BANK OWNED AUCTION | INVESTMENT OPPORTUNITY

BANK OWNED PROPERTY - Operating independent full service car wash near the intersection of Spencer Highway and Strawberry Rd in Pasadena TX with excellent roadway visibility. The car wash is a single lane exterior facility including a vacuum station area with canopy. The car wash building is steel frame and concrete block construction with a stucco finish and a flat metal roof and is 2,566+/- sf. The property sits on .723+/- acres with approximately 140' of frontage on Spencer Highway and 225' depth. The building was originally built in 1979 and renovated in 2002. Car wash equipment will be sold with the real estate and includes track, vacuum lines and hoses, scrubbing units, wax applicators, drying units, office equipment and more.

Property Classification: Retail - Car Wash

Address:
3327 Spencer Highway
Pasadena, TX 77504

Directions to Property:
From East Loop 610 South, Take TX 225 E (La Porte Freeway which becomes Pasadena Freeway) Eastbound 3.2 mi. Exit at S Shaver St. Proceed South on Shaver Street 3.2 mi. Turn left at Spencer Hwy, proceed .9 miles. 3727 Spencer Hwy will be on the left one lot before Strawberry Road.

Terms of Sale:
10% Buyers Premium applies to the high bid. Property sold subject to Seller approval. No representations or warranties, expressed, written or implied by the Seller or Auctioneer. All property is being sold on an "AS-IS, WHERE-IS" basis. At the auction, $25,000 in the form of a certified check, cashier check, or personal or company check with a bank letter of guaranty must be provided at the time of registration, the high bidder is required to have a non-refundable deposit of 10% of the total purchase price ($25,000 minimum deposit required) payable immediately following the auction and a 30-day closing (Seller can make arrangements for a 2009 closing). Broker participation invited. 1031 Exchange welcome. Terms and Conditions provided prior to auction.

Auctioneer: Kendall Ray Mason, TX13644
Broker: Alan York Jones, Broker #0468490