Downtown Sioux Falls Redevelopment Site Auction! Jan 31St 10 Am Onsite
Downtown Sioux Falls Redevelopment Site Auction!
121 S Franklin Ave, Sioux Falls SD 57103
Due to the property owner deciding to retire they will offer the following real property at auction located at 121 S Franklin Ave, Sioux Falls SD 57103. Located on the northwest corner of 10th St and Franklin Ave, on the east end of the viaduct- adjacent to the future rail yard redevelopment.
This opportunity is once in one hundred years!
Live Auction will be held onsite 10 am January 31st
This is a very rare opportunity to buy a piece of future Sioux Falls downtown development land at auction. According to Minnehaha County Tax records the land is 58,449 sq ft approximately (1.34 acres). It currently features a 7,500 sq ft building that was built in 1945. The property is currently zoned C-2. It is located in the East bank Redevelopment site and in the highly coveted Qualified Opportunity Zone. Take action as opportunities like thses are not around very often. Area neighbors include: Formatop, 8th and Rail Road Center, McDonald's, South Dakota Department of Social Services. There are approximately 10,900 vehicles per day on E. 10th Street.
Legal Description For the Property: Franklin investment co sub pt tr 3 lots b & c (ex n 160' & ex h-2) SE 1/4 16 101 49 Sioux Falls city unplated
TERMS: CASH- Upon winning the auction bidder will enter into a purchase agreement with the following terms. A 15% non-refundable down payment on the day of the sale with the balance on or before March 2nd, 2020 with possession given the date of closing. A Warranty Deed will be conveyed and an Owner’s Title Insurance Policy will be provided with the cost divided 50-50 between the buyer and seller. The closing service fee will also be split equally between the buyer and seller. The seller will pay the 2019 RE taxes payable in 2020, and the 2020 taxes due and payable in 2021 will be prorated to the date of closing. This property is sold in “AS IS Condition” and the merchantability or suitability of this property for any particular purpose is not guaranteed. Any or all future renovations or development/zoning costs are the responsibility of the buyer. The Real Estate Licensees\ Auctioneers in this transaction stipulate that they are acting as agents for the seller. Information contained herein is deemed to be correct, but is not guaranteed, with any or all measurements, acres or dimensions to be approximations. No survey will be provided and the acres/square feet will be as stated on the county tax records. Sold subject to existing zoning, easements, restrictions, reservations and road/highways of record, if any. Sold subject to confirmation of the owner. Closing to be held at First Dakota Title.
BROKER PARTICIPATION IS OFFERED
For Showings or additional information, contact the auctioneers or Brokers. Broker
Participation Welcome, with a 2% commission payable to a licensed SD RE Broker
who properly pre-registers and represents a successful purchase and meets the
prescribed criteria for Broker Participation – for information broker’s should contact
the office of Total Auctions and Real Estate, LLC @ 605-274-6500
Please email back to Jason@totalaar.com or call 605-351-7430 with questions
Borker wanting to participate must register before auction starts and proper paperwork filled out. Commission will not be paid if Broker is not registerd prior to auction start.