THIS IS A COMPLETED SALE
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View current listings by this company
THORNTON HALL BUSINESS FACILITY AUCTION
Previous Page Listing ID#: 271609
Previous Page Listing ID#: 271609
| Auction Location |
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Sharon, PA 16146 |
| Auction Dates and Times |
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Bidding Starts: Wednesday Apr 7, 6:00 PM Bidding Ends: Wednesday Apr 7, 6:15 PM |
| Auction Type |
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 Online Auction
VIEW ONLINE CATALOG |
| Company Information |
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LOOMIS GROUP AUCTIONEERS Contact: Client Services Phone: 724-528-2550 Email: loomisgroupco@gmail.com Website: www.loomisauctions.com/ GoToAuction.com ID#: 6468 View company information and listings |
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| Listing Video |
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| File Attachments |
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 thornton_hall_flyer_4_2_21.pdf
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| Listing Information |
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OWNERS/PARTNERS RETIREMENT
MULTI RENTAL BUSINESS FACILITY / REAL ESTATE AUCTION
NOW SELLING TO THE HIGHEST BIDDER AT ABSOLUTE AUCTION, AFTER A VERY LOW OPENING BID OF ONLY $230,000.00!
UP TO 7 LARGE RENTAL INCOMES. 4 UNITS OCCUPIED, WITH AN ADDITIONAL ONE IN
PROGRESS.
RESERVES HAVE BEEN REDUCED, PROPERTY HAS A MOST CURRENT VERY CONSERVATIVE APPRAISAL OF APPROX: $685,000!! This does not reflect any income or profitability of the facility.
THE RESERVES HAVE BEEN REDUCED 6 FIGURES (SEVERAL) FROM THE ORIGINAL!!! Loomis Auctioneers has been directed by the sellers to SELL IT! The partners want to retire, they have profited for years from the business, thus giving someone new a huge opportunity!
BIDDING UNDERWAY NOW! ONLINE BIDDING CONCLUDES:
Wednesday, April 7th, at 6:00 PM
Go to www.loomisauctions.com and click on "Online Bidding" search for this auction. View, register and place your bids online now!
LOCATED IN THE SHARON, PA SPECIAL OPPORTUNITY ECONOMIC ZONE
Approx. 68,000 sq. ft. multi business facility on approx 2.5 acres. Multi income facility (like a small mall property). Commercial block, masonry, brick, steel & metal (fortress) building.
Regional Destination Landmark, since the 1950s! 1216 Hall Avenue, Sharon, PA 16146
Less than 1 minute to Avalon Country Club, Golf Course, Buhl Park, and Sharpsville PA. Just a couple of minutes to the city core of Hermitage and Sharon, PA. OPEN HOUSE / INSPECTION DAY:
Please call or email us to schedule your private viewing appointment at any time!
Doors open on auction day at 5:00 PM, prior to timing out at 6:00 PM, for final inspections, and staff assisted floor bidding. Walk-in inspections okay. Inspections only with approval of Loomis Auctioneers.
Real Estate Agent/Broker Participation Invited!
** NOTICE TO ALL CUSTOMERS: IT IS BUSINESS AS USUAL, 110% AT THORNTON HALL BOWLING & AND ALL OTHER BUSINESSES IN THE FACILITY, DURING AND AFTER THE AUCTION PROCESS! ** FANTASTIC BUSINESS & INVESTMENT OPPORTUNITY. A LANDMARK LOCATION & BUSINESS ESTABLISHED FOR NEARLY 60 YEARS! MULTI BUSINESS INCOME OPPORTUNITY! *Please note: The opening bid does not reflect valuations, reserves, or other financial items. The open bid is a very, very, low realistic point selected to start the bidding. This eliminates all unreasonable low bidding, and possible unqualified bidders. Do not bid unless you have the ability to pay. *Currently approx. $3,000.00 rent income, that does not include the large 10,000 sq. ft. retail box, the upper level bowling 34,000 sq. ft. center, and 10,000 sq. ft. multi use space.
Please take a minute to copy+paste to view these videos provided by the sellers:
https://www.youtube.com/watch?v=Cy3zZG-ictQ
https://www.youtube.com/watch?v=wye-nTnWAbE
https://www.youtube.com/watch?v=4ZK2oYOre84
OVERVIEW: Built, owned, and operated successfully by the family, since the 1940's, the 3 member family partnership has decided to retire, fully. To offer this fantastic facility and business to the general and business public on the business auction platform. We thank the Scott family for selecting and awarding Loomis Auctioneers this very special opportunity, and entrusting us to facilitate this lifelong family business to new ownership. This business and facility reflects the partners love and commitment to the business, community and their guests. *The very low opening bid (starting price) does not reflect any valuations, reserves, or any financial values, whatsoever. It simply serves as a very, very low starting point, to start the bidding. All info has been provided by the seller.
**Per the terms and conditions of this auction. All inquiries, or other items regarding this real estate must be directly to Loomis Auctioneers, Inc. Absolutely no direct or indirect inquiries to the seller(s).** *Bidders note: Per a regional commercial builder, this building may be at, or in excess of, $100.00 per sq. ft. (68,000 sq. ft.) to build today. Then the bowling facility may be nearly $1 million to build out to get business ready. Bidders perform your own valuations, and opinions. A HUGE BLACKTOP PARKING LOT HORSESHOE'S THE BUILDING! Investor/Commercial Landlord/Owner Operator/Landlord Prime Opportunity. Read on for the amazing numbers! MULTI INCOME COMMERCIAL PROPERTY Offering the real estate, existing business assets, fixtures, inventory, equipment, support equipment. A turn key opportunity, like no other! A must see and consider! Beautifully maintained, super clean building and business! OVERVIEW: UPPER LEVEL #2: APPROX. 34,000 SQ. FT. SUPER 44 LANE BOWLING & EVENTS CENTER Approx. 44 Lanes. AMF & Brunswick automatic pinsetters, party room, vending, snack bar, restrooms (newer), sound system, etc. *Also includes approx. over $60,000.00 of new, and like-new bowling center inventory, parts, and support repair equipment. Tools, power tools, new and newly fabricated parts, approx. Extra 90 cases of bowling pin inventory packed 10 pcs. 86 cases in use , about 1800 pins in inventory, 1000s of support parts, hand tools, and repair machinery. 2X large workshops on level 2, restaurant equipment, etc. The Brunswick & AMF bowling lanes and excellent condition pinsetters, are all included in the real estate price! Just for the automatic pinsetters replacement cost, is estimated at over $600,000.00. These are in well maintained, excellent working order, since purchased new! LOWER LEVEL: AKA: UNIT #5: APPROX. 10,000 SQ. FT. RETAIL SPACE (AVAILABLE): Includes all equipment from a retail food center. Walk-in coolers/ freezers, meat & bakery, retail coolers, etc. included. Separate services. AKA UNIT #4: APPROX. 3,000 SQ. FT. NEWLY RENOVATED RETAIL SPACE (AVAILABLE) Includes newly built out, walk-in cooler & other equipment included. Separate services. AKA UNIT #4B: RENTAL (RENTED)APPROX. 700 SQ. FT. UNIT #3: RENTAL (RENTED) APPROX. 600 SQ. FT. UNIT #2: PUB/RESTAURANT RENTAL(RENTED) APPROX. 1,100 SQ. FT. UNIT #1: APPROX. 15,000 SQ. FT. UNDER ROOF PARKING (AVAILABLE) EASILY ENCLOSED FOR STORAGE, WAREHOUSING, ETC. FINANCIAL RENTS & INCOME: (Currently leased. asking prices ,and speculated, at market or below market prices) LEVEL #2 BOWLING & EVENTS CENTER: In the event you would not operate, and lease the business. Projected very low $2,500.00 - $3,000.00 (per month) to a third party. LEVEL #1 ALL INFO IS APPROX: UNIT #5: *10,000 SQ. FT. $3,000.00 PER MONTH (LOW) NOT LEASED UNIT #4: *3,000 SQ. FT. NEWLY BUILT OUT $1,500.00 PER MONTH (LOW) NOT LEASED UNIT #4B: LEASED CURRENTLY @ $400.00 PER MONTH (LOW) UNIT #3: LEASED CURRENTLY @ $450.00 PER MONTH (LOW) UNIT #2: LEASED CURRENTLY @ $1,200.00 PER MONTH UNIT #1: *APPROX. 15,000 SQ. FT. UNDER ROOF PARKING (NOT LEASED) CAN BE CONVERTED TO CAR, BOAT, RV STORAGE IN WINTER, WAREHOUSING, SUMMER OUTDOOR MARKET. COULD BE EASILY ENCLOSED. ESTIMATED $1,000.00 - $3,000.00 PER MONTH. TOTAL ESTIMATED MONTHLY INCOME: $8,000.00 - $10,000.00 PER MONTH LOW. *Estimated and opinion based on area, and similar rates. The owner's marketing and business ability to generate business and tenants. Loomis Auctioneers or Seller does not assume any liability for these speculated revenues, whatsoever. Simply a market business, opinion. It is the bidder's liability to perform their own due diligence. SELLERS WILLING TO TRAIN & ASSIST DURING THE POST AUCTION TRANSITION PERIOD. Low Maintenance & Utility Upkeep Low Taxes Landmark Location! Very safe area! Clear Deed for Immediate Closing 600 Amp Service / Separate 400 Amp Service Heating & A/C National Radiator, Hot Water Boiler, Updated 5 Yrs. Ago. HVAC Units 100% Sprinkler System 1500 Lb. Hydraulic Elevator, Rear Entrance (Needs Repair). 3X 40 Gallon & 2X 50 Gallon Hot Water Tanks City Sewage & Water Emergency Lighting Newly Renovated Commercial Restrooms Level #2, and some on Level #1 Roof has been, and is being maintained. Per seller, predominantly Brai, and some rubber membrane on roof. OVERALL BUILDING APPEARS TO BE IN VERY GOOD CONDITION. BIDDERS ARE RESPONSIBLE TO PERFORM THEIR OWN DUE DILIGENCE, AND VALUATIONS. ALL REAL ESTATE SOLD AS-IS *Some identified personal items, office, and computer systems, and others not included. These items are marked and identified at the location. All information is provided by the sellers. All bidders agree to hold harmless Loomis Auctioneers, Inc. of any and all liability, completely whatsoever. Real Estate Terms & Conditions: Property Sold AS-IS. 10% Deposit of final bid, auction day. 10-15% Buyer’s premium added to the final bid, auction day. Balance at closing. Guaranteed Clear, Good Title At Closing. Closing Costs: Unless specified in writing, buyer and seller, assume closing costs, split 50% seller / 50% buyer. All current taxes prorated the time of settlement. Any and all delinquent taxes are assumed and paid by the seller. All information has been provided by the seller. It is the sole responsibility for the buyer to perform any and all due diligence, prior to bidding. Bidders / Buyers understand and agree to the terms and conditions, and real estate auction agreement, prior to bidding. Bidders / Buyers agree to "hold harmless" Loomis Auctioneers of any, and all liability, whatsoever. Need financing? Contact Loomis Auctioneers for more info. Real Estate Agent Participation Invited. Need assistance or have questions regarding the auction process? Need lending or other financial info? Call us regarding the FAQ’s. How do I bid? Do we need all the money on auction day or at the closing of auction? Not at all, only the deposit and buyer's premium. The balance at closing. Can we have an extension for closing? Yes, for qualified buyers. Call us, we can answer all the questions, we love to talk to our bidders! |
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Auction License: PA- AU006075 |
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