ORMSBY MN COMMERCIAL BUILDING REAL ESTATE AUCTION LOW RESERVE!!
Lot #1
Item: 4f87-1484265

Saint James, MN

This Lot is:

Closed

Sun, Jun 25, 2017 8:00pm CDT

High Bidder: #263246

Current Bid:

$10,000.00

Next Required Bid: $10,100.00

Reserve Reached!

Location / Contact:
508 Main Street, Saint James, MN 56162
Phone: 612-910-5674

Lot Description:

Huge Commercial Building approximately 11,000 finished square feet. This building was formally Yvette's Supper Club and also a former reception hall called The Town Hall, With a HUGE dance floor and bar located in the lower level of the building and a huge area on the upper level featuring a former kitchen area, office and large open area, this space could be used for so many things such as a bar, restaurant, office, warehouse or really anything your imagination can come up with. The building has a small leak around a vent on the roof which has caused some water damage in an area of the upper level but could be fixed with some sheetrock and vent repair, The roof is asphalt shingles and in good condition, The outer walls are constructed of cement block for long lasting strength. This property has numerous new plumbing supplies and has 2 new furnaces hooked up and a large commercial AC unit located inside of the building.

Ormsby is located 14 minutes South of St. James MN off of Highway 60 and only 16 minutes North of Interstate 90 which makes this a very convenient location for any business and great access from two major freeways.

There is only a 5% buyers fee instead of the typical 10% fee on this Auction.

This building was a former foreclosure so the water and electric are not currently active at this property.

This building is owned Free and Clear and has no liens or assessments and will sell with a very low reserve.

2017 Property Taxes are $1222


Buyer of this Home must be paid in full within 5 days of Auction close.

5% Buyers Premium will be added to winning bid. Ex: $30,000 winning bid will pay a $1500 buyers premium.

Winning bidder will receive a notarized quit claim deed to the property when paid in full.

This Auction has A low reserve below tax value!

Property is sold As Is/Where is.

Empire Wholesale and Anthony Socher are not responsible for an injuries that may occur on the property at any time.

 

Inspection

Auction Closing:

Sun, Jun 25, 2017
08:00 pm

Removal:


Bidding Increments:

Bid Range Minimum Increment
$0.01 - $75.00 $1.00
$75.01 - $150.00 $5.00
$150.01 - $250.00 $10.00
$250.01 - $500.00 $25.00
$500.01 - $1,000.00 $50.00
$1,000.01 - $5,000.00 $75.00
$5,000.01 - $50,000.00 $100.00
$50,000.01 - $75,000.00 $250.00
$75,000.01 - $100,000.00 $500.00
$100,000.01 - $2,500,000.00 $1,000.00

Buyer's Premium
5.00%


This auction is contracted and managed by: Empire Wholesale

Manager: Tony Socher


This auction is contracted and managed by Empire Wholesale.

This affiliate accepts Cash, Credit card up to $5000, Cashier's Check.

By placing a bid on this auction you are agreeing to the auction specific terms listed below in addition to K-BID user terms.  For auctions contracted and managed by an Independent Affiliate, K-BID Online, Inc. is acting as a venue only and will not be involved in any disputes or issues regarding this auction.

Everything is sold “as is, where is” with no guarantees or warranties. You are responsible for inspecting items prior to purchase.

There is a 13% BUYERS PREMIUM (13% BP) on this auction. All NON-Credit/Debit Card payments MADE IN-FULL (invoiced amount) will receive a 3% Reduction in BUYERS PREMIUM (10% BP).

Applicable Minnesota Sales Tax will be collected.

At the close of the auction active items will remain open until no bids have been received for three minutes.

IMPORTANT NOTE: If the high bidder of an item does NOT acknowledge the purchase, K-BID systems reserves the right to determine how and to whom it will be resold. If we determine that the winning bid was not a bona fide bidder, the item WILL NOT AUTOMATICALLY go to the next second-highest bid.


Auction Terms Addendum

This auction is contracted and managed by an independent auctioneer. By placing a bid, you agree to both the auction-specific terms listed on this page and the K-BID User Terms and Agreements.

Platform Role
K-BID Online, Inc. (“K-BID”) operates and maintains K-BID.com as a venue for independent auction companies to conduct online auctions.
They are independent entities and are not employees, agents, or representatives of K-BID. K-BID’s knowledge of individual auctions is limited to the information provided on the website.

Bidder Responsibilities
By placing a bid, you confirm that you are at least 18 years old and agree to comply with all applicable terms.

  • Bidders are responsible for all activity under their account.
  • Account information and passwords must not be shared.
  • All bids are binding and may not be retracted.

Inspection & Removal
Inspection dates and times are provided for every auction. Bidders are strongly encouraged to inspect items prior to bidding.
Removal day is not an inspection day.
Once an auction closes and an invoice is issued, the winning bidder is obligated to complete the purchase.

Item Condition
All items are sold “as is, where is,” with no guarantees or warranties. Buyers are responsible for their own due diligence.

Buyer’s Premium
If applicable, Buyer’s Premium caps are applied per item, not per invoice.

Auction Process

  • Items with a reserve will not sell unless the reserve price is met.
  • Reserves may be lowered at any time at the independent auction company's discretion:
    • During the auction: updated reserve status will be displayed.
    • After closing: the highest bidder may be awarded the item if the reserve is lowered.
  • At closing, items with active bidding will remain open until no bids are received for three (3) minutes.
  • Outbid notifications are not sent once an item enters the closing process.

Compliance & Enforcement
Failure to comply with auction terms, including removal requirements, may result in suspension of bidding privileges.

If bidding privileges are suspended due to unpaid invoices:

  • Reinstatement is at K-BID’s discretion
  • Requires payment of:
    • 20% penalty on unpaid invoice(s)
    • $25 reinstatement fee
  • A valid government-issued ID must be provided
  • Unpaid items will not be awarded

Duplicate accounts will be deactivated. Suspected fraudulent activity may result in bid removal, account holds, or permanent suspension. K-BID reserves the right to refuse service to any user and may refer fraudulent behavior to appropriate authorities.

Seller Conduct
Sellers and their agents are strictly prohibited from bidding on their own items.

Sales Tax
Applicable sales tax will be collected by the independent auction company managing the auction.



508 Main Street
Saint James
MN, 56162


Phone: 612-910-5674

No shipping available for this auction.

Bid History

35 Bid(s)
Bidder Placed High Bid
263246
Jun 25 08:04pm
$10,000.00
220080
Jun 25 08:01pm
$9,400.00
263246
Jun 25 07:59pm
$9,300.00
145370
Jun 25 07:58pm
$9,000.00
263246
Jun 25 07:57pm
$8,900.00
220080
Jun 25 07:57pm
$8,500.00
263246
Jun 25 07:56pm
$8,400.00
220080
Jun 25 07:55pm
$7,300.00
263246
Jun 25 07:53pm
$7,200.00
220080
Jun 25 06:43pm
$6,700.00
221426
Jun 25 04:17pm
$6,600.00
220080
Jun 25 11:44am
$6,500.00
221426
Jun 25 11:08am
$6,200.00
263246
Jun 25 09:51am
$6,100.00
220080
Jun 25 09:37am
$6,000.00
221426
Jun 25 02:17am
$5,900.00
220080
Jun 24 10:08am
$5,800.00
221426
Jun 23 04:29am
$5,600.00
220080
Jun 22 09:25pm
$5,500.00
210569
Jun 21 10:40pm
$5,400.00
220080
Jun 20 04:06pm
$5,200.00
221426
Jun 19 04:48am
$5,000.00
220080
Jun 18 08:47pm
$4,700.00
210569
Jun 16 05:48pm
$4,500.00
220080
Jun 14 08:32pm
$4,000.00
221426
Jun 13 12:46pm
$3,500.00
210569
Jun 11 06:54pm
$3,000.00
221426
Jun 11 04:10pm
$2,400.00
263246
Jun 11 03:36am
$2,300.00
221426
Jun 10 08:38pm
$2,200.00
263246
Jun 10 08:45am
$2,100.00
210569
Jun 08 10:12pm
$2,000.00
202465
Jun 08 10:09pm
$1,500.00
210569
Jun 07 11:58pm
$500.00
118021
Jun 07 07:20pm
$5.00