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Auction Terms, Conditions and General Information 9601 Shelbyville Rd.
Buyer’s Premium: A 10% buyer’s premium will be added to the high bid to determine the final contract selling price. Down Payment: Buyer shall make a down payment of $50,000. Down payments shall be made immediately following the auction and may be made by certified check or a good personal check. Closing: Closing shall occur on or before December 28, 2006. Inspections: Auctioneers will be on site. Sun. Nov. 5th and Wed., Nov. 8th from 2—4 PM and beginning at 12:30 PM on day of sale for pre-auction inspection. Other inspection times available by appointment. Conditions of Sale: The property is being sold in “as is” condition with no conditions or contingencies of any kind. All inspections are welcome but must be completed prior to auction and are not a condition of sale. Bidding Methods: On site bidding is encouraged. However, for those unable to attend the auction, absentee bids may be submitted by written authorization, telephone, or through our internet web site. Bidder validations and deposits may be required. See web site for details. Broker/Agent Participation Welcome: A Broker or agent whose client is the buyer of the real estate may be entitled to a broker participation fee. Agents must simply register their clients at least 12 hours prior to the auction. The agent/ client registration form may be obtained from the web site or by contacting the broker. (Click here to obtain registration form). Subject to sale prior to auction. Auctioneer reserves right to offer the properties individually or group and offer as a combined package. Terms announced day of sale take precedence over pre-published terms. The auction will take place at the 9707 Shelbyville Rd. property, which is adjacent to the east of this property.
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Matters of Interest
Age and Size: The building dates back to 1910—1915 when it was constructed as a personal residence. It was renovated in the mid-1970s for use as a restaurant and was actively used as a restaurant, under three different names and management, until 2005. The 88 parking spaces are located at the front and rear of the building.
Zoning: The property is currently zoned C-1 Commercial District. This zoning permits various commercial businesses including retail, service, restaurant, institutional, and office. For a detailed list of the types of uses allowed under C-1 zoning please click on the link below. Certain other uses may be permitted upon granting of a Conditional Use Permit. Click here to the see the various C-1 Zoning Regulations and specific provisions therein. When the page comes up go the section titled Chapter 2, click on part 4, and scroll down to C-1.
Environmental Assessment: A Phase 1 environmental site assessment was completed in September 2006. The conclusion of this assessment state “no evidence of recognized environmental conditions or significant environmental concerns in connection with the subject property suggest the need for additional investigation was discovered”. . Area Surroundings: The property is located approximately one-halve east of the prominent Shelbyville Road and Hurstbourne Lane intersection. It is in a mixed residential and business area. The businesses consist of professional offices, retail businesses, service businesses, and restaurants. According to KIPDA, the 2005 actual traffic count on section of Shelbyville Road from Hurstbourne Ln. to Blankenbaker Pkwy. was 33,600 vehicles per day. |