Wright County, MN

Lender Owned - Prime Small Acreage Commercial Lots . Minimum Bid Only $1 PSF

Great River Centre - Highway 101 & County Road 39
Otsego, MN 55330

17 Acres M/L
AUCTION

Listing #15834

Bid Now!

PROPERTY INFO

Description

Peoples Company is pleased to offer a public online auction of 4 Lender Owned Commercial Lots with Highway 101 visibility. Offering 17 m/l total acres, with lots ranging from 2- 7 acres, in the Great River Centre of Otsego. Lots are zoned for retail and mixed-use development. Prime location with the development anchored by a Super Target and excellent Highway 101 visibility. This is Minimum Bid Auction. The highest bidder over $1.00 a sq ft will be the new owner. 

Tract 1:

This 5.14 acres m/l commercial lot is located just South of Super Target and Coburn's Grocery Store. Tract 1 boasts 225 feet of street frontage along Parrish Avenue and 510 feet of street frontage along 85th Street NE. This 5.14 Acre m/l lot has an estimated county market value of  $447,800.00 and will be SOLD to the highest bidder that bids over $223,962. Tract 1 is located in a prime location with the heaviest traffic in the Otsego area.

P.I.D. #118-252-002010
Section 22, Township 121, Range 23, Lot 1, Block 2 Great River Centre 2nd
5.14 Acres m/l
223,962  sq ft.

Tract 2 :

Tract 2 is located along 87th St NE and the estimated county market value on this 2 acre m/l lot is $228,700.00 and will be SOLD to the highest bidder that bids over $86,905.00. Located just blocks from the new Coburn's Grocery Store and adjacent to the Village Apartment Complex. There are 242 feet or road frontage along 87th St NE available.

P.I.D # 118-338-000010
Section 22, Township 121, Range 23, Outlot A, Great River Centre 2nd
2 Acres m/l
86,905 sq ft

Tract 3:

Tract 3 consists of 2.7 acres m/l and is located adjacent to the Village Apartment Complex  and features excellent Highway 101 visibility. This tract has 290 feet of road frontage along 87th St NE/Quaday Avenue NE and has an estimated county value of $237,100.00 and will be SOLD to the highest bidder that bids over $118,574.00.

P.I.D. #118-252-003020
Section 22, Township 121, Range 23, Block 3, Great River Centre 2nd
2.7 Acres m/l
118,574 sq ft 

Tract 4:

Tract 4 consists of 7.3 acres m/l and features great Highway 101 visibility with easy access available off of Quaday Avenue NE. This tract boasts an estimated county average of over a half a million dollars and will be SOLD to the highest bidder that bids over $320,277.00.

P.I.D. #118-239-000090
Section 23, Township 121, Range 23, Outlot I, Great River Centre
7.3 Acres m/l
320,277 sq ft

Legal Description

See individual tract for legal description. 

Details

 

 

  • Sign On Property: Yes
  • Parcel Number: Multiple
  • School District: 0728 Elk River
  • Online Bidding: Yes
  • Auction Date: Jan 19, 2022
  • Terms: 5% Buyers Premium

Directions

All four lots are located in the Great River Centre near Highway 101 & County Road 39 in Otsego, MN. Watch for Peoples Company signs.

Additional Info

The City of Otsego is located 33 miles from downtown Minneapolis and is optimally located on the major travel corridors of Interstate 94, U.S Highway 10, U.S. Highway 169, and Minnesota Highway 101. With the City encompassing 30 square miles, there are many prime locations available for all types of development including residential, commercial, and industrial.

In addition to attracting new development, the City’s elected officials and staff understand the value of supporting our existing business sector and are here to assist in your growth and expansion within the community. 

Brief Community Profile

  • Population: 18,130 (Minnesota State Demographer as of 4-1-2019)
  • Households: 6,254 (Minnesota State Demographer as of 4-1-2019)
  • Median Home Value: $258,455 (Wright County Assessor)
  • Median Age: 34.3 (American Community Survey, 2019)
  • Median Household Income: $105,290 (American Community Survey, 2019)
  • Percentage of High School Graduates: 97.9% (American Community Survey, 2010)

*above information gathered from  https://www.ci.otsego.mn.us/  City of Otsego 


Bid Online

Auction Details

Auction Details:

This is a 'Minimum Bid' Auction with all Tracts being sold to the highest bidder that bids over $1.00 per sq ft. 

Opening Bid per Tract will reflect the sq ft amount.

How to Bid?
Open up the Peoples Company auction you are interested in at PeoplesCompany.com. Click on any of the BID NOW icons within that auction. This will take you to our Online Bidding platform. Find the auction you wish to participate in and open it up. To participate in that auction click REGISTER TO BID. From there you will need to create a bidder account. Once that is created you are able to bid on any of our Online Auctions.

Co-Broker: 
Co-Broker must register client 24 hours prior to the Auction date by filling out our Broker Registration Form.

Buyer’s Premium: A five percent (5%) Buyer’s Premium will be added to the final bid price and included in the total purchase price.

Auction Method: Property will be offered as four individual tracts. All bids will be on a lump sum amount for that tract. A bid placed within 3 minutes of the scheduled close of the auction will extend bidding by 3 minutes until all bidding is completed. All 4 tracts will be tied together for the auction closing. If there is a bid on any one of the 4 tracts in the last three minutes all tracts bidding period will extend for 3 minutes. This will continue until there is no increase in bids on any of the 4 tracts for a period of 3 minutes. If you plan to bid, please register 24 hours prior to close of auction. Under no circumstances shall Bidder have any kind of claim against Peoples Company or its affiliates if the Internet service fails to work correctly before or during the auction. 

Earnest Money Payment: A 10% earnest money payment is required on the day of the auction. The earnest money payment may be paid in the form of cash or check. All funds will be held in Custom Home Builders Title Company Trust Account.

Closing: Closing will occur on or about Monday, March 1, 2022. The balance of the purchase price will be payable at closing in the form of guaranteed check or wire transfer.

Possession: Possession of the property will be given at Closing,

Contract & Title: Immediately upon conclusion of the auction, the high bidder will enter into a real estate sales contract and deposit with Custom Home Builders Title Company, LLC the required earnest money payment. The Seller will provide a owner’s policy at their expense. Auction is not contingent upon Buyer obtaining financing. Buyer to be provided a limited warranty deed upon closing. Buyer acknowledges they have reviewed the preliminary title work. Seller to provided clear and marketable title.

Bidder Registration: All prospective bidders must register with Peoples Company and receive a bidder number to bid at the auction.

Other: This sale is subject to all easements, covenants, leases, and restrictions of record. All property is sold on an “As is – Where is” basis with no warranties, expressed or implied, made by the Auctioneer, Peoples Company or Seller. Peoples Company and its representatives are agents of the Seller. Winning bidder acknowledges that they are representing themselves in completing the auction sales transaction. Any announcements made auction day by the Auctioneer or Listing Agents will take precedence over all previous marketing material or oral statements. Bidding increments are at the sole discretion of the Auction Company.

Disclaimer: All field boundaries are presumed to be accurate according to the best available information and knowledge of the Seller and Peoples Company. Overall tract acres, tillable acres, etc. may vary from figures stated within the marketing material. Buyer should perform his/her own investigation of the property prior to bidding during the auction. The brief legal descriptions in the marketing material should not be used in legal documents. Full legal descriptions will be taken from Owner's Policy.

Location


Tract 1 - Unassigned Parrish Ave NE, , Otsego, MN 55330

Description

ALL BIDS WILL BE ON A PRICE PER SQUARE FOOT BASIS. THE MULTIPLIER WILL BE THE TOTAL PRICE BID MULTIPLIED BY THE TOTAL SQUARE FEET OF THE TRACT TO EQUAL THE REALIZED PRICE.

Buyer’s Premium: A five percent (5%) Buyer’s Premium will be added to the final bid price and included in the total purchase price.

Tract 1 - 223,962 Square Feet M/L

This 5.14 acres m/l commercial lot is located just South of Super Target and Coburn's Grocery Store. Tract 1 boasts 225 feet of street frontage along Parrish Avenue and 510 feet of street frontage along 85th Street NE. This 5.14 Acre m/l lot has an estimated county market value of  $447,800.00 and will be SOLD to the highest bidder that bids over $223,962. Tract 1 is located in a prime location with the heaviest traffic in the Otsego area.

P.I.D #118-252-002010
Section 22, Township 121, Range 23, Lot 1,Block 2 Great River Centre 2nd
Lot Size 223,962 sq ft m/l
5.14 m/l Acres
Taxes 2021 $14,452
Zoning : Commercial
Easements; Normal road, drainage, and utility easement

Legal Description:

Section 22, Township 121, Range 23, Lot 1, Block 2 Great River Centre 2nd. Complete exact legal to be verified by the closing company.

Details:

  • Acres: 5.14 Acres M/L
  • Parcel Number: 118--252-002010
  • School District: 0728 Elk River

Directions:

From the intersection of Highway 39 and Highway 101 in Otsego, travel south on Highway 42 (Parrish Ave NE) and the property will be located on the corner of Parrish Avenue NE and 85th Street NE. Watch for Peoples Company signs.

Legal Description

Section 22, Township 121, Range 23, Lot 1, Block 2 Great River Centre 2nd. Complete exact legal to be verified by the closing company.

Details
  • Acres: 5.14 Acres M/L
  • Parcel Number: 118--252-002010
  • School District: 0728 Elk River

Directions

From Highway 39 / Interstate 101 in Otsego,  go South on Highway 42 (Parrish Ave NE) then the property will be on the east side of the road. Look for company signs.


Tract 2 - Unassigned 87th Street NE , Otsego, MN 55330

Description

ALL BIDS WILL BE ON A PRICE PER SQUARE FOOT BASIS. THE MULTIPLIER WILL BE THE TOTAL PRICE BID MULTIPLIED BY THE TOTAL SQUARE FEET OF THE TRACT TO EQUAL THE REALIZED PRICE.

Buyer’s Premium: A five percent (5%) Buyer’s Premium will be added to the final bid price and included in the total purchase price.

Tract 2 - 86,905 Square Feet M/L

This 5.14 acres m/l commercial lot is located just South of Super Target and Coburn's Grocery Store. Tract 1 boasts 225 feet of street frontage along Parrish Avenue and 510 feet of street frontage along 85th Street NE. This 5.14 Acre m/l lot has an estimated county market value of  $447,800.00 and will be SOLD to the highest bidder that bids over $223,962. Tract 1 is located in a prime location with the heaviest traffic in the Otsego area.


P.I.D. # R118-338-000010
Section 22. Township 121, Range 23, Outlot A, Great River Centre
Lot Size  86,905 sq ft
Taxes 2021 $5,860
Zoning: Commercial
Easements; Normal road, drainage and utility easements

Legal Description

P.I.D #118-338-000010. Section 22, Township 121, Range 23, Outlot A, Great River Centre 2nd. Complete legal description to be verified by closing company.

Details

  • Acres: 2.00 Acres M/L
  • Parcel Number: 118-338-000010
  • School District: 0728 Elk River

 

Directions:

From County Road 39 and Highway 101 in Otsego take Parrish Ave NE (Highway 42) south to 87th Street NE and turn east. This tract is located on the south side of 87th ST NE. Look for Peoples Company signs.

Legal Description

P.I.D #118-338-000010. Section 22, Township 121, Range 23, Outlot A, Great River Centre 2nd. Complete legal description to be verified by closing company.

Details
  • Acres: 2.00 Acres M/L
  • Parcel Number: 118-338-000010
  • School District: 0728 Elk River

Directions

From County Road 39 and Highway 101 in Otsego take Highway 42 South (Parrish Ave NE), go east on 87th Street NE. The land is located on the south side of 87th ST NE. Look for company signs.


Tract 3 - Unassigned 87th Street NE, Otsego, MN 55330

Description

ALL BIDS WILL BE ON A PRICE PER SQUARE FOOT BASIS. THE MULTIPLIER WILL BE THE TOTAL PRICE BID MULTIPLIED BY THE TOTAL SQUARE FEET OF THE TRACT TO EQUAL THE REALIZED PRICE.

Buyer’s Premium: A five percent (5%) Buyer’s Premium will be added to the final bid price and included in the total purchase price.

Tract 3 - 118,574 Square Feet M/L

Tract 3 consists of 2.7 acres m/l and is located adjacent to the Village Apartment Complex  and features excellent Highway 101 visibility. This tract has 290 feet of road frontage along 87th St NE/Quaday Avenue NE and has an estimated county value of $237,100.00 and will be SOLD to the highest bidder that bids over $118,574.00.


P.I.D #R 118-252-003020
Section 22, Township 121, Range 23, Lot 2 ,Block 3, Great River Centre 2nd
Lot Size: 118,574 sq ft
Taxes 2021 $7,652
Zoning: Commercial
Easements; Normal road, drainage, and utility easements

Legal Description:

P.I.D #118-252-003020. Section 22, Township 121, Range 23, Lot 2 , Block 3, Great River Centre 2nd. Complete /exact legal to be verified by the closing company.

Details:

  • Acres: 2.70 Acres M/L
  • Parcel Number: 118-252-003020
  • School District: 0728 Elk River
  • Net Taxes: $7,652.00

Directions:

From County Road 39 and Highway 101 in Otsego, take Highway 42 South (Parrish Ave NE)  to East on 87th Street NE. The land is located on the south side of  87th ST NE. Look for company signs.

Legal Description

P.I.D #118-252-003020. Section 22, Township 121, Range 23, Lot 2 , Block 3, Great River Centre 2nd. Complete /exact legal to be verified by the closing company.

Details
  • Acres: 2.70 Acres M/L
  • Parcel Number: 118-252-003020
  • School District: 0728 Elk River
  • Net Taxes: $7,652.00

Directions

From County Road 39 and Highway 101 in Otsego take Highway 42 South (Parrish Ave NE)  to East on 87th Street NE. The land is located on the south side of  87th ST NE. Look for company signs.


Tract 4 - Unassigned Quaday Ave NE, Otsego, MN 55330

Description

ALL BIDS WILL BE ON A PRICE PER SQUARE FOOT BASIS. THE MULTIPLIER WILL BE THE TOTAL PRICE BID MULTIPLIED BY THE TOTAL SQUARE FEET OF THE TRACT TO EQUAL THE REALIZED PRICE.

Buyer’s Premium: A five percent (5%) Buyer’s Premium will be added to the final bid price and included in the total purchase price.

Tract 4 - 320,277 Square Feet M/L

Tract 4 consists of 7 acres m/l and features great Highway 101 visibility with easy access available off of Quaday Avenue NE. This tract boasts an estimated county average of over a half a million dollars and will be SOLD to the highest bidder that bids over $320,277.00.


P.I.D. # R 118-239-000090
Section 23. Township 121, Range 23, Outlot I, Great River Centre
Lot Size 320,277 sq ft
Taxes 2021 $ $16,734
Zoning: Commercial, Zoning: PUD; Planned Unit Development District 
Easements; Normal road, drainage and utility easements

Legal Description:

Outlot I. Complete legal description to be verified by the closing company.

Details:

  • Acres: 7.30 Acres M/L
  • Parcel Number: 118-239-000090
  • School District: 0728 Elk River

Directions:

From County Road 39 and Highway 101 in Otsego, take Highway 42 South (Parrish Ave NE) to 87th Street NE and turn east onto 87th Street NE. This tract is located on the corner of Quaday Ave NE and 87th ST NE. Look for Peoples Company signs.

Legal Description

Outlot I. Complete legal description to be verified by the closing company.

Details
  • Acres: 7.30 Acres M/L
  • Parcel Number: 118-239-000090
  • School District: 0728 Elk River

Directions

From County Road 39 and Highway 101 in Otsego take Highway 42 South (Parrish Ave NE)  to East on 87th Street NE. The land is located on the corner of Quaday Ave NE and 87th ST NE. Look for company signs.


INTERACTIVE MAP

Use the Interactive Map to explore the property's regional location. Zoom in and out to see the property's surroundings and toggle various mapping layers on and off in the Map Layer Menu.

DRONE VIDEO

Click the “play” button below to watch an aerial drone video of this property.

ATTACHMENTS

PHOTOS

Tract 1 Photos

Tract 2 Photos

Tract 3 Photos

Tract 4 Photos