WHAT IS A BUYER'S PREMIUM?
Posted on 10/06/2019
Selling As Part of Our Online Only Auction of 2 Historic Homes on 2.07± Acres at 240 & 260 N Jeff Davis Drive, Fayetteville, GA 30214 (Fayette County)
Selling Separately
Excellent Redevelopment Site
Bid Deadline: Tuesday May 14, at 11:00 AM
Inspection: Monday, May 13 at 12 Noon SHARP or By Appointment
Sale Manager: Larry Goff 678-296-3648 Larry@amcbid.com or Jeb Howell 770-841-9924 or Jeb@AMCbid.com
Lot 101: 240 North Jeff Davis Drive, Fayetteville, GA 30214
The 2,838±SF building at 240 North Jeff Davis Drive, like many of the structures on the street, was built at the turn of the last century. It features 12 foot ceilings and ornate finishes on the main level, a small ballroom, a parlor, and a commercial kitchen and preparation area with a walk-in cooler as a staging area for events. The attic is accessed by a narrow stairwell as well as a large dumbwaiter which drops down into the hallway of the main level.
The property has been extensively renovated in the past 10 years with modern appliances, HVAC system, kitchen and baths and was used with 260 North Jeff Davis Drive as an event facility until early 2023. All utilities are available to the site and it is zoned DMU-BC under the new Universal Development Ordinance adopted May 4, 2023 by the city of Fayetteville, which provides for a number of commercial uses including Event Facility. The lot has 160 feet of frontage and between 332 and 334 feet of depth.
The property was acquired by the bank through foreclosure on June 7, 2023. Current ordinances state that if the site has not been in use as an event facility for over a year, a conditional use application must be filed with Fayetteville Planning and Zoning to continue to use it as an event facility.
Fayette County Tax Parcel 052301054
2023 Fayette County Appraised Value $289,240; Assessed Value $115,696
2023 Fayette County Property Taxes $3,876.73 (paid)
Lot 201: 260 North Jeff Davis Drive, Fayetteville, GA 30214
The 2,267±SF building at 260 North Jeff Davis Drive was built ca.1920. Like 240 N Jeff Davis Drive, it has been extensively renovated with modern facilities in the past 10 years. It features 12 foot ceilings and ornate finishes on the main level, a luxuriously appointed bridal suite with an adjoining bathroom with a large jetted spa bathtub, as well as a room previously used for weddings, a full dining room, and an office on the main level. The upstairs, accessed by an ornate spiral staircase, includes an area with a beauty parlor on one side for the bride and attendants, and a game area with bar and sink for the groom and groomsmen.
The property was previously used with 240 North Jeff Davis Drive as an event facility until early 2023. All utilities are available to the site and it is zoned DMU-BC under the new Universal Development Ordinance adopted May 4, 2023 by the city of Fayetteville, which provides for a number of commercial uses including Event Facility. The lot has 112 feet of frontage and between 325 and 332 feet of depth.
The property was acquired by the bank through foreclosure on June 7, 2023. Current ordinances state that if the site has not been in use as an event facility for over a year, a conditional use application must be filed with Fayetteville Planning and Zoning to continue to use it as an event facility.
Fayette County Tax Parcel 052301053
2023 Fayette County Appraised Value $316,470; Assessed Value $126,696
2023 Fayette County Property Taxes $3,540.14 (paid)
The homes are accessed by three joining driveways entering from 240 & 260 N Jeff Davis as well as a side driveway from Carver Street, which bounds the north side of the property.
Both buildings are extensively furnished with vintage and reproduction Victorian furniture. The very deep back yards are decorated with a variety of wrought iron pieces and furniture, as well as a gazebo and a large three-peaked tent with tables and chairs to host sizable outdoor events. All outdoor items as well as indoor furniture will be sold following the real estate auction as posted to our website. If you purchase one or both homes, you will have the opportunity to bid on furniture or equipment/ accessories at the personal property auction.
Terms: Must register and submit proof of funds to bid, 10% Buyers Premium added to bid to determine Purchase Price, Earnest Money Deposit of 10% of Purchase Price within 24 hours of end of auction, sign as-is contract, 2% broker co-op, close in 30 days.
Julian E Howell, Auction Management Corporation GAL#2503
