401 E Douglas Ave Wichita, KS 67202

Listing details for 401 E Douglas Ave, Wichita, KS 67202 : ONSITE REAL ESTATE AUCTION ON MARCH 3RD AT 12 P.M. NO MINIMUM, NO RESERVE!!! Fantastic opportunity to purchase this 60,000+ SF, 5 Story Commerce Plaza building in Downtown Wichita at 401 E. Douglas at Absolute Auction. Also offering parking lots at 420 and 422 E. Douglas Ave (with 27 spaces) as separate and together with the Commerce Plaza Building. This building was built in 1932 and had a major remodel in the 70's. This building is a former Montgomery Ward building from 1932 until approximately 1968. Nice multipurpose building and with minimal renovations to the building (mostly paint and carpet), could be maintained as a Class C office space with ground floor retail. The building was previously leased at an approx. avg of $8.00 per SF for the lower level office space, $9.00 per SF for the upper level office space and $11.00 per SF for the ground floor retail space. (Previous rent rolls are included in the Property Information Packet.) Based on the rent roll provided, the total leasable SF is appx. 58,000. The main floor retail and office space had a photography business in the NE corner. The main floor retail space could be reconfigured. It also features a club with small kitchen area. There is a dock high loading dock and a freight elevator servicing all floors. The 2nd floor features a very large office suite most currently used as a call center and political office with built-in cubicles as well as private offices and large reception area and break room. The 3rd floor has a large office suite and internal staircase to 2nd story. This floor is ready to occupy with minimal work. It features a large entryway, large conference room and wet bar area with stainless sink. Very large open span area in the middle of the floor with private offices on all exterior walls as well as private bathroom facilities. 19 total private offices, kitchen and break room. There is also an equipment and file room. The 4th floor has a large office suite, conference room and multipurpose area easily configured into multiple separate office suites. 5th floor consists of approximately 6 different office suites varying in size from one single office to multiple office suites with reception areas and private offices. Also has a nice kitchen/break room with built-in sink, dishwasher and ice maker. The bsmt features a boiler room and mechanical monitoring system for CH/CA. The gas fired boiler and electrical were updated in the late '70s. Updated sump pump system. *This Property is offered in its present condition and is accepted by the buyer(s) without any expressed or implied warranties or representations from the seller(s) or his(her) agent(s). It is incumbent upon the buyer(s) to exercise his(her) own due diligence, investigation, and use suitability, prior to bidding on this property. It is the responsibility of the prospective purchaser(s) to have any and all inspections completed prior to the auction day including, but not limited to, roof, structure, termite, environmental, survey, encroachments, groundwater, flood designation, zoning designation, school zone designation, existence of any code violations, drainage, presence of lead-based paint and/or lead-based paint hazards, presence of radon, presence of asbestos, presence of mold, electrical, appliances, heating, air conditioning, mechanical, plumbing (to include water well, septic, or lagoon compliance) and any other desired inspections, if any. Information given is from sources deemed reliable but NOT guaranteed by the seller(s) or the Realtor(s) /Auctioneer(s). Announcements made the day of the auction shall take precedence over anything previously stated or printed. There will be a 10% Buyers Premium (minimum $1,000) added to the high bid price to arrive at the final contract price. This property will be available for viewing by scheduled appointment and will be open two hours prior to the real estate auction. The earnest money amount due at the auction from the high bidder is $35,000.