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Houston, TX - Former Joe's Crab House

2120 S Texas Hwy 6 - Houston, TX

Description

Former Joe’s Crab Shack, a free standing restaurant on Hwy 6 with great ingress and egress and 67,674 VPD traffic counts is in pristine condition.

This property is ideal for continued operation as a restaurant or conversion to a wide variety of retail uses where high traffic is a requirement.  There is also a large covered outdoor patio, water feature, children’s play area, wheelchair ramp, and professional landscaping.

The location adjacent to two hotels, near West Oaks Mall and Central Shopping Center and many National Retailers such as Walgreens, Best Buy, Home Depot, Walmart Supercenter, etc are fantastic income generators.

This booming “Energy Corridor” area of the Houston market area has strong demographics with a population of 307,418 in a 5 miles radius.

  • 7,841 SF gross building, plus covered porch outdoor seating areas
  • 2.25 acres 
  • Built in 1997
  • Single-story wood and steel joist stucco slab-on-grade construction
  • Easy access is provided through one dedicated curb cut, as well as neighboring parking areas, and an adjacent access road
  • Ample parking is provided with 135± striped parking spaces and 6± handicapped spaces for a total of 141± parking spaces.
  • Taxes - $46,841.78 (2016) - Parcel # 116-539-001-0010

Why Buy This Property

This property is ideal for the astute user or investor seeking a recently closed  Joe's Crab Shack location in prestine condition with great visibility.

Location - The location adjacent to two hotels, near West Oaks Mall and Central Shopping Center and many National Retailers such as Walgreens, Best Buy, Home Depot, Walmart Supercenter, etc are fantastic income generators. 

High Traffic Counts - 67,674 VPD on HWY 6

Alternative Use - An excellent location and property for conversion into many retail uses requiring high traffic counts.  

Property Location

Auction / Date / Time

On Line Auction
November 15, 2017 1:00 CST

Property Video

Offering Strategy

Proof of funds required prior to the auction.  10% Earnest Money required upon winnng the bid.  Closing on or before December 14, 2017.  The Buyer's Premium equal to 10% will be added to the winning bid to determine the sale price.

This auction features a "grouped bid extension."  This means if any of the properties in the auction receive a bid within five minutes of the deadline, the deadline will extend for an additional five minutes on all auction properties.  The opportunity to bid will continue until five minutes past the last bid placed.  The Broker / Auctioneer is not responsible for bidding errors or the inability to bid caused by internet outages, bid platform failures or power failures.  Should you have any questions or trouble bidding, please contact us at 770-980-9565

Inspection Dates

Inspections:  1:00 PM - November 2, 8 and 14

Please note:  Inspections begin promptly.  A Site Access Form signed by each attendee as well as on site registration and a government issued photo ID is required at each inspection.  Please download the Site Access Form and bring it with you to the inspection.

Auction Location

The online-only auction ends on Wednesday, November 15th at 2PM ET, 1PM CT.

Online bidders must register to bid at www.AMCbid.com no later than 24 hours prior to the auction. 

For more information, please visit the www.AMCbid.com website where you can find information about the property, terms, and registered to bid.

After clicking into individual asset listing pages, find the Documents tab below the photo to review and download due diligence documents.

Click the red "Bid Online Now" buttons to create a bidder profile. Once logged in, click the blue "Register to Bid" button to start the registration process.

For property and inspection specific information, please contact: Michael Fine, (312) 278-0600 ext 101, michael@fineandcompany.com

If you have any questions on the approval or bidding process, you may contact Heidi Googe at heidi@AMCbid.com, 404-821-8069 or Austin McRoberts at austin@AMCbid.com, 404-408-5222.

 

Details

Certified Funds To Bid : Bank proof of funds required to bid

Buyer's Premium (Buyer's Fee) : 10% of the high bid

In Cooperation With : Auction Management Corp.

Contact Person

  Fine And Company LLC
  Michael A.Fine, CCIM, CAI, AARE
  Illinois, United States
  312-278-0600
  michael@fineandcompany.com

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Other Information

Broker Participation : Unless noted otherwise in property listing or herein, a broker commission of two percent (2%) of the Winning Bid will be paid on real estate.  A commission will only be paid to the properly licensed broker whose prospect purchases and closes on the real estate. To qualify for a commission, the Broker must register by mail, email, fax or hand delivery using the Broker Registration Form posted to the website for the property listing prior to bidder registration. The registration form must be signed by the prospect and the Broker, and must be received by the Designated State Licensee with a copy to info@amcbid.com for the state in which the Property is located no later than 5:00 PM two (2) days prior to each bid deadline via fax or mail.  In no case will a broker registration be accepted after a bidder has registered. Any Broker receiving commission pursuant to separate agreement with Seller is NOT eligible to receive any additional commission. Broker must also sign the Purchaser- signed Auction PSA following completion of the auction. Commissions to be paid only upon closing. A Broker cannot act as a principal and a broker on the same transaction.

Licensing : Fine & Company LLC, Licensed Illinois Broker

Terms Of Sale : This auction is being conducted subject to the Terms of Sale and Purchase and Sales Agreement. 

Disclaimer : The Seller, Broker, and Auctioneer and their agents assume no liability for inaccuracies, errors, or omissions in the auction marketing materials, including the Bidder's Information Packet. All square footage, dimensions, real estate taxes, and common area fees, if any, are approximate. All materials are subject to inspection and verification by all parties relying on them. This offering is subject to prior sale and may be withdrawn, modified, or cancelled without notice at any time. This is not a solicitation or offering to residents of any state where this offering is prohibited by law.

We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap status, familial status or national origin or any other classes under state or local law or intention to make any such preference, limitation, or discrimination.

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