130-acre-heavy-industrial-commercial-building-and-gravel-pit-real-estate-auction
Auction #155187

130 ACRE HEAVY INDUSTRIAL, COMMERCIAL BUILDING and GRAVEL PIT REAL ESTATE AUCTION

16,000 Sq. Ft. Building – Fully Permitted Gravel Operation – 4000' of Rail Frontage – Public Utilities - Tillable Land

130 ACRE HEAVY INDUSTRIAL, COMMERCIAL BUILDING and GRAVEL PIT REAL ESTATE AUCTION Wednesday October 14th – 5:30 PM 16,000 Sq....

Location:

1438 State Route 665
London, OH

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Category:
Real Estate > Industrial
Type:
LIVE
Date:
Wed, Oct 14th
5:30 PM US/Eastern
no-title
Lot #GALLERY

Description

130 ACRE HEAVY INDUSTRIAL, COMMERCIAL BUILDING and GRAVEL PIT REAL ESTATE AUCTION

Wednesday October 14th - 5:30 PM

16,000 Sq. Ft. Building – Fully Permitted Gravel Operation – 4000' of Rail Frontage – Public Utilities - Tillable Land
Having accepted another opportunity we will sell the following real estate on location at 1438 State Route 665, London, OH.
REAL ESTATE: Situated on the east side of London, this property offers a great number of commercial and financial opportunities with an easily accessible location. Commercial land developers, entrepreneurs, contractors, ready mix concrete plants, and farmers you need to look at the long-term investment opportunity the property presents. 130 acres zoned heavy industrial gives this property nearly an open book of development potential.
To the north this property fronts on over 4000’ of Norfolk Southern railway with potential for a spur or landing yard. The property is in the Rickenbacher port authority allowing the possibilities for substantial commerce, production, and ease of transportation. A previous development plan showed the possibility of a 100-car loop which would be ideal for a much-needed grain terminal in Madison County.
Located in the center of the property is a fully permitted, operational gravel pit. An estimated 3.5 million tons is located in this deposit with high quality aggregate usable for ready mix and a multitude of additional applications. Since offering public sales in May the demand has nearly doubled to today. The clay overburden has also tested to be high quality and suitable for landfill and other high standard uses. As valuable as the product is to sell offsite, maybe the greatest value it can offer is to be used onsite for a self-sustained commercial development. Use the overburden and aggregate for building pads which adds significant financial possibilities if you were to offer build to suit warehousing, offices, and manufacturing facilities. Core and aggregate samples are available for your inspection and testing.
Additionally, the property offers an 80’x200’ commercial building. Built in 2007, the 16,000 square foot building has 18’ wall heights, overhead doors on each end, 3 phase electric, and gas forced heat. The facility makes for an ideal shop to complement the gravel operation or could be converted to manufacturing or warehousing. The structure was well built and in good condition.
Currently 100 acres of the total is used as tillable row crop land. The land offers good surface drainage with a county-maintained ditch to the rear of the property. Add this land to your current farming portfolio, boost your income with the aggregate sales, and use the building as the shop and hub of your operation. You will appreciate what your money can buy here.
As you can see the possibilities with this property are nearly limitless. Add in the public utilities, high pressure gas supply, fiber optic, and ease of accessibility and this property has long term investment opportunities that are hard to duplicate. Pick up a flyer on the property and walk the land at your leisure but please be respectful to the tenant farmers crops. Private showings of the building are available upon request. The property will be offered in 4 parcels and in its entirety.
Parcel 1: 2.86 acres with the 16,000 square foot commercial building. Parcel 2: 16.6 acres with active fully permitted gravel operation. Parcel 3: 32.7 acres open and tillable, suitable for heavy industrial development. Parcel 4: 77.4 acres open and tillable with additional access possibilities from 142 and London’s Industrial Park. If the property sells in parcels a drainage easement for parcel 1 will be added to this parcel.
TAXES: The property is located in London Corporation Limits, Madison County parcel #s 32-00002.000, 31-02739.001, 31-003591.000, and 31-02739. Annual taxes are currently $9,964.56 and will be prorated to the date of closing.
TERMS: The successful purchaser(s) will be required a 10% non-refundable down payment at the auction with the balance due at closing within 45 days or at the completion of the survey. A 10% buyers premium will be added to the final bid to determine the purchase price. All desired inspections need to be completed prior to bidding. A complete list of terms is available at www.RES.bid.
Auction by order of DC Engineering & Development and London Materials

Andy White 419-651-2152, Joseph Mast, Seth Andrews, Broker



LONDON MATERIALS EQUIPMENT AUCTION
Friday October 16th - 9 AM
Dozers – Excavators – Screens – Conveyors – Cranes – Pans – Lifts - Trucks – Trailers – Farm Equipment – Huge Shop Inventory
Auction will be held on location at 1438 State Route 665, London.

*Details and Online Bidding available at www.RES.bid
Auction by order of London Materials – Chuck Duvall, Owner 614-270-8785

Andy White 419-651-2152, Joseph Mast, Seth Andrews, Drew Turner