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2,300SF Office Building on 0.5 Acres in Lithonia

2523 Panola Road, Lithonia, Georgia 30058 - DeKalb County
Auction 0.71 Acres
Property ID 3729093
2,300±SF Office Building on 0.5± Acres in Lithonia, GA (Dekalb County)
Online-Only Auction! Lithonia Georgia
02/22/2017 11:00 AM

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Description

101: 2,300SF Office Building on 0.5 Acres in Lithonia, GA (Dekalb County)

2523 Panola Road, Lithonia GA 30058

Bidding Opens: Wednesday, February 15 at 11:00 AM ET

Bid Deadline: Wednesday, February 22 at 11:00 AM ET

Inspection: Monday, February 20 at 11:00 AM ET

Sale Manager: Jeb Howell 770-841-9924

2,318SF Single story masonry building constructed in 1965 on lot located on west side of Panola Road near corner of Dividend Drive. Per the tax plat and zoning map, lot is 100 feet wide by 225 feet deep. Legal description from title work indicates a larger parcel with greater width and depth (over 130 feet of frontage on Panola and over 230 deep of depth) and a lot size of 0.71 acres. Conveyance will be according to the legal description.

Zoned C-1 with conditions, Local Commercial District. Zoning Condition CZ-04-131**

Tax Parcel # 16 040 01 011

2016 DeKalb County Taxes $4,122.18

Per GDOT, 2015 annual average daily traffic counts on this part of Panola Road were 28,700.

**The property is zoned Commercial (per confirmation by Dekalb Co Zoning). It has a zoning restriction which limits the use to a Beauty Salon.The property was given this conditional zoning in approx 2004 (see document in our due diligence section). At that time the surrounding area was said to be residential. Today the surrounding area is largely commercial. The property would not need to be "rezoned" per se, but if an owner wants to use the property in a capacity other than a beauty salon, they would need to go through the process of having the condition removed.

Terms: Bank Proof of Funds Required to Bid, 10% Buyers Premium added to winning bid to determine sale price, EM Deposit of 20% of purchase price, close by March 22, 2017.

Please Note: All of the properties sell individually as "lots" however they are all tied together by the auction clock. We will set a bid deadline for all of the assets. Once we get within 5 minutes of that bid deadline, any bid placed on Any of the assets will extend All of the assets another 5 minutes. This extension will continue until no bids are placed on any of the assets in a five-minute window.

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Waiting it out can only put you at risk not getting your bid in before the 5-minute clock runs out.

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AMC GAL#2503

Tax Data (Show Tax Data)

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    NOTE: The information contained herein is provided as general information only and has been obtained from sources deemed reliable. It is provided without any guaranty, warranty or representation, expressed or implied, made by Lands of America, or any related entity, as to the accuracy or completeness of the information. The information is presented subject to errors, omissions, change of price or conditions, prior sale or withdrawal without notice. Prospective purchasers should make their own investigations, projections and conclusions concerning the information.