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Alex Theater Absolute Auction in Alexandria, IN

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Preview

Tuesday, January 28th
9am – 10am (ET)

Live & Online Auction

Tuesday, January 28th
10am (ET)

Auction & Registration Details

Property Address: 407 N. Harrison St., Alexandria, IN 46001

We are pleased to be able to offer the historic Alex Theater at public auction with no minimum, no reserve. The Alex Theater was recognized by the Indiana Association of Theatre Owners as the finest theatre constructed during 1950 and features a 484-seat theater room with a quaint sidewalk ticket window, concession area and 1,000 square foot 2nd floor which includes a 1-bedroom apartment and projector room.

The Alex Theater is 7,250 square feet in total with 3 parcels totaling 0.37 acres and zoned B1 (Business). Additional uses could be seen with the vision to incorporate a local theatre or stage company to allow for the advancement of the Arts in the Alexandria and the Madison County community. The B1 zoning would also allow for use as retail, professional services, restaurant, bar, offices and other special exceptions such as a church, school or private club.

Additional due diligence and information can be found below in PDF format.
Christie CP2000-ZX digital movie projector with Konica Minolta DLP Cinema 4K Lens, movie screen, sound equipment and Cretors Headliner HDL32FP popcorn machine will be offered In a separate online-only auction being held the same day, with the first lot closing at Noon.

Onsite Bidder Registration: We will be at the auction site 1 hour before the auction begins. To register to be a bidder, please bring your government issued photo ID and $5,000 deposit. You can bring an executed copy of the auction terms or will have copies there for you to review and sign. 

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 $5,000 down payment (in escrow() 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.

Address 407 & 411 N. Harrison St., Alexandria, Indiana 46001
Zoning B-1 (Business)
Parcel Numbers 48-05-13-404-175.000-022
48-05-13-404-149.000-022
48-05-13-404-177.000-022
Cause Number 48C06-1901-MF-000004
Lot Size 0.37 acre
Frontage Area 135′ on Harrison Street
Building Size 7,250 square feet (1st Floor – 6,250 SF / 2nd Floor – 1,000 SF)
Construction Type Masonry – Concrete Block & Brick
Roof Type Pitched Asphalt Shingle
Parking Lot Street Parking (Free)
Assessed Tax Value $129,300 (2019)
Annual Taxes $4,246.61 (2018 pay 2019)
Other Pertinent Data Theater currently set up with 484 seats (L – 110 / C – 264 / R – 110)
2nd floor houses the projection room and a 1 bed/1 bath apartment with an eat-in kitchen and living room.

 General Auction Terms
Required Down Payment: $5,000 cashier’s check on auction day, increased to 10% within 3 business days.
Closing Time: 30 days from date of auction.
Tax Administration: No proration.  Buyer’s 1st tax liability will be May 2020 installment..
10% Buyer’s Premium 

Licenses:  Seth Seaton: AU10900115      Auction Co: AC30900124
Cause # 48C06-1901-MF-000004

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