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Wichita Falls, TX - Former El Chico

1028 Central Expressway - Wichita Falls, TX

Description

Former El Chico restaurant. Stucco sided building zoned G-C General Commercial on irregular shaped lot with 114 marked parking spaces, 216 feet of frontage and curb cut on Central Freeway access road, 117 feet of frontage on McKinley Avenue to the rear. Tax ID # is x. 2017 taxes were estimated at $17,000 on an $700,000 valuation, down from the 2016 $833,000 valuation. A December 22, 2006 Phase 1 Site Assessment did not reveal the presence of any recognized environmental conditions (RECs) in connection with the site.

.  The location is ideal for a company seeking a restaurant or retail property with visibility to Central Freeway.  

  • 6,428 SF gross building
  • 1.84 Acres or 80,255 square feet
  • 216 FT frontage and curb cut on Central Freeway access road
  • 117 FT frontage on McKinley Avenue (rear)
  • Constructed in 1976 with renovation in 1993
  • Concrete slab on grade construction with wood framing and wood exterior.
  • 112 parking spaces
  • Electrical, natural gas, water, sanitary and storm sewer 
  • Zoning: General Commercial
  • PIN 16‑662‑000‑0001

     

Why Buy This Property

This property is ideal for the astute user or investor seeking a full service restaurant facility or retail space. 

Location - Central Expressway (I-44, US-281, US-287 )Service Road location

Visibility - Great visibility

Neighbors - Red Roof Inn, Super 8 Motel, Wataburger, Comfort Inn, La Quinta Inns & Suites

Future Use - Restaurant, Retail, Office, Medical

Property Location

Auction / Date / Time

On Line Auction
August 09, 2017 12:00 CDT

Offering Strategy

TO BE SOLD TO THE HIGHEST BIDDER ABSOLUTE, REGARDLESS OF PRICE!

Proof of funds required prior to the auction.  10% Earnest Money required upon winnng the bid.  Closing on or before September 13, 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:  11:00 AM Sharp - August 1 & 7

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

On line bidding closes on August 9th at 12:00 PM CDT.  

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

 

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 : Renee Y. Jones, licensed Texas Auctioneer #9270, Michael A. Fine, Licensed Texas 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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