Auction Note

**CLICK HERE TO REGISTER & BID FREE ONLINE!!** ONLINE ONLY COMMERCIAL AUCTION Two Commercial Buildings - Ashley, ND Opens: Friday, September 10, 2021 – 8:00 a.m. (CT) Closes: Tuesday, September 14, 2021 – 12:00 p.m. (CT)   Auction Note: This auction features two buildings and two United States Government tenants.  This is a fantastic opportunity to buy strong income producing properties with the United States Postal Service (USPS) leasing one building and United States Department of Ag (USDA) leasing the other building.  Both have long standing tenant lease agreements in place.   Contact:  Steve Link at 701.361.9985.     Parcel 1 - USPS Building Address: 110 Main St. - Ashley, ND 58413 Legal:  W5’ of Lot 11: Lot 12-13; Block 13 (Post Office), City of Ashley, McIntosh County, ND Parcel ID: 07110000 Lot Size:  6,786 sq. ft. Building Size: 1,921 sq. ft. This property is offered on a Pifer’s Online Only Auction and is a “As Is, Where Is” commercial property sale.  The USPS is in a 15-year term lease agreement, 5 years at the current rate and two (2) 5-year extensions at new rates. The lease agreement and buyer will be assigned said lease.  The USPS pays rent and takes care of utilities and the owner takes care of the real estate taxes, repairs, and upkeep to the property.  The building is in downtown Ashley with a parking lot and street parking and loading access in the back.   The building features a 1 story brick and cement block building that has been well taken care of.   USPS Lease Rate Effective Date              Expiration Date         Per Annum Rental       09/01/2021                 08/31/2026                          $16,330.00    09/01/2026                 08/31/2031                          $17,147.00    09/01/2031                 08/31/2036                          $18,004.00       Parcel 2 - USDA Building Address: 118 Main St. - Ashley, ND 58413 Legal:  Lots 8-9-10 & 11 Less W5’; Block 13 (Federal Office), City of Ashley, McIntosh County, ND Parcel ID: 07109000 Lot Size: 13,300 sq. ft. Building Size: 6,240 sq. ft. Year Built: 1989 This property is offered on a Pifer’s Online Only Auction and is a “As Is, Where Is” commercial property sale.  The USDA is in a 3-year term lease agreement that will be assigned to the buyers.  The building is in downtown Ashley with a parking lot and street parking as well as a leased lot across main street.   USDA Lease Rate                                      2021                     2020             2019                2018 Total Rent                   $61,812          $52,850.91    $52,852.60       $52,842.27 Total Expenses          NA                  $38,276.09    $36,061.48       $34,133.73 Net Income                 NA                  $14,574.82    $16,791.12       $18,708.54            OWNERS:  South Central Investors Inc.