purchase and Sale Agreement. The
Seller, Auctioneer and their agents assume no liability for
inaccuracies, errors or omissions in the auction marketing materials.
ALL SQUARE FOOTAGE, DIMENSIONS, COMMON AREA CHARGES
(IF, ANY), FINANCIAL INFORMATION AND TAXES IN THIS AND
OTHER MARKETING MATERIALS ARE APPROXIMATE. This offering
may be withdrawn, modified or canceled without notice at any
time.
In Cooperation with Hilco Industrial, LLC NC Auctioneer Lic. #7506
and Thomas Randy Ligon Company NC RL #183864
CONDUCT OF THE AUCTION: Conduct of the auction and increments
of bidding are at the direction and discretion of the Auctioneer. In
the event of a dispute between bidders, the Auctioneer shall make
the final decision to accept the final bid, to re-offer and resell the
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