Real Estate ONLINE AUCTION TERMS AND CONDITIONS OF SALE

PROPERTY DETAILS:

- Address: 111 North Roosevelt Ave.Piqua, Ohio 45356
- Parcel No.: Miami County N44-008020
- Sale Date: Bidding will begin closing on Tuesday, November 11th. at 3:00 p.m. with extended bidding
- Buyers Premium: 10% or $5,000 (whichever is greater)
- Deposit: $5,000.00 in certified funds
- Closing Date: On or before December 21st. 2025

BIDDING PROCESS

1. Due Diligence Required: Bidders must complete all due diligence (home inspections, appraisals, etc.) before the end of the online bidding. The Sales Contract (Memorandum of Auction Sale Agreement) contains no contingencies. This property is sold AS IS, WHERE IS, and is not subject to any financing. Please view the Sample Memorandum of Auction Sale Agreement in the documents section of the information page for any additional or auction-specific Terms.

2. Deposit and Contract Requirements: The winning bidder must execute the Memorandum of Auction Sales Agreement within 24 hours of notification of bid acceptance with an electronic signature via DocuSign. A deposit of $5,000.00 shall be made payable to Gay Smith and Associates. Deposit shall be in the form of a certified, personal, or business check. Upon successful closing of the property, this deposit shall be returned to the purchaser. If the purchaser fails to perform according to the stated terms, this deposit shall be forfeited to the seller and the auction sale terminated. Furthermore, the defaulting bidder may still be liable under Ohio Law for damages to the Seller.

3. Outbid Notification: If another bidder outbids you, you will receive an email notice so you can return and increase your bid if you so desire.

4. **Open Bidding Format**: The bidding will be open, and everyone can access the bid history during the auction.

5. **Auto-Extend Feature**: As the auction nears the end, it will auto-extend until bidding is silent for 3 minutes.

6. **Tying Bids**: If there is more than one high bid at the same level (a tying bid), the bid first submitted will be honored.

7. **Winning Bid Notification**: The high bidder will be notified via email or phone within 2 hours after the auction ends of acceptance of the high bid.

## PROPERTY INSPECTION AND CONDITION

8. **Property Inspection**: Bidders are strongly advised to physically inspect the property prior to bidding. Property showings can be arranged by contacting the auctioneer at the number provided in the listing. Virtual tours may be available for certain properties.

9. **Lead Paint Disclosure**: If a residential structure was built before 1978 on the property, the winning bidder will sign a Lead Paint Hazard Disclosure Statement (available in the documents section of the website) and waive the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based hazards inspection under Federal and Ohio law.

10. **Property Disclosure**: The winning bidder will sign the Ohio Residential Property Disclosure or Estate Exempt Disclosure if applicable.

11. **AS-IS Condition**: The property will be auctioned in an "AS-IS, WHERE-IS" condition as of the date and time of sale. Vondenhuevel Auctioneers LLC, Gay Smith/Associates Realty, nor the seller(s), their agents, employees, or representatives make any expressed or implied warranties of any kind concerning the property and this sale. Any remaining personal property left on the premises after closing shall become the property of the new owner, and the seller shall have no responsibility or liability for any items left behind.

12. **Information Disclaimer**: The information listed in materials describing the property is obtained from sources that are deemed reliable, but not guaranteed. It is the bidder's responsibility to verify all property information prior to placing any bids. The decision to purchase or not purchase the property is each bidder's sole and independent business decision. Auctioneer assumes no responsibility for the condition of the property or the performance of this Contract by any parties. Purchaser hereby warrants and represents that Auctioneer has not made any statements, representations, or warranties regarding the condition of the premises, zoning conditions, governmental requirements, or environmental matters, guarantees, or warranties of the like, upon which Purchaser has relied and which are not contained in the Contract. Vondenhuevel Auctioneers LLC shall not be responsible or liable in any way if the owner fails to honor the bid, refuses to settle, or cannot close in accordance with the Sales Contract.

## AUCTION TERMS

13. **Auctioneer Rights**: Vondenhuevel Auctioneers reserves the right to withdraw any property from sale and may cancel any auction sale prior to the start of bidding.

14. **Bidding Increments**: Bidding increments are made in amounts acceptable to the Auctioneer, who may set a minimum bidding increment as the sale progresses. Any bid may be rejected by the Auctioneer if it is merely nominal or, at his or her discretion, it may negatively affect the auction process. Auctions will be either Absolute or Reserve. If this is an Absolute Sale, the high bidder shall be the Purchaser. If this is a Reserve sale, the seller may accept or reject the high bid; however, if the bid exceeds the predetermined Reserve Price, the auction will become an Absolute auction and will be sold to the high bidder.

15. **Dispute Resolution**: In the event of a dispute between bidders, the Auctioneer in its discretion may determine the successful bidder or re-offer the property for sale.

16. **Buyer's Premium**: A Buyer's Premium in the amount of 10% of the final bid price or $5,000.00, whichever is greater, will be added to the high bid and will be due from the winning bidder. The Buyer's Premium is in addition to the winning bid. When added together with the winning bid, this figure represents the Final Contract Purchase Price to be paid by the purchaser at settlement.

## SETTLEMENT AND CLOSING

17. **Closing Timeline**: Settlement is to occur within Forty (40) calendar days of the auction sale date. The purchaser should secure any necessary financing.

18. **Jurisdiction**: By bidding at an auction, whether present or by agent, by written bid or otherwise, bidders shall be deemed to have consented to the jurisdiction of the State and Federal courts of the State of Ohio.

19. **Closing Costs**: The purchaser is responsible for the cost of all documentary stamps, transfer taxes, title insurance, recording fees, and other costs incident to settlement.

20. **Phone Bidding**: Vondenhuevel Auctioneers LLC may accept telephone bids from registered bidders. Phone bids will be placed online under "Phone Bidder".

111 North Roosevelt Ave. Piqua, Ohio

Commercial Building  

Auction ends Tuesday, November 11th. 3:00 P.M.

Register For This Auction Here

Justin Vondenhuevel CAI Auctioneer/REALTOR

Gay Smith and Associates Realty

Get Pre-Approved with great rates for this AUCTION!

Commercial Real Estate Auction - 111 North Roosevelt Ave, Piqua, Ohio

Versatile Commercial Building - Perfect for Storage, Workshop, or Small Business!

This is your opportunity to acquire affordable commercial space in Piqua with an opening bid of just $20,000! This 1,596 square foot commercial building (38' x 42') offers incredible versatility for contractors, small business owners, hobbyists, or investors seeking practical workspace at an attractive price point.

Built in 1988 with frame construction and vinyl siding, this building is in good condition and features THREE overhead doors (10' x 12' each with openers) providing excellent vehicle and equipment access. The previous owner successfully used this space to store classic cars, demonstrating the building's versatility and functionality. The open floor plan with asphalt flooring maximizes usable space and is ideal for a variety of commercial applications.

Zoned "Other Commercial Structures," this property offers flexibility for various uses including storage, workshop space, light manufacturing, contractor headquarters, or small business operations. Electric service is available throughout the building. The compact 2,134 square foot lot includes limited parking on a concrete apron in front of the building for convenient access.

Location is excellent - situated in town next to Donatos Pizza with easy street access from North Roosevelt Ave and convenient to U.S. Route 36. The established commercial area provides good visibility and accessibility for customers or suppliers. Best of all, annual property taxes are an incredibly affordable $565.54 per year, keeping your overhead manageable whether you're operating a business or holding as an investment property.

Whether you're a contractor needing equipment storage, an entrepreneur starting a business, a hobbyist wanting dedicated workshop space, or an investor seeking affordable commercial real estate, this property delivers practical features at an unbeatable opening bid. With bidding open NOW and closing November 11th, don't miss this rare opportunity to acquire versatile commercial space in Piqua!

Property Details:

• 1,596 Square Feet (38' x 42')
• Commercial Building
• Frame Construction with Vinyl Siding
• Lot Size: 2,134 Square Feet
• THREE Overhead Doors: 10' x 12' with Openers
• Asphalt Floor Throughout
• Open Floor Plan
• Electric Service Available
• One Entry Door
• Good Condition
• Zoning: Other Commercial Structures
• Annual Taxes: $565.54
• Limited Parking on Concrete Apron
• Built: 1988

Ideal Uses:

• Contractor Equipment & Material Storage
• Workshop for Hobbyists or Enthusiasts
• Classic Car Storage (previous use)
• Small Business Operations
• Light Manufacturing
• Commercial Storage Facility
• Investment Property

Auction Information:

• Opening Bid: ONLY $20,000
• Bidding: OPEN NOW
• Auction Date: Tuesday, November 11th at 3:00 P.M.
• Online Bidding Only
• 10% Buyer's Premium
• $5,000 Earnest Money Due Upon Acceptance of Offer
• 40-Day Closing

Preview Date:

• Wednesday, November 5th, Noon - 1:00 P.M.
• Additional showings by appointment

Location Highlights:

• In Town Location - Piqua, Ohio
• Next to Donatos Pizza
• Easy Street Access from North Roosevelt Ave
• Convenient to U.S. Route 36
• Established Commercial Area
• Good Visibility
• Low Annual Taxes: $565.54

Don't miss this rare opportunity to acquire affordable commercial space with excellent versatility! Bidding is open NOW. Attend our preview on November 5th or contact us to schedule a private showing.

Overview

Under Contract: No
Lot Size: 2,134 Square Feet
Building Size: 1,596 Square Feet (38' x 42')
Year Built: 1988
Property Type: Commercial
Zoning: Other Commercial Structures
Annual Taxes: $565.54
Electric: Available
Heating: None

Building Type

• Commercial Storage/Workshop

Construction

• Frame Construction
• Vinyl Siding

Access

• Three Overhead Doors: 10' x 12' with Openers
• One Entry Door
• Easy Street Access

Parking

• Limited Parking on Concrete Apron

Floor

• Asphalt Throughout

Utilities

• Electric Service

Layout

• Open Floor Plan
• No Office Space
• All Storage/Workshop Space

Condition

• Good Condition

Previous Use

• Classic Car Storage

Possession

• At Closing

Showing

• Preview: Wed Nov 5th, Noon-1 PM
• By Appointment

Financing

• Commercial Financing
• Cash