FRE Commercial Auction #307-2: Online Auction for ±48,452 SF former Armory in Flint, MI

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OFFERING MEMORANDUM

1101 Chavez Dr
Flint, MI 48503
Genesee County
Property Type:
Commercial Property
Lot Size:
±3.36 acres

Commercial Property For Sale in Flint, MI
Online Auction for ±48,452 SF former Armory in Flint, MI

DESCRIPTION

DOCUMENTS

VIEWING

FINANCING

Property Description

The former Historic Flint Armory is now available to purchase via Online Auction! The ±48,452 SF historic building is strategically located along the I-475 with a dedicated on/off ramp from I-475.

Property Highlights/Features as follows:

Total square footage is ±48,452 SF which is made up of 3 buildings with the Armory totaling ±37,212 SF and the built-out garage totaling ±9,240 SF and a separate third building is ±2,000 SF

Located Near the Mahindra Buick City Project

Armory originally built in 1924 and has newer windows, electrical, roof, and 2 commercial kitchens

Ideal logistics center, storage facility, R&D Center, or housing redevelopment

Cash flow in-place: ±19% leased (garage building) with a $30,000/yr NOI ($3.25 psf NNN)

Tenant has recently signed a three (3) year lease extension with rental increases

Armory consists of a large gym, multiple classrooms, commercial kitchen and lunch hall as well as stables, bowling alley, shooting ranges and hands-on training rooms

Ready facility for repairing trucks and rigs with over $1M invested by State of Michigan

±3.36 Acres of fenced and military secure paved yard

Downloadable Documents Sign In to Access

Property Information

Marketing Flyer
Last Updated Oct 8
Offering Memorandum
Last Updated Oct 8
Buick City Site - Mahindra
Last Updated Nov 4
Asbestos & Lead Based Plant Building Survey
Last Updated Sep 27
Asbestos & Lead Based Plant Building Survey
Last Updated Sep 27
Compliance Analysis
Last Updated Sep 27
Environmental Assessment
Last Updated Sep 27
Floor Plans & Survey
Last Updated Sep 27
History of the Flint Armory
Last Updated Sep 27

Auction Information

Bid Deposit Form
Last Updated Dec 10
Broker/Agent Participation Form
Last Updated Oct 4
Terms and Conditions of Sale (READ BEFORE SUBMITTING BID)
Last Updated Sep 30

User Access Form

Vault

Lease Renewal - 3 Year (10/2019)
Last Updated Nov 5
Lease Agreement
Last Updated Sep 27

Viewing Schedule

The dates below are currently set for public viewing:

Day	Date	Time	Comments
Thursday	Nov. 14	1:00 PM to 4:00 PM

Financing

There is not a Preferred Lender for this auction. You may not include a financing contingency with your bid.

If you intend to purchase the property ALL CASH, you will be required to provide proof of verifiable funds prior to the offer deadline.

For further details about Financing, please read the Terms and Conditions of Sale located in the Documents section or contact the FRE.com Support Team.

Broker of Record for this property: Pike Street Properties, LLC, MI license #6505404082

All information contained on this website or otherwise communicated, is from sources deemed reliable, but has not been verified for accuracy or completeness, or suitability for any particular purpose. It is presented “as is,” and is not warranted or guaranteed by the Seller or its agents including but not limited to the Listing Broker, LFC Communications, Inc. and LFC Marketing Services, Inc. Buyers shall rely entirely on their own judgment, research and inspection of the Asset, and are encouraged to independently verify information and to consult with appropriate legal, financial and other advisors and real estate specialists.

We have reached our bid deadline and the seller is reviewing the bids received. Please contact the event manager for additional information.

Thank you bidders for participating in this auction. If you did not bid on this auction but would like to be informed of future auctions like this one, click on the Search Auctions button below, set the search criteria and save the search.

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Event Manager Patrick Kelleher P: (949) 706-6117 E: pkelleher@fre.com

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Commercial Property For Sale in Flint, MI

Online Auction for ±48,452 SF former Armory in Flint, MI

1101 Chavez Dr
Flint, MI 48503
Genesee County

Search Auctions

Offers Under Review

Property Description

1101 Chavez Dr
Flint, MI 48503
Genesee County
Property Type:
Commercial Property
Lot Size:
±3.36 acres

Property Description

Property Highlights/Features as follows:

Total square footage is ±48,452 SF which is made up of 3 buildings with the Armory totaling ±37,212 SF and the built-out garage totaling ±9,240 SF and a separate third building is ±2,000 SF

Located Near the Mahindra Buick City Project

Armory originally built in 1924 and has newer windows, electrical, roof, and 2 commercial kitchens

Ideal logistics center, storage facility, R&D Center, or housing redevelopment

Cash flow in-place: ±19% leased (garage building) with a $30,000/yr NOI ($3.25 psf NNN)

Tenant has recently signed a three (3) year lease extension with rental increases

Armory consists of a large gym, multiple classrooms, commercial kitchen and lunch hall as well as stables, bowling alley, shooting ranges and hands-on training rooms

Ready facility for repairing trucks and rigs with over $1M invested by State of Michigan

±3.36 Acres of fenced and military secure paved yard

Downloadable Documents

Property Information

Marketing Flyer
Offering Memorandum
Buick City Site - Mahindra
Asbestos & Lead Based Plant Building Survey
Asbestos & Lead Based Plant Building Survey
Compliance Analysis
Environmental Assessment
Floor Plans & Survey
History of the Flint Armory

Auction Information

Bid Deposit Form
Broker/Agent Participation Form
Terms and Conditions of Sale (READ BEFORE SUBMITTING BID)

User Access Form

Vault

Lease Renewal - 3 Year (10/2019)
Lease Agreement

Property Viewing

Viewing Schedule

The dates below are currently set for public viewing:

Day	Date	Time	Comments
Thursday	Nov. 14	1:00 PM to 4:00 PM

Financing

There is not a Preferred Lender for this auction. You may not include a financing contingency with your bid.

If you intend to purchase the property ALL CASH, you will be required to provide proof of verifiable funds prior to the offer deadline.

For further details about Financing, please read the Terms and Conditions of Sale located in the Documents section or contact the FRE.com Support Team.

Broker of Record for this property: Pike Street Properties, LLC, MI license #6505404082

Visitors

Need Assistance? Give us a call at: +1 800-966-0660 |9:00 AM - 6:00 PM PT (Mon-Fri)

+1 800-966-0660 9:00 AM - 6:00 PM PT (Mon-Fri)

Email Us

Broker/Agent Participation

FRE Event/Property #:	307-2
Property Address:	1101 Chavez Dr Flint, MI 48503
Client:
Client Email Address:
Brokerage Name:
FRE Broker Registration #:
Broker/Agent Username:
Broker/Agent Name:
Participation Commission:	Two percent (2.000%) of sales price

Exclusive Right to Represent: (Client) hereby grants (Broker/Agent ) exclusive rights to represent Client in the purchase of the above property through the FRE.com website.

The broker of record for this property is offering a real estate commission, exclusive of any transaction fee, to the properly licensed broker who represents the buyer of this property ("Buyer's Agent") in strict accordance with the terms and conditions of the sale of the property and the terms of this document. In order to be eligible to earn a participation commission the broker/agent must be a registered FRE Agent or Broker and have obtained an FRE Broker/Agent number, this form must be completed in its entirety, signed by the client and received by FRE prior to the client's initial bid on this property.

1. No Commission shall be paid if the Buyer's Agent or any immediate family members (spouse, siblings, parents, children) are acting as a principal in the purchase of the property, or if they are an owner in an entity such as a corporation, limited liability company, partnership or trust purchasing the property. An affidavit may be required stating that the broker/agent is acting solely as the Buyer's agent and not, directly or through an affiliate or family member, participating as a buyer.

2. The Buyer's Agent must submit a copy of their valid real estate license to the escrow/closing agent before closing as a condition of earning a commission.

3. The client must agree to indemnify the seller, the broker(s) of record and their agents against claims by any other broker/agent claiming a commission pursuant to the client's purchase of the property by reason of having dealt with your client.

4. The commission shall be earned by the Buyer's Agent only upon the successful closing of the property. Said commission shall be paid directly to the broker/brokerage firm set forth on the real estate license and shall be disbursed by the escrow/closing agent.

Attention Client: Your signature is acknowledging that the referenced agent or broker is representing you as the Buyer's Agent on this property that you are attempting to purchase. Should you become the buyer of this property through the FRE website sale format, the agent/broker may earn a commission subject to this document and the terms and conditions of sale. You hereby agree to indemnify the seller and broker(s) of record and their agents against claims by any other broker claiming a commission pursuant to your purchase of this property by reason of having dealt with you.

I have read and agree to the terms of the Broker/Agent Participation Agreement.

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Today's Date :
December 10, 2019

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Property Description

Downloadable Documents Sign In to Access

Property Information

Auction Information

User Access Form

Vault

Viewing Schedule

Financing

Broker of Record for this property: Pike Street Properties, LLC, MI license #6505404082

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BID NOT ACCEPTED

Your bid is below the minimum bid of US $99,000

BID NOT ACCEPTED

Your bid must be at or above the next acceptable bid of %s.

CURRENT HIGH BID: US $0

Minimum Bid Increment: US $10,000

BID NOT ACCEPTED

Your bid must be at or above the next acceptable bid of %s.

CURRENT HIGH BID: US $0 per share for 0 shares.

Minimum Bid Increment: US $10,000 per share

Property Description

Viewing Schedule

Financing

Broker of Record for this property: Pike Street Properties, LLC, MI license #6505404082

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Broker/Agent Participation

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