2 Commercial Buildings in Downtown Foley MN
Lot #1
Item: 9233-2925719

Foley, MN

This Lot is:

Closed

Sun, Apr 25, 2021 8:15pm CDT

High Bidder: #369783

Current Bid:

$60,000.00

Next Required Bid: $60,250.00

Reserve Not Met

Shipping: No
Online Payment: Yes
Location / Contact:
351 Dewey Street, Foley, MN 56329
Phone: 612-910-5674

Lot Description:

RESERVE HAS BEEN LOWERED !!! THIS IS YOUR CHANCE TO GET A GREAT DEAL!


2 Commercial buildings that have been combined to make one large retail space, the buildings still have separate property identification numbers so a wall could be put up and the buildings could be rented or sold individually. Buildings combined are approximately 9,364 total square feet.

The building with the vintage Foley Drug sign faces Dewey Street and the building with the brick face front is facing 4th Street N (Main Street). Both buildings have a separate entrance and separate furnaces. The building facing 4th street which is the main road through downtown Foley has 3 doors on the front of the building, one door to enter the large retail space, one door to access the upper level which is currently used for storage, also a door which enters into what was a coffee shop but could also be used for a cafe/office/retail space.  Both buildings have a separate entrance to the unfinished upper level.

These buildings offer on street parking, frontage on 2 major streets, 4614 sq ft of finished retail space on the mail level, all shelving included, camera system and fixtures included. Building is approximately 9364 sq ft total.

There is only a 3% buyers premium on this Auction instead of the typical 13% buyer premium that is charged on other auctions.

Seller will cooperate with Real Estate Agents wanting to show the property and will agree to a 2.5% commission payout on a signed purchase agreement by both parties. 

The property comes with a clear title that has title insurance ran to ensure a clear title. There is a street assessment of $2087 on the property for street improvements. Annual property taxes for building 1 on Dewey Street is $1010 and building 2 on 4th street is $1832.

The Property is located in Benton County and the Property ID numbers are 130027500 for Building 1 and 130026800 for building 2.

Winning bidder will need to provide a $2500 non refundable cashiers check to Empire Wholesale for down payment and will have the remainder balance paid within 10 business days unless using financing to purchase the property, in that case there will be 35 days to pay the balance unless otherwise arranged between both parties.

Please contact Empire Wholesale for any questions 612-910-5674

Real Estate Agents or Brokers please contact Empire Wholesale LLC for showings 612-910-5674  There is a lock box on the property.

Inspection:

Sat, Apr 24, 2021
11:00 am - 01:00 pm

Auction Closing:

Sun, Apr 25, 2021
08:15 pm

Removal:

Tue, May 04, 2021
11:00 am - 01:00 pm

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

Hammer Price TierBuyer's PremiumCap
$0.00 - $4,999.99 13.00%
$5,000.00 - infinity 10.00%$1,000.00


This auction is contracted and managed by: Empire Wholesale

Manager: Tony Socher


Empire Wholesale and Anthony Socher are not responsible for any accidents or injuries that occur on the property at anytime and you are waiving your ability to take legal actions against Empire Wholesale llc or Anthony Socher by entering the property.

Winning bidder will need to provide a $2500 non refundable cashiers check for down payment and will have the remainder balance paid within 10 business days unless using financing to purchase the property, in that case there will be 30 days to pay the balance unless otherwise arranged between both parties.

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.

 


This auction is contracted and managed by an independent affiliate. By placing a bid on this auction, you are agreeing to the auction specific terms listed on this page in additions to the K-BID user terms and agreements.  

K-BID Online, Inc. (K-BID) is responsible for maintaining the K-BID.com website.  K-BID.com serves as the venue used by independent auction companies (Affiliates) to present their online auctions to bidders.  

K-BID’s role in the auctions listed on K-BID.com is limited to providing the venue for affiliate auctions. Affiliates are not employees, agents, representatives or partners of K-BID Online, Inc. K-BID’s knowledge about individual auctions and individual auction transactions is limited to the information appearing on the website.

By placing a bid on K-BID.com, bidders are verifying they are at least 18 years old and acknowledging they understand and will comply with both the K-BID.com website terms and the auction specific terms. Bidders MUST NOT share their password or account information with anyone. Bidders are responsible for bids placed on their account.

Inspection dates/times are available for every auction. Bidders are strongly encouraged to inspect prior to placing bids. Removal day is not inspection day. When an auction ends, and the winning bidder invoice appears on the bidder’s dashboard, the bidder is obligated to honor their bid(s).

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

Bidders are responsible for knowing and complying with auction terms. Failure to comply with removal terms may result in bidding privileges being disabled.  Once a bid is placed it cannot be retracted.

Sellers and their agents are prohibited from bidding on their own assets.

Items with a reserve will not be sold unless the reserve price has been met.

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

Applicable sales tax will be collected by the affiliate managing the auction.  

In the event that bidding rights are terminated due to no-show invoices, bidders MAY be reinstated at the discretion of K-BID only after a penalty fee of 20% of the unpaid invoice(s) and a reinstatement fee of $25.00 has been paid to K-BID and a scanned copy of your driver's license emailed to us. INVOICED ITEMS WILL NOT BE AWARDED. The payment is punitive and meant to deter no-shows. Duplicate bidder accounts will be deactivated when they are determined to exist. If possible and at our discretion, K-BID reserves the right to delete any bid we believe has been placed by a suspect bidder. Any registration that shows up on our fraud detection system may be placed on hold and bids removed until the user is verified. K-BID Online, Inc reserves the right to disallow anybody from bidding on its website. Cases of obvious bidding with no intent to redeem will be referred to appropriate legal authorities.

Affiliates may lower a lot reserve at any time before or after an auction closes.  If the reserve is lowered while the auction is in progress, the applicable reserve message will appear below the Next Required Bid information (Reserve Not Met or Reserve Has Been Met); the asset will sell to the high bidder if the lowered reserve amount is met. If the reserve is lowered after the auction closes, the highest bidder at auction close will receive a winning bidder invoice. 

Once an auction begins its closing process, outbid notifications will not be sent.

Once a bid is placed it cannot be retracted.

 



351 Dewey Street
Foley
MN, 56329


Phone: 612-910-5674

No shipping available for this auction.

Bid History

7 Bid(s)
Bidder Placed High Bid
369783
Apr 24 08:42pm
$60,000.00
67544
Apr 21 11:53am
$50,100.00
368878
Apr 17 09:39pm
$50,000.00
357829
Apr 14 02:40am
$20,000.00
348553
Apr 13 09:27pm
$4,100.00
192662
Apr 11 11:53pm
$4,000.00
348553
Apr 07 08:24pm
$2,500.00