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Retail Properties on I-69 Detour & Ramp in Martinsville, IN

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Preview

Wednesday, May 29th
11am – 2pm

Live & Online Auction

Wednesday, June 12th
1 pm

Auction & Registration Details

Property Addresses: 1040 Morton Ave, Martinsville, IN 46151

These properties hit all the marks for car lots, restaurants, gas stations, hotels & retailers who need to keep steady traffic during the I-69 construction closure. It also hits the marks for Opportunity Zone investment groups or individual investors who are looking to take advantage of the potential for real estate appreciation after Section 6 of the I-69 project is complete. You will be less than ½ mile off I-69’s Morton Ave. interchange with 3 curb cuts, one of only a handful of properties on ALL official detour routes, Morgan County’s ONLY Opportunity Zone, Morgan Avenue is being upgraded to 4 lanes & much more.

Online Bidder Registration: All auction bidders who want to participate via our online bidding platform must be registered and approved to bid by Key Auctioneers. All bidders will be subject to fulfilling the following requirements (same as onsite bidders) prior to being approved to bid. Bidders must execute the Auction Terms. You can do so by requesting a Docusign copy of the Auction Terms by emailing info@keyauctioneers.com with your name or executing the Auction Terms in the documents below and returning them to Seth Seaton at sseaton@keyauctioneers.com, along with a copy of a Government-issued Photo ID for the individual registering.  You will be required to remit the $25,000 down payment before you will be able to bid. Deposits will be returned within 2 hours of the auction ending if you were not the winning bidder. 

For more information, see the attached due diligence documents on the property. If you have additional questions or inquiries, please contact Seth Seaton at sseaton@keyauctioneers.com or (317) 450-6469.

1010 Morton Avenue, Martinsville, Indiana 46151
Zoning B3 – General Business
Parcel Number 55-13-08-230-022.100-021
Lot Size 0.73 acre
Frontage Area 158′ +/- on Morton Ave. (Hwy 39)
Building Size 4,268 square feet
Construction Type Wood Framed
Roof Type Pitched Asphalt Shingle
Year Built 1970
HVAC Type Central Air/Forced Air Heat
Parking Lot Paved Asphalt / 34 marked spaces
Assessed Tax Value $295,600 (2018)
Annual Taxes $5,506.02 (2018 pay 2019)
Other Pertinent Data 2 curb cuts on Morton Ave. (Hwy 39)
Two of only a few properties on ALL 3 IN-37/I-69 closure detours.
Only 1/2 mile from I-69 Morton Ave. interchange.
*** Located in Morgan County’s ONLY Opportunity Zone for Opportunity Funds ***
   
1040 Morton Avenue, Martinsville, Indiana 46151
Zoning B3 – General Business
Parcel Number 55-13-08-230-023.100-021
Lot Size 0.325 acre
Frontage Area 80′ +/- on Morton Ave. (Hwy 39) / 170′ +/- on McDaniels Rd.
Building Size 600 square feet
Construction Type Wood Framed
Roof Type Pitched Asphalt Shingle
Year Built 1974
HVAC Type No permanent / 2 window-units
Parking Lot Gravel
Assessed Tax Value $60,500 (2018)
Annual Taxes $1,126.92 (2018 pay 2019)
Other Pertinent Data Corner Lot with access from McDaniel Rd. & 1010 Morton Ave.

 General Auction Terms
Required Down Payment: $25,000 cashier’s check on auction day (or wired to be approved online), brought up to 10% within 3 business days.
Deposit Return Policy for Non-Winning Bidders: Deposit returns will be initiated via ACH within 2 hours of the end of the auction in addition to an confirmation email. 

Closing Time: 30 days after auction (July 12, 2019).
Tax Administration: Prorated to date of closing.
10% Buyer’s Premium 

Licenses:  Seth Seaton: AU10900115      Auction Co: AC30900124
Seller: Kevin VanMeter

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