WHAT IS A BUYER'S PREMIUM?
Posted on 10/06/2019
101: 2,300±SF Office Building on 0.5± Acres in Lithonia, GA (Dekalb County)
2523 Panola Road, Lithonia GA 30058
Bidding Opens: Wednesday, February 15 at 11:00 AM ET
Bid Deadline: Wednesday, February 22 at 11:00 AM ET
Inspection: Monday, February 20 at 11:00 AM ET
Sale Manager: Jeb Howell 770-841-9924 or Jeb@AMCbid.com
2,318±SF Single story masonry building constructed in 1965 on lot located on west side of Panola Road near corner of Dividend Drive. Per the tax plat and zoning map, lot is 100 feet wide by 225 feet deep. Legal description from title work indicates a larger parcel with greater width and depth (over 130 feet of frontage on Panola and over 230 deep of depth) and a lot size of 0.71 acres. Conveyance will be according to the legal description.
Zoned C-1 with conditions, Local Commercial District. Zoning Condition CZ-04-131**
Tax Parcel # 16 040 01 011
2016 DeKalb County Taxes $4,122.18
Per GDOT, 2015 annual average daily traffic counts on this part of Panola Road were 28,700.
**The property is zoned Commercial (per confirmation by Dekalb Co Zoning). It has a zoning restriction which limits the use to a Beauty Salon.The property was given this conditional zoning in approx 2004 (see document in our due diligence section). At that time the surrounding area was said to be residential. Today the surrounding area is largely commercial. The property would not need to be "rezoned" per se, but if an owner wants to use the property in a capacity other than a beauty salon, they would need to go through the process of having the condition removed.
Terms: Bank Proof of Funds Required to Bid, 10% Buyer’s Premium added to winning bid to determine sale price, EM Deposit of 20% of purchase price, close by March 22, 2017.
Please Note: All of the properties sell individually as "lots" however they are all tied together by the auction clock. We will set a bid deadline for all of the assets. Once we get within 5 minutes of that bid deadline, any bid placed on Any of the assets will extend All of the assets another 5 minutes. This extension will continue until no bids are placed on any of the assets in a five-minute window.
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AMC GAL#2503
