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sunshine-piping-industrial-real-estate-auction
Auction #184297

SUNSHINE PIPING INDUSTRIAL REAL ESTATE AUCTION

Auction - Two Industrial Buildings in Panama City, Florida!

Online Only Industrial Real Estate Auction- Ends July 21st! Two Parcels Totaling 50,000+ S.F. on 11+/- acres. Panama City, Florida We will offer the real estate of Sunshine Piping, Inc., in an online auction, ending July 20th. The company has closed and hired Gallivan to sell the real estate. We will be selling machinery, equipment,...

End:
Jul 21st 2021
2:00 PM US/Central
Category:
Featured > Real Estate > Industrial
Type:
ONLINE

Description

Online Only Industrial Real Estate Auction- Ends July 21st!
Two Parcels Totaling 50,000+ S.F. on 11+/- acres.
Panama City, Florida

We will offer the real estate of Sunshine Piping, Inc., in an online auction, ending July 20th. The company has closed and hired Gallivan to sell the real estate. We will be selling machinery, equipment, and inventory during the same period.
Parcel #1 - 6513 Bay Line Drive, Panama City, FL 32404
This property includes a 29,000+/- Metal building with 27 ft height, bridge cranes and air compressors. Office area is 1,960 SF. There is also an outbuilding of 2,960 S.F. which was used for sandblasting. The main parcel is 2.31 acres, and includes two additional, non-contiguous parcels of .71 acres and 4.26 acres (6130 and 6509 Bay Line Dr), for a total of 7.28 acres. 6513 is zoned Heavy Industrial. The main building and office area has damage from Hurricane Michael, is being sold “AS IS”. Currently listed at $1,325,900.
Parcel #2 – 6521 Bay Line Drive and 7001 Bayou George Drive
This property includes a 22,650 S.F. metal building with 27 ft clear height. The two parcels total 4.69+/- acres with access from both streets. 8’ reinforced slab floor and six overhead drive-in doors. There are four 5-ton gantry cranes. Electric is 400-amp, 3-phase. There is a 2,480 SF outbuilding and 2,000 SF wood frame building. Zoned IND-2 Industrial. The main building has damage from Hurricane Michael, mostly to the overhead doors, and is being sold “AS IS”. Currently listed at $1,380,000.
Contact Norm Gallivan to schedule an inspection. (239) 250-5658, or norm@njgallivan.com

Terms of Sale: A 5.5% buyer’s premium will be added to the high bid, to equal the total purchase price. A $10,000 deposit required to bid. Deposit is refundable only if you are not the high bidder. Property sells “AS IS”, and subject to Seller Approval. Successful bidder to pay balance to 10% of purchase price within three days after Seller Approval, with closing within 45 days. Download complete terms of sale from our website at www.njgallivan.com
 

Dates

Bidding Dates
Thursday
1
Jul '21
at
09:00 AM
US/Central
Wednesday
21
Jul '21
at
02:00 PM
US/Central
Preview Dates
Pre-bidding Dates
Checkout Dates

Auctioneer

A great opportunity to purchase one or both of these industrial properties, totaling more than 50,000 SF and 11+ acres of ground. Plenty of room for parking and outside storage. Bridge cranes and air compressor are included with the purchase! Currently listed at $1,325,900 and $1,380,000 respectively, we welcome offers anytime.

Directions

1/2 mile off US 231.

Terms

Auction Terms of Sale
THESE PREMISES ARE OFFERED upon the following terms and conditions:

1. The Purchase Price will be determined by online bidding. A $10,000.00 deposit is required to bid. Bidders will have the option of bidding on either or both parcels. Bidding will begin on July 13th, 2021 at 10:00am CDT. Bidding will conclude on July 20, 2021 at 2:00pm CDT. If bids are made within three minutes of the ending time, the auction will automatically be extended for another three minutes, until no more bids are placed. Seller has the right to accept or reject any bids within three (3) business days following the conclusion of the auction.

2. Purchaser will be required to pay a non-refundable earnest money deposit of ten percent (10%) of the Purchase Price, which will be held by title company (“Deposit”). The Deposit will be paid as follows: $10,000.00 cashier’s check, wire transfer, or credit card, to Auctioneer, prior to bidding; The balance to 10% of the total purchase price is to be paid within three business days after Seller approval, to title company. The Deposit will be refunded only if you are not the high bidder, or if Seller rejects your bid.

3. The balance of the Purchase Price is to be paid at the time and place of closing, to be determined by the Seller, within 45 days after Seller approves the high bid(s). If the Purchaser is not ready to close title by the scheduled closing date, any adjournment granted at the request of the Purchaser shall be only upon the provision that all prorations and adjustments shall be as of the scheduled closing date.

4. The Real Property is sold, and the Purchaser agrees to accept the Real Property “as is” in its present condition in all respects, subject to utility easements, zoning ordinances, and any other restrictions of record. No warranties as to physical condition, environmental condition, habitability, suitability to particular purpose, tenancies, or compliance with any laws, codes or ordinances, including those relating to water supplies and septic systems (“Deficiencies”) are made by the Seller, unless specifically stated herein. Cost and responsibility for curing Deficiencies, if any, is the Purchaser’s, and the correction or cure of any Deficiencies shall not be a condition of this sale or in any way affect Purchaser’s obligations under these Terms of Sale. Any inspections by Purchaser or his/her/their representatives shall be at Purchaser’s expense and for his/her/their information only.

5. Rentals, water and sewer charges and any other matters appropriate for prorating and adjustment shall be prorated between the Seller and the Purchaser at the time of closing. Any installments for local improvements not due and payable at the time of closing shall be paid for by the Purchaser as they thereafter become due. Real estate taxes will be prorated to the date of closing. Closing fees, if any, will be shared equally between Seller and Purchaser.

6. The Seller shall be required at his own expense to furnish to the Purchaser at least ten (10) days prior to the date of closing, a preliminary binder of title insurance by a recognized title company, showing good and marketable or insurable title. At the time of closing herein, the Seller shall tender to the Purchaser a deed to said premises free and clear of all liens and encumbrances except for easements, restrictions, and covenants of record together with an owner’s policy of title insurance. The title company shall act as closing agent with respect to the closing of this sale, and hold the earnest money Deposit(s) made on account.

7. If the Purchaser fails to comply with these terms of sale the Deposit made on account hereof shall be forfeited, and the Seller shall be entitled to pursue all other available legal and equitable remedies against Purchaser, including but not limited to holding Purchaser liable for any deficiency resulting from a subsequent resale.

8. This sale is not contingent upon the ability of the Purchaser to secure financing, sell another Real Property or any contingencies whatsoever except as provided in paragraph 6.

9. This sale agreement shall be governed by, and construed in accordance with, the laws of the State of Florida.

10. In the event of any litigation arising out of this sale, this agreement or any breach thereof, the successful party in any litigation shall be entitled to attorney fees and all costs of litigation.