Commercial Real Estate Auction
2.9 Acres zoned Commercial Improved in Newport, Arkansas containing approximately 30,000 square feet of retail space. Bowling Alley, Medical Facilities and several other options for this property.
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All information below is gathered from public records and reliable resources but is provided for reference purposes only. Seller nor Grady Auctions & Realty, Inc warrant the validity of any information provided herein. We encourage each interested party to complete their own due dilligence before the commencment of the auction, Caveat Emptor.
Pratt Square consist of two (2) different buildings setting on approximately 2.9 acres in the city limits of Newport, Arkansas. The property is zoned CI (Commercial - Improved) by the City of Newport. This property features asphalt paved parking lot, exterior lighting, a billboard for the complex and several other amenities. The physical address of the property is the 1900 block of McLain Street.
The primary building is approximately 170' x 150' with overhangs and is of metal building construction with architectural fronts of native stone / glass facia. A closed bowling Alley is located in the rear of this building and comprises the use of the largest square footage of this building. The bowling alley equipment is still in place. Any bowling alley equipment mechanically attached to the real estate will be sold with the real estate. A medical business is located in one of the storefronts facing McLain Street. This tennant has occupied the same space for many years. There are 3 other storefronts facing McLain Street on the north side of this building. Each contains its own bathroom and hot water heater. There are 4 smaller office suites located on the west side of the primary building.
The second building is approximately 130' x 30' with overhangs and is of metal building construction with architectural fronts of native stone / glass facia. This building contains 6 seperate storefronts. Some have been combined. Prior uses of this building have inluded: Professional Office Space, Restaurant, Barber / Beauty Shop, Boutique Retail Space, Bakery and other mixed uses. As constructed now each space has its own Bathroom facility.
Each building is open designed to allow for timely build out of any size office space that will fit the footprint of the building.
Property is available for purchase prior to auction date. If you have a interest or would like to schedule a showing of this property, please contact Grady Auctions & Realty, Inc.
Central Time (US & Canada)
Auction location is 1906 McLain Street in Newport, Arkansas 72112. From the intersection of Highway 367 (Malcom Avenue) and McLain Street turn west on McLain Street and go 1/4 mile to auction site on the south side of McLain Street. Auction signs and Banners will be posted.
A 10% Buyers Commission will be charged on all real estate sold at this auction. All property is offered "As-Is / Where-Is" with no warranties expressed or implied. Property sold with NO CONTINGENCIES. Real Estate will be offered "Subject to Owner Confirmation". The beneficiaries originally wanted a Absolute Auction at this location but chose otherwise .. they are motivated sellers.
A 10% non-refundable deposit will be required the day of the auction with the balance due at closing in 45 days or less. Seller will provide 1/2 closing agent fees, 1/2 revenue stamps, 1/2 title insurance and pro-rated taxes until day of closing. Buyer is responsible for any and all other closing cost.
These are abbreviated Terms & Conditions for this auction. For complete Terms & Conditions, please click the documents tab and download complete Terms. These terms will be available the day of the auction at the sale site, too.