WHAT IS A BUYER'S PREMIUM?
Posted on 10/06/2019
Online Only Auction of 17,800±SF Retail & Commercial Buildings on 4± Acres in Conover, NC (Catawba County)
1124 NC Highway 16 North, Conover, NC 28613
Bidding Opens: Wednesday, May 17 at 11:00 AM ET
Bid Deadline: Wednesday, May 24 at 11:00 AM ET
Inspection: Monday, May 15 & 22 at 11:00 AM ET SHARP
Sale Manager: Jeb Howell 770-841-9924 or Jeb@AMCbid.com
Click HERE to Register & Bid Now!
The secured creditor and the seller have come to an agreement whereby the secured creditor will accept a payoff of a fraction of the loan balance. A winning bid of $350,000 or above will be automatically accepted. This is your chance to obtain a well located commercial property for the price you pay at public auction!
The improvements consist of a retail showroom visible at street level, with a repair/ office area below it, and a warehouse area and small storage building to the rear, on a 4± acre lot which slopes gently from the Highway 16 North frontage down toward the I-40 Right of Way behind the site.
The most visible building is the attractive retail area, with almost 7,000±SF facing Highway 16 North, built and expanded/ renovated several times beginning in the 1960s. There are several distinct retail showrooms on the main level, plus a conference room, a small theatre, and 3 restrooms. The area below it, connected by an interior stairwell, consists of over 4,600±SF divided into several office/ storage areas, restrooms, and doors facing onto a large paved parking/ truck turnaround area behind and downgrade of the street retail frontage. Total square footage of the front building is about 11,600±SF.
Behind the main building and connected by an open breezeway are two adjoining concrete block warehouse buildings with concrete floors under a common roof which are offset such that the upgrade level nearest the street is about two feet higher than the downgrade level. The upgrade level is accessed by three drive-in rollup doors, each of which is 9’ wide and 8 feet tall. This level is 40 feet deep, 60’+- wide and has about 9 feet of clearance, with a couple of demised workshop rooms and a bathroom. The lower warehouse level, accessed by an 8’ x 8’ dock high rollup door accessed from the parking lot to the rear of the main building, is 50’+- wide, 64’+- deep. and has 12’ of clearance. Total space of the warehouse is about 5600+- sf.
At the rear of the lower parking lot is a 21’+- x 30’+- (630±SF) storage shed, with a 13’ wide x 8’ tall door, and between 8’ and 10’ of clearance.
There are 3 curb cuts along the 232 feet of frontage on NC Highway 16 North. The subject’s site improvements include an asphalt paved parking area with 30± marked spaces at the front and side of the building and additional unmarked parking areas at the rear of the building. The paved parking areas and improvements occupy a bit less than half of the total 615 foot depth of the site. The rest of the site is wooded and slopes toward the I-40 Right of Way to the rear. The site is connected to public water, sewer, natural gas, electricity, and telephone service. A 30 foot right of way or easement runs along the eastern edge of the site and provides access to a house behind the property.
The property is within a few hundred yards of a Wal-Mart Supercenter across NC 16 North, and I-40 Exit 132. Highway 16 North, also known as 1st Avenue North, leads directly into downtown Conover, and is located in the Hickory-Lenoir-Morganton MSA in western North Carolina. This MSA has undergone a transformation in the past few years, as Apple, Google, Facebook and other corporations have recognized the desirability of the area for data centers. Also, Conover is less than 50 minutes from the Charlotte Douglas International Airport, which makes it attractive to more national and international businesses.
Zoned CC Commercial Corridor District by City of Conover
Tax Parcel# 3742-10-35-4189
2016 Estimated Catawba County Tax Value $644,900; 2016 taxes $6,739.21,
Per NCDOT, 2015 annual average daily traffic counts on this part of Highway 16 North were 10,000
A Feb 2, 2017 Phase 1 Environmental Site Assessment revealed no RECs in connection with the site. This report is available by downloading and submitting the Confidentiality Agreement posted to our website.
AMC NCAL#7403
