Absolute Auction of Two FL Panhandle Commercial Lots

ABSOLUTE AUCTION

No Minimums - No Reserves

Two FL Panhandle Commercial Lots

.378± Acre Commercial Pad at

4335 U.S. Highway 231, Panama City, FL 32404

&

1.64± Acre Level C-2 Tract at

2516 W Tharpe St, Tallahassee FL 32303

ONLINE ONLY

Bid Deadline Thursday, September 18th at 12 Noon ET/ 11AM CT

UPDATE:  Panama City Auction has been canceled.

Panama City Lot: Click HERE for more information and due diligence

The property is a .378± acre rectangular zero lot line commercial pad in a small 2.3± acre commercial development on the north side of US 231 and the east side of Pipeline Road in unincorporated Bay County, FL. It shares driveway access off Hwy 231 and Pipeline Road, parking, and storm retention with an existing Dollar General Store. It is zoned C-3A. The property rights include a 11.924% interest as a tenant in common with the Common Property, and the property is subject to the Declarations of Covenants, Restrictions and Easements associated with the development, which are recorded in ORB 2523 page 1542 and ORB 2801 page 1067 of the public records of Bay County, FL. There is a utility easement in favor of Gulf Power Company. It is known as Tax Parcel ID 05919-000-000, and has a tax value of $127,000.

Current year real estate taxes and assessments on the property will be prorated as of the date of closing. Buyer to pay all past year unpaid taxes and penalties due and payable.

Tallahassee Tract: Click HERE for more information and due diligence

The lot has 291 feet of frontage on the north side of West Tharpe Street and is 254 feet deep. All utilities are available to the lot, known as Tax parcel 2121510241540. The property has access and use easements along the eastern and northern boundaries in favor of a cell tower, which occupies a fenced area at the northwest corner of the site. The cell tower easement agreement was executed in February 2007 with a 25 year term. There is no income to the property per the terms of the easement agreement. 90% of the property is located within Flood Zone AE per FEMA. Mandatory flood insurance purchase requirements and floodplain management standards apply.

Real estate taxes and assessments on the property will be prorated as of the date of closing. 

Terms:  Bank Proof of Funds Required to Bid,10% Buyers Premium added to winning bid to determine sale price, 20% Earnest Money Deposit, close by Tallahassee by September 29th, close Panama City by October 20th.