4 ACRES, 3 BLDGS – PRIME SITE

Auction by: Maltz Auctions

Live Off-Site Auction

Began: Thursday, October 11, 2018 at 11:00 AM EDT

Location: Maltz Auction Gallery, 39 Windsor Place, Central Islip, NY 11722

Details

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Immediate Sale Directed via Public Auction

24,000+ Sq Ft Multi-Use Buildings on 4 Acres

400′ Frontage on Route 112 – Prime Redevelopment or Occupancy Opportunity

AUCTION CANCELLED – PRE-AUCTION OFFER ACCEPTED

Details:

  • 3120-3130 Route 112, Medford, NY 11763
  • Daily Traffic Count of 22,000+ Vehicles Per Day
  • .6 Miles to Horseblock Road
  • .9 Miles to I-495 (Long Island Expressway)
  • 1 Tax Lot from New Tractor Supply Store
  • Notable Area Retail Includes: 7-Eleven, Bank of America, Family Dollar, Lowes, Michaels, Petland, Sam’s Club, Speedway, Starbucks Subway, Suffolk County National Bank, Target, Walgreens & Others
  • Property Improvements Include:
  •   18,800 Sq Ft Retail/Warehouse Masonry Building
  •   4,000 Sq Ft Retail/Warehouse Masonry Building
  •   1,400 Sq Ft Building (C of O States Retail Sales & Offices)
  • 3120 Route 112, Retail/Warehouse – 18,800 Sq Ft: 
  •   Main Showroom Area
  •   Reception Area
  •   Two Offices
  •   Storage Space
  •   Shop Area with 3-Phase Electrical 
  •   Two 14′ Overhead Doors
  •   16′ Ceilings Throughout
  •   Five Electric Meters
  •   One Gas Meter
  •   4-Zone HVAC
  •   Three Ceiling Mounted Gas Space Heaters
  •   Fuel: Gas
  • Rear Warehouse/Office (Two Stories):
  •   First Floor Warehouse:
  •     Two 8′ Drive-Through Overhead Doors
  •     10′ Ceilings
  •   Second Floor Office:
  •     Executive Office with Half Bath
  •     Open Office Area with Half Bath
  • 3130 Route 112, Retail/Warehouse & House/Office – 5,400 Sq Ft:
  • Retail/Warehouse:
  •   Storefront
  •   Storage Space
  •   Two Half Baths
  •   Utility Room 
  •   Two 8′ Overhead Doors
  •   Two Electric Meters
  • House/Office:
  •   Two Living Units
  •   First Floor: 5 Bedrooms & 2.5 Baths
  •   Second Floor: 1 Bedroom & 1 Bath
  •   Full & Unfinished Basement
  •   Three Electric Meters
  •   C of O States Retail Sales & Offices
  • Additional Information:
  • Route 112 is Being Widened to Accommodate Demand – Contract Awarded & Construction Anticipated to Commence Very Shortly! (Town Acquiring Appx 4′ Along Route 112)
  • Section: 631  Block: 1;  Lots: 19, 20 & 21
  • 3 Acres Zoned: LI – Light Industrial; Property Class: Large Retails Outlets & One Story Small Structure
  • 1 Acre Zoned: A1 – Residence; Property Class: Parking Lot 
  • Annual Real Estate Taxes: $64,264.74
  • The Successful Bidder shall have the Opportunity to Conduct Phase I and II Environmental Reports.  In the Event Contamination Required by Law is Discovered, the Cost of Said Remediation Shall be Partially Deducted from the Purchase Price (Download Terms & Conditions of Sale for Details) 
  • $2,250,000 Opening Bid

 

Viewings:  Wednesdays, September 26th & October 3rd from 11:00 am – 1:00 pm. 

Auction Date & Time:  Pre-Auction Offer Accepted.

Auction Location:  Auctioneer’s Gallery, 39 Windsor Place, Islandia, NY 11722.  Online & absentee bidding available with registration at least 48 business hours prior to the auction, please call for details. 

Terms & Conditions of Sale: Property will be sold free & clear of all monetary liens. In order to qualify to bid, in addition to other requirements, all prospective bidders must present a cashier’s check in the amount of $225,000 made payable to Maltz Auctions”.  Within 48 hours following the auction, Successful Bidder must post a deposit in the total amount of 17% of the high bid.  Subject to sale prior to auction as pre-auction offers will be considered.  Please download the complete Terms & Conditions of Sale. 

Buyer’s Premium: A seven percent (7%) Buyer’s Premium will be added to the Successful Bidder’s high bid to determine the contract price to be paid by the Successful Bidder.

Buyer Broker Participation: Up to a two (2%) percent commission will be paid to any properly licensed Buyer Broker who registers a successful buyer in accordance with the Buyer Broker guidelines.  Please download the Broker Participation form for details.

Seller Financing:  Seller shall offer a secured first mortgage to any successful bidder on the property under the following general outline of terms: 66.66% Minimum Down Payment (Plus Buyer’s Premium), 7% Annual Interest Rate, Monthly Interest-Only Payments, 4-Year Term & Personal Guarantee. 

 

Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
 Richard B. Maltz, Licensed Real Estate Broker

The Real Property is being sold “AS IS” “WHERE IS”“WITH ALL FAULTS”, without any representations, covenants, guarantees or warranties of any kind or nature, and free and clear of any liens, claims, or encumbrances of whatever kind or nature, with such liens, if any, to attach to the proceeds of sale in such order and priority as they existed immediately prior to the Closing, and the sale of the Real Property is subject to, among other things (a) any state of facts that an accurate survey may show; (b) any covenants, restrictions and easements of record; (c) any state of facts a physical inspection may show; (d) any building or zoning ordinances or other applicable municipal regulations and violations thereof; and (e) environmental conditions. By delivering their respective Deposits, all Bidders acknowledge that they have had the opportunity to review and inspect the Real Property, the state of title thereof and laws, rules and regulations applicable thereto, and will rely solely thereon and on their own independent investigations and inspections of the Real Property in making their bids. Neither Maltz, the Seller nor any of their collective representatives makes any representations or warrantees with respect to the permissible uses of the Real Property including, but not limited to, the zoning of the Real Property.  All Bidders acknowledge that they have conducted their own due diligence in connection with the Real Property and are not relying on any information provided by Maltz, the Seller, or their professionals.  The Real Property will be sold subject to any and all violations requiring corrective action.  The information contained herein was derived from sources deemed reliable, but is not guaranteed.  Most of the information provided has been obtained from third-party sources and has not been independently verified.  It is the responsibility of the Buyer to determine the accuracy of all components of the sale and Property.  Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Property, including without limitation, environmental and physical condition of the Property.  All prospective bidders are urged to conduct their own due diligence prior to participating in the Public Auction.  Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.

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