Auction Details

This is an Online Only Sealed Bid Auction.  You must be registered and approved in order to bid.  Once you register to bid, we will send you the requirements and registration documents for you to complete, sign and return to us.  We will then email you approval to bid.  Bidders must register by July 28, 2009.  Bidding will end July 30, 2009.  TO REGISTER TO BID, CLICK THE LINK BELOW:

http://www.auctionbluesky.com/online-auctions.php

The University of MS Medical Center has announced the new building of a new 50,575sf $14M Medical/Office building just 1 mile from the subject property to be completed in the 2nd quarter of 2010.  The link is below to the news release.

http://www.umc.edu/news/campus_news_three.html

Another article with regard to the new Medical Center on the other side of the WalMart Supercenter from the subject property:

http://www.clarionledger.com/apps/pbcs.dll/article?AID=2009906300344

The subject property is zoned C3 and the new liquor referendum positively affects this property, clearing the way for restaurants or hotels able to serve liquor by the glass.  This property is prime for an upscale, white tablecloth establishment.  See the Clarion Ledger article below:

http://www.clarionledger.com/apps/pbcs.dll/article?AID=2009907080360

For Comparible Sales:  The AutoZone property and the Dairy Queen property both sold in 2007 for $15.00sf.  The C-store property beside subject property lot 7 sold in 2007 for $17.50sf.  And the BankFirst property on the corner of BankFirst Dr. and Wertz Rd., which is beside subject property lot 7 sold in 2005 for $12.00sf.  All of those sales were before the new liquor referendum and long before the just announced UMC Medical Center to be built just on the other side of the WalMart.  This property has just increased greatly in value and should prove to be a tremendously successful investment.

Interested parties need to be aware that there is a 20 year assessment that will run with this land from the City of Flowood for improvements for Wertz Rd.  It is the understanding of the Auction Company that this assessment is to be $1,000.00 per acre, per year for 20 years.  The contact person for information with regard to this assessment would be:  The City of Flowood Law Firm, Watson & Jones, P. A., P. O. Box 23546, Suite 1502, Mirror Lake Plaza, 2829 Lakeland Dr., Jackson, MS  39255-3546.  Phone is 601.939.8900 and the contact person is Elizabeth Mills Boone, Attorney at Law.  Anyone doing their Due Diligence can contact MS. Boone for further information.