1.5 ACRE CORNER BLDG/LAND

Auction by: Maltz Auctions

Live Off-Site Auction

Begins: Thursday, May 21, 2020 at 11:00 AM EDT

Location: Maltz Auctions, 39 Windsor Place, Central Islip, NY 11722

Details

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Immediate Sale Directed via Public Auction

1.5 Acre Corner Assemblage

Redevelopment/Further Development Opportunity

Spectacular Exposure on Route 112 Traffic Light Intersection

Office Building & Land – Available in Bulk or Individually

Details:

  • 590 Route 112 & No # Terryville Road, Port Jefferson Station, NY 11776
  • 51,643 Sq Ft & 13,558 Sq Ft Lots – Available in Bulk or Individually
  • Improved with a Newly Gut Renovated 1,964 Sq Ft Office Building & Former Bank Drive-Through ATM
  • Rear Tax Lot is Accessible to Both Route 112 & Terryville Road 
  • Prime Further Development Opportunity of Solely the Rear Lot or Redevelopment Opportunity of Both Lots
  • Daily Traffic Count of 28,737 Vehicles on Route 112
  • Daily Traffic Count of 7,894 Vehicles on Terryville Road
  • Half-Mile to Port Jefferson LIRR Station & Route 347
  • Close Proximity to Downtown Port Jefferson, Mather Hospital, St Charles Hospital & More
  • J2 Zoning
  • Property #1: Terryville Road
  • Former Bank Drive-Through ATM
  • 51,643 Sq Ft Lot
  • Annual Real Estate Taxes: $11,389.89
  • Section: 160  Block: 6  Lot: 6
  • Previously Listed at $895,000
  • $400,000 Opening Bid
  • Property #2: 590 Route 112
  • 1,964 Sq Ft Newly Gut Renovated Office Building
  • 13,558 Sq Ft Lot
  • 12 Parking Spaces
  • 1st Floor is Vacant & Delivered Vacant at Closing
  • 2nd Floor is Occupied Through 2024 (Early Termination by Landlord Clause with 90 Days Notice)
  • $1,545/Month Base Rent & $150 Additional Rent – 3% Annual Escalations
  • Annual Real Estate Taxes: $11,389.89
  • Section: 160  Block: 6  Lot: 7
  • Detailed Description Available Under the Documents Tab
  • Previously Listed at $825,000
  • $300,000 Opening Bid
  • Combined Property Information:
  • Lot Size: 65,201 Sq Ft (1.5 Acres)
  • Section: 160  Block: 6  Lots: 6 & 7
  • Annual Real Estate Taxes: $22,779.78
  • Previously Listed at $1,720,000
  • $700,000 Opening Bid

 

Inspections/Viewings: TBA.

Auction Date & Time: Thursday, May 21, 2020 at 11:00 am.  Registration commences at 9:30 am.

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

Terms & Conditions of Sale: Properties sold free & clear of all monetary liens.  In order to qualify to bid, all prospective bidders must present a cashier’s check in the amount of $35,000 to bid on each property individually or $70,000 to bid on both properties, made payable to “Maltz Auctions”.  Within 48 hours following the auction, Successful Bidder must post a deposit in the total amount of 18% 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: An eight (8%) percent 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.

Broker Participation: 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.

 

Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
Richard B. Maltz, Licensed Real Estate Broker
Phone: (516) 349-7022  FAX: (516) 349-0105

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 or conditions 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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