AUCTION DETAILS

Auction Details

Mason City, IA Commercial Real Estate

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Brief Description

This is your opportunity to purchase one, two or three commercial real estate properties in Mason City, IA. One property is 48' x 88' and improved with the former Wise Guys Sports Pub, and the other two properties are vacant lots ready for your use. 

Auction Schedule

Live On-Site Auction with Online Bidding

Began: 07/24/17 at 6:00 PM CDT

Location: 125 1st St SE, Mason City, IA 50401

Inspection

Began: 07/24/17 at 4:00 PM CDT

Location: 125 1st St SE, Mason City, IA 50401

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Details

This is your opportunity to purchase one, two or three commercial real estate properties in Mason City, IA. One property is 48' x 88' and improved with the former Wise Guys Sports Pub, and the other two properties are vacant lots ready for your use. 

Property questions should be directed to Paul McCartan, (515) 320-7600.

Real estate auction handled in conjunction with Collin M. Davison of Heiny, McManigal, Duffy, Stambaugh & Anderson, P.L.C., Mason City, Iowa

Parcel 1: Wise Guys Sports Pub (125 1st St SE, Mason City, IA - Parcel 071015600500)

This property is a 48' x 88' corner lot located just one block west of the central mall district that was most recently home to the Wise Guys Sports Pub. The building is a large building with 4,126 square feet on the main floor, approximately 2,000 square feet on the second level and an approximately 2,500 square foot basement. 

The main floor of the property has been extensively remodeled and is improved with a full bar, dining area, space for entertainment, and large updated kitchen area. The upper floor is improved with a second bar area, another entertainment area, and a private meeting room. Your patrons will enjoy the skylights and open floor plan with overlook to the lower level.

The facility only recently closed due to unexpected life circumstances by the owners.

Parcel 2: 54' x 65' paved vacant lot (Parcel 071015700900)

Parcel 3: 65' x 132' paved vacant lot (Parcel 071015700200)

Earnest Money: A sum in the amount of ten percent (10%) of the purchase price in the form of cash or check payable as a down payment, shall be deposited as earnest money by the high bidder paid in trust to Brown, Kinsey, Funkhouser, Lander, P.L.C., but to be returned to the Seller if the Buyer fails to perform pursuant to the Purchase Agreement. Therefore, the earnest money is non-refundable.
Buyer’s Premium: A ten percent (10%) buyer’s premium will be added to the high bid price to equal the contract price used in the purchase agreement. For example, a bid price of $100,000.00 would equal a contract price of $110,000.00 ($100,000 + $10,000). 
Brokers Participation Accepted: A broker co-op of 3% will be paid to properly registered brokers. Contact our office for full details.
Real Estate Taxes: will be prorated to closing.
Terms: Cash, due and payable at time of closing. The successful bidder will enter into a standard Iowa Purchase Agreement with an as-is addendum. It will be at the Auctioneer’s discretion as to the increments of bids and process to reach the top and final bid. Any financing (mortgage or otherwise), if necessary, should be made prior to the auction. The property is sold without contingencies in an AS IS condition. 
Closing: August 29, 2017.
Preview of the property is essential prior to the auction!
Reservations: Property is sold subject to easements of record, and sold subject to seller's confirmation of final bid price.

Gallery: Wise Guys photos

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Gallery: Vacant lot photos

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Map


Grafe Auction Company

http://www.grafeauction.com

1025 Industrial Dr. Spring Valley, MN 55975

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