315.10924 614brochure
User Manual: 315.10924
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knight enterprises
directs sealed bid sale
MICHIGAN, OHIO & ILLINOIS
56 GAS STATIONS & COMMERCIAL PROPERTIES
BID DEADLINE: DECEMBER 14, 2006
800.747.3342, ext. 614
www.nrc.com/614
operating gas stations
with c-stores
closed gas stations
vacant lots
strip shopping center
800.747.3342, ext. 6142 |GENERAL INFORMATION
HOW-TO-BID SEMINAR®
Thursday, November 16, 2006 |Dearborn, MI |Location to be announced
The seminar begins promptly at 8:30am and is expected to conclude by 11am. Doors will be closed to late arrivals.
GENERAL INFORMATION
Knight Enterprises, Inc., (“Seller”) is offering to sell its interest in 56
properties comprised of operating and closed gasoline stations, a
commercial shopping center, a closed restaurant site and commercial
land parcels located in Illinois, Michigan and Ohio (the “Properties”) by
sealed-bid on Thursday, December 14, 2006. NRC Realty Advisors, LLC
(“NRC”) is coordinating the offering for the Seller.
COMMERCIAL SITES
Some commercial sites in this sale list minimum price information. Seller
will sell each of these sites absolute at or over the minimum price listed,
subject to the terms and conditions contained herein.
PROPERTY INFORMATION
NRC has prepared a due diligence package called a Property Specific
Package (“PSP”), for the properties. The PSP contains site description
information, gross merchandise sales, gas volumes and other available
information, as applicable.
TO ORDER PSP BOOKS
Bidders can order PSPs on the www.nrc.com/614 Web site, by faxing a
completed PSP order form (available for download on the Web site) to
NRC at 312.278.6900 or by calling the NRC Customer Service Center
at 800.747.3342, ext. 614. PSPs are available at a cost of $35 per hard
copy and $25 per CD-ROM (including 2-day shipping) and may be
purchased on the www.nrc.com/614 Web site or by Visa, MasterCard,
American Express or Discover for faxed and telephone orders.
BIDDING INSTRUCTIONS AND PURCHASE AGREEMENTS
All offers are subject to the Terms and Conditions of Sale located on
page 19 of this brochure, in the PSP and in the Purchase and Sale
Agreement. NRC will provide bidding instructions and the Purchase
and Sale Agreement (“PSA”), to be returned to NRC with the bid, to all
prospects who have ordered PSPs.
SITE INSPECTIONS
Properties may be inspected during normal business hours. The store
managers and employees have been instructed to refer any buyer
questions directly to NRC. UNDER NO CIRCUMSTANCES MAY
BIDDERS ASK QUESTIONS OF STORE MANAGERS OR STORE
EMPLOYEES. BIDDERS VIOLATING THIS REQUIREMENT WILL BE
DISQUALIFIED FROM BIDDING.
SALES FORMAT
Properties will be sold “as-is, where-is with all faults”. Buyers must submit
with their bid a cashiers or certified check equal to 2.5% of the bid
amount or $10,000, whichever is greater, made payable to NRC Realty
Advisors, LLC. Within two (2) business days of written notification from
NRC of Seller’s acceptance of the bid, Buyers must increase the Bid
Deposit to 10% of the bid amount. NRC will return bid deposits from
nonconforming or rejected bids by certified mail approximately ten (10)
days after the Bid Deadline.
BUYERS PREMIUM
The buyer shall pay, in addition to the Purchase Price, an amount equal
to 2% of the Purchase Price at closing.
COOPERATING BROKERS
A fee equal to 1% of the gross selling price of each property will be
paid by NRC upon the closing of escrow of the sale of such property
pursuant to the Purchase and Sale Agreement to any licensed broker or
agent whose registered prospect consummates the sale. For purposes of
calculating such fee, the gross selling price shall not include any amounts
paid for inventory and/or supplies. Brokers must register their prospect(s)
with NRC no less than three (3) days prior to the Bid Deadline by
completing a Broker Registration Form obtained from NRC and returning
the completed form to NRC at 312.278.6900, referencing Sale 614. No
commissions will be paid for any prospect previously contacted by NRC.
No commissions will be paid on any property to brokers participating in
the purchase of the property, and an affidavit may be required stating
that the broker is acting solely as broker and not as purchaser. NO
OTHER FORM OR ORAL REGISTRATION IS PERMITTED.
DISCLAIMER
Although information has been obtained from sources deemed
reliable, NRC Realty Advisors, LLC, the Seller and/or its
representatives, brokers or agents make no guarantees as to the
accuracy of the information obtained herein, and offer the Property
without expressed or implied warranty of any kind. Property may be
withdrawn at any time without notice.
This sale is being conducted in conjunction with Larry Norris of
Michigan Real Estate Services, a licensed Michigan real estate broker,
and Tanya Woodford of Woodford Contemporary Real Estate, a
licensed Ohio real estate broker.
www.nrc.com/614 |3SITE LIST & gas stations MICHIGAN
Site 035 |Allen Park, MI
Address: 19333 Van Born Road Cross Streets: Van Born & Pelham
County: Wayne Status: Operating
Type: Lease Lease Exp: 8/30/2016
Lease Options: One 10-Year Mo Rent: $2,000
Lot Size: 22,000 sf Building Size: 1,484 sf
Mo Gallons Sold: 44,383 Mo Diesel Gallons: 6,064
Mo Store Sales: Not available Year Built: 1971
Zoning: G-1
Location Description: With two major freeways, I-94 and the Southfield, less than one-half mile away,
this property enjoys steady traffic along busy Van Born Road. A generous mix of both residences and
businesses are nearby. This site is being re-branded to Valero.
Site 320 |Canton, MI
Address: 40200 Michigan Avenue Cross Streets: Michigan & S Lotz (I-275)
County: Wayne Status: Operating
Type: Fee Lot Size: 5.84 ac
Building Size: 4,000 sf Mo Gallons Sold: 114,666
Mo Diesel Gallons: 4,232 Mo Store Sales: Not available
Year Built: 2004 Zoning: C-3
Tenant: Arby’s Tenant Mo Rent: $2,298.62
Tenant Lease Exp: 2/28/2021 Tenant Options to Renew: Four 5-Year
Location Description: Located along a busy section of Michigan Avenue just blocks away from the I-275
exit, this property receives continuous traffic throughout the day. Dozens of stores, restaurants, hotels, and
businesses line Michigan Avenue, in the immediate area. Land includes the adjacent Arby’s.
OPERATING AND CLOSED GAS STATIONS
Site Address City, State Page
035 19333 Van Born Road Allen Park, MI 03
320 40200 Michigan Avenue Canton, MI 03
031 41350 Ford Road Canton, MI 04
341 34975 Harper Avenue Clinton Township, MI 04
323 24045 W Warren Street Dearborn Heights, MI 04
312 8438 N Telegraph Road Dearborn Heights, MI 04
311 11694 Greenfield Road Detroit, MI 05
318 15440 Schoolcraft Street Detroit, MI 05
316 15464 Livernois Avenue Detroit, MI 05
321 16951 Telegraph Road Detroit, MI 05
616 6134 Van Dyke Street Detroit, MI 06
565 6401 W 8 Mile Road Detroit, MI 06
007 31233 Grand River Avenue Farmington, MI 06
326 29370 W 12 Mile Road Farmington Hills, MI 06
313 29510 Orchard Lake Road Farmington Hills, MI 07
010 38030 W 10 Mile Road Farmington Hills, MI 07
078 3325 Owen Road Fenton, MI 07
418 G 4005 Clio Road Flint, MI 07
369 G 5145 Miller Road Flint, MI 08
317 G 5277 Corunna Road Flint, MI 08
070 206 N James Street Grayling, MI 08
080 9400 W Lake City Road Houghton Lake, MI 08
345 9469 W Lake City Road Houghton Lake, MI 09
072 3501 Page Avenue Jackson, MI 09
303 29230 5 Mile Road Livonia, MI 09
038 33375 8 Mile Road Livonia, MI 09
006 25810 Schoolcraft Street Redford, MI 10
043 2689 W Federal Highway Roscommon, MI 10
027 28005 Gratiot Avenue Roseville, MI 10
073 2811 S Washington Avenue Saginaw, MI 10
309 23640 W 8 Mile Road Southfield, MI 11
OPERATING AND CLOSED GAS STATIONS (CONT.)
Site Address City, State Page
005 24722 Southfield Road Southfield, MI 11
308 29009 Northwestern Highway Southfield, MI 11
315 10924 Telegraph Road Taylor, MI 11
365 24991 Groesbeck Highway Warren, MI 12
362 32900 Mound Road Warren, MI 12
442 317 N Washington Street Ypsilanti, MI 12
081 1303 N Main Street Marion, OH 12
507 6027 State Route 95 Mount Gilead, OH 13
379 7225 E State Route 37 Sunbury, OH 13
COMMERCIAL PROPERTIES
Site Address City, State Page
601*1521 N Eaton Street Albion, MI 14
603*I-94 & N Eaton Street Albion, MI 14
602*1503 N Eaton Street Albion, MI 14
604 301 Austin Avenue Albion, MI 15
612 352 Van Buren Street W Battle Creek, MI 15
616 6134 Van Dyke Street Detroit, MI 15
610 W 4 Mile Road & I-75 Grayling, MI 15
609 117 W Stockbridge Avenue Kalamazoo, MI 16
605 27410 Joy Road Livonia, MI 16
618 35 Mary Street Mount Clemens, MI 16
608 1445 N Gettysburg Avenue Dayton, OH 16
614 2108 E 3rd Street Dayton, OH 17
611 3525 W 3rd Street Dayton, OH 17
615 530 W Vine Street Lima, OH 17
606 323 N Verity Parkway Middletown, OH 17
607 1201 Miami Street Toledo, OH 18
613 1717 N State Street Westville, IL 18
* Strip shopping center and adjacent properties
800.747.3342, ext. 6144 |gas stations MICHIGAN
Site 031 |Canton, MI
Address: 41350 Ford Road Cross Streets: Ford & N Haggerty (I-275)
County: Wayne Status: Operating
Type: Fee Lot Size: 39,250 sf
Building Size: 1,800 sf Mo Gallons Sold: 84,425
Mo Diesel Gallons: 12,773 Mo Store Sales: $46,188
Mo Add’l Revenue: $9,110 (lottery) + $605 (ATM) Year Built: 1985
Zoning: C-4
Location Description: Less than two blocks west of I-275, this property is located on busy Ford Road,
among dozens of restaurants, banks, hotels and professional offices. Its eight dispensers attest
to the heavy traffic volume, and its 24/7 operations take full advantage of the area’s continuous
commuting patterns. This site is being re-branded to Valero.
Site 341 |Clinton Township, MI
Address: 34975 Harper Avenue Cross Streets: Harper & 15 Mile
County: Macomb Status: Operating
Type: Fee Lot Size: 19,050 sf
Building Size: 1,500 sf Mo Gallons Sold: 90,233
Mo Diesel Gallons: 8,497 Mo Store Sales: Not available
Year Built: 1984 Zoning: C-1
Location Description: Strategically located just one block from the I-94 exit at the corner of Harper Avenue
and 15 Mile Road, this is a high volume producer that presents generous cash flow opportunities.
This site is being re-branded to Valero.
Site 323 | Dearborn Heights, MI
Address: 24045 W Warren Street Cross Streets: W Warren & N Telegraph
County: Wayne Status: Operating
Type: Fee Lot Size: 17,120 sf
Building Size: 1,500 sf Mo Gallons Sold: 85,339
Mo Diesel Gallons: 2,768 Mo Store Sales: Not available
Year Built: 1961 Zoning: C-1
Location Description: Located at the corner of W Warren Street and N Telegraph Road and less than one-
half mile away from Ann Arbor Trail, this property receives heavy traffic both day and night. It also borders
Warrendale Park, the area’s major recreational destination.
Site 312 | Dearborn Heights, MI
Address: 8438 N Telegraph Road Cross Streets: N Telegraph & Constance
County: Wayne Status: Operating
Type: Fee Lot Size: 22,000 sf
Building Size: 3,460 sf Mo Gallons Sold: 216,338
Mo Diesel Gallons: 1,139 Mo Store Sales: Not available
Year Built: 1976 (remodeled 2005) Zoning: C-1
Location Description: Strategically located on N Telegraph Road between Joy Road and Ann Arbor
Trail, approximately 70 businesses lie within one-quarter mile of this busy station.
www.nrc.com/614 |5gas stations MICHIGAN
Site 311 | Detroit, MI
Address: 11694 Greenfield Road Cross Streets: Greenfield & Plymouth
County: Wayne Status: Operating
Type: Fee Lot Size: 10,560 sf
Building Size: 2,288 sf Mo Gallons Sold: 82,826
Mo Diesel Gallons: 2,733 Mo Store Sales: Not available
Year Built: 1997 (remodeled) Zoning: B-3
Location Description: Benefiting from traffic flow from two major streets and one freeway – Greenfield
Road, Plymouth Road and I-96 – this property’s prime location enjoys steady 24/7 business. Dozens of
stores, restaurants and businesses line Greenfield Road. This site is being re-branded to Valero.
Site 318 | Detroit, MI
Address: 15440 Schoolcraft Street Cross Streets: Schoolcraft & Greenfield
County: Wayne Status: Operating
Type: Fee Lot Size: 20,900 sf
Building Size: 2,000 sf Mo Gallons Sold: 84,064
Mo Diesel Gallons: 1,015 Mo Store Sales: Not available
Year Built: 1971 Zoning: B-4
Location Description: This property is located in a high-traffic area just east of Greenfield Road on
Schoolcraft Street, and both I-96 and Grand River Avenue are less than one-half mile away. This 24/7
station is situated among dozens of restaurants, stores and businesses. This site is being re-branded to Valero.
Site 316 | Detroit, MI
Raze and Rebuild Site
Address: 15464 Livernois Avenue Cross Streets: Livernois & John C Lodge Freeway
County: Wayne Status: Operating
Type: Fee Lot Size: 1.21 ac
Building Size: 1,500 sf Mo Gallons Sold: 67,021
Mo Diesel Gallons: 680 Mo Store Sales: Not available
Year Built: 1964 Zoning: B-4
Location Description: Located close to the Lodge on Livernois Avenue, the feeder street to the University
of Detroit-Mercy, this 24/7 station receives both commercial and residential traffic. Over 150 businesses
lie within one mile. Site to include three adjacent land parcels located directly east of the property. This site
is being re-branded to Valero.
Site 321 | Detroit, MI
Address: 16951 Telegraph Road Cross Streets: Telegraph & 6 Mile
County: Wayne Status: Operating
Type: Fee Lot Size: 21,600 sf
Building Size: 2,400 sf Mo Gallons Sold: 125,477
Mo Diesel Gallons: 12,115 Mo Store Sales: Not available
Year Built: 1966 Zoning: B-4
Location Description: Benefiting from traffic flow from three major streets – 6 Mile Road, W Telegraph
Road and Grand River Avenue – this property’s prime location draws steady business 24/7. This is an
extraordinarily high-volume station, providing generous cash flow opportunities. This site is being
re-branded to Valero.
800.747.3342, ext. 6146 |gas stations MICHIGAN
Site 616 | Detroit, MI
Address: 6134 Van Dyke Street Cross Streets: Van Dyke & I-94
County: Wayne Status: Vacant Commercial Lot
Type: Fee Lot Size: 25,400 sf
Zoning: R-2
Location Description: This site allows developers to take full advantage of the area’s heavy residential
population. General Motors’ Cadillac Assembly Plant is less than one mile away. Site has been permitted
to build a gas station.
Site 565 | Detroit, MI
Address: 6401 W 8 Mile Road Cross Streets: W 8 Mile & Livernois
County: Wayne Status: Operating
Type: Fee Lot Size: 12,000 sf
Building Size: 1,200 sf Mo Gallons Sold: 42,698
Mo Diesel Gallons: 1,029 Mo Store Sales: Not available
Year Built: Not available Zoning: C P
Location Description: With its prominent W 8 Mile Road and Livernois Avenue location just a few blocks
west of Woodward Avenue, this property rests within a densely populated, traffic-rich area. Dozens of
stores and restaurants line 8 Mile Road, Livernois Avenue, and Woodward Avenue, ensuring steady volume
throughout the day. This site is being re-branded to Valero.
Site 007 | Farmington, MI
Address: 31233 Grand River Avenue Cross Streets: Grand River & Orchard Lake
County: Oakland Status: Operating
Type: Lease Mo Rent: $3,000
Lot Size: 13,000 sf Building Size: 1,735 sf
Mo Gallons Sold: 82,016 Mo Diesel Gallons: 15,319
Mo Store Sales: Not available Year Built: 1955
Zoning: B-2
Location Description: Benefiting from heavy traffic flow from three major streets – Orchard Lake Road,
W 9 Mile Road and Grand River Avenue – this property’s prime location draws steady business throughout
the day. Dozens of stores, restaurants and businesses line Grand River Avenue; the M-5 Freeway exit is
less than one-half mile away.
Site 326 | Farmington Hills, MI
Address: 29370 W 12 Mile Road Cross Streets: W 12 Mile & Middlebelt
County: Oakland Status: Operating
Type: Fee Lot Size: 27,889 sf
Building Size: 2,400 sf Mo Gallons Sold: 120,552
Mo Store Sales: Not available Mo Add’l Revenue: $265 (ATM)
Year Built: 1966 Zoning: B-1
Location Description: Strategically located at the corner of W 12 Mile Road and Middlebelt Road in
Farmington Hills, one of Metro Detroit’s most densely populated areas, this station produces extraordinary
sales numbers. There’s a healthy residential-commercial mix throughout the area, ensuring steady and
consistent traffic. This site has been re-branded to Valero.
www.nrc.com/614 |7gas stations MICHIGAN
Site 313 | Farmington Hills, MI
Address: 29510 Orchard Lake Road Cross Streets: Orchard Lake & W 13 Mile
County: Oakland Status: Operating
Type: Fee Lot Size: 16,675 sf
Building Size: 1,900 sf Mo Gallons Sold: 129,029
Mo Diesel Gallons: 2,180 Mo Store Sales: Not available
Year Built: 1976 Zoning: B-3
Location Description: Roughly one-half mile north of I-696 and one-half mile south of Northwestern
Highway at the corner of Orchard Lake Road and W 13 Mile Road, this property receives tremendous
traffic volume. No fewer than 150 businesses lie within a 350-yard radius of the station, ensuring
steady volume throughout the day. This site is being re-branded to Valero.
Site 010 | Farmington Hills, MI
Address: 38030 W 10 Mile Road Cross Streets: W 10 Mile & Grand River
County: Oakland Status: Closed for Remodeling
Type: Fee Lot Size: 28,314 sf
Building Size: 1,189 sf Mo Gallons Sold: Not available
Mo Store Sales: Not available Year Built: 1970 (remodeled 2006)
Zoning: B -3
Location Description: Strategically located at the corner of 10 Mile Road and Grand River Avenue, with
three freeways – I-96, I-275 and M-5 – all less than one-half mile away, this property enjoys heavy
traffic both day and night. Approximately 100 businesses lie within one-quarter mile of the station.
This site is being re-branded to Valero.
Site 078 | Fenton, MI
Address: 3325 Owen Road Cross Streets: Owen & US 23
County: Genesee Status: Operating
Type: Fee Lot Size: 1.31 ac
Building Size: 6,240 sf Mo Gallons Sold: 115,450
Mo Diesel Gallons: 20,898 Mo Store Sales: $38,669
Mo Add’l Revenue: $10,412 (lottery) + $315 (ATM) Year Built: 1981
Zoning: C-1
Location Description: Just one block west of US 23 on Owen Road in Fenton, this property rests within a
densely populated, traffic-rich area. This is an extraordinarily busy 24/7 station with healthy sales,
providing great cash flow opportunities. This site is being re-branded to Valero.
Site 418 | Flint, MI
Address: G 4005 Clio Road Cross Streets: Clio & W Pierson
County: Genesee Status: Operating
Type: Lease Lease Exp: 12/13/2014
Lease Options: None Mo Rent: $3,700
Lot Size: 38,184 sf Building Size: 2,812 sf
Mo Gallons Sold: 54,188 Mo Stores Sales: Not available
Year Built: 1992 (remodeled) Zoning: C-2
Location Description: Located one mile west of I-75 at the corner of Clio Road and W Pierson Road, this
property lies in a busy residential-commercial mixed area. Over 100 business lie within one mile of the
station, and the GM-Service Parts Operation Plant is nearby.
800.747.3342, ext. 6148 |gas stations MICHIGAN
Site 369 | Flint, MI
Address: G 5145 Miller Road Cross Streets: Miller & American Veterans Highway
County: Genesee Status: Closed
Type: Fee Lot Size: 1.1 ac
Building Size: 1,500 sf Year Built: 1976
Zoning: C -1
Location Description: This property is located in a high-traffic area just north of I-69 at the corner of
Miller Road and American Veterans Highway. Though a closed station, it offers tremendous development
opportunities. The Genesee Valley Shopping Center is a few blocks away, as is the GM-Service Parts
Operation Plant and Genesee Valley Meadows Golf Club. If reopened as a gas station, site will be
re-branded as Sunoco.
Site 317 | Flint, MI
Address: G 5277 Corunna Road Cross Streets: Corunna (US 21) & S Dye
County: Genesee Status: Operating
Type: Fee Lot Size: 32,000 sf
Building Size: 1,200 sf Mo Gallons Sold: 48,262
Mo Store Sales: Not available Year Built: 1971
Zoning: C -1
Location Description: Roughly one mile west of I-75 on Corunna Road, this property sits in a heavily
trafficked area on Flint’s west side. The Genesee Valley Shopping Center is due south along Linden Road,
and the GM-Service Parts Operation Plant is nearby. This site is being re-branded to Valero.
Site 070 |Grayling, MI
Address: 206 N James Street Cross Streets: N James & Ionia
County: Crawford Status: Operating
Type: Fee Lot Size: 17,400 sf
Building Size: 1,500 sf Mo Gallons Sold: 36,138 (2006)
Mo Store Sales: $5,095 Mo Add’l Revenue: $1,461 (lottery)
Year Built: 1986 Zoning: C-1
Location Description: Located along the I-75 Business Loop in Grayling, this property enjoys traffic
throughout the day. I-75 is less than one mile away, and several dozen stores, restaurants and businesses
lie within a few blocks.
Site 080 |Houghton Lake, MI
Address: 9400 W Lake City Road Cross Streets: W Lake City (US 55) & US 127
County: Roscommon Status: Operating
Type: Fee Lot Size: 28,000 sf
Building Size: 1,500 sf Mo Gallons Sold: 24,720 (2006)
Mo Diesel Gallons: 5,662 (2006) Mo Store Sales: $7,862
Mo Add’l Revenue: $2,607 (lottery) + $61 (ATM) Year Built: 1976
Zoning: C-1
Location Description: Less than three blocks east of US 127, this property is located on busy W Lake City
Road among dozens of restaurants, hotels and professional offices. It is also situated less than one mile
away from Houghton Lake. Beer and wine license available for transfer to buyer.
www.nrc.com/614 |9gas stations MICHIGAN
Site 345 |Houghton Lake, MI
Address: 9469 W Lake City Road Cross Streets: W Lake City (US 55) & Cloverleaf
County: Roscommon Status: Operating
Type: Fee Lot Size: 31,850 sf
Building Size: 1,500 sf Mo Gallons Sold: 78,694
Mo Store Sales: Not available Year Built: 1966
Zoning: C-1
Location Description: Less than three blocks east of US 127, this property is located on busy W Lake City
Road among dozens of restaurants, hotels, and professional offices. It is also situated less than one mile
away from Houghton Lake, a popular vacation spot.
Site 072 |Jackson, MI
Address: 3501 Page Avenue Cross Streets: Page & Fairfax
County: Jackson Status: Operating
Type: Fee Lot Size: 24,840 sf
Building Size: 2,400 sf Mo Gallons Sold: 33,275 (2006)
Mo Diesel Gallons: 7,110 (2006) Mo Store Sales: $12,346
Mo Add’l Revenue: $7,583 (lottery) Year Built: 1985
Zoning: C-1
Location Description: Located along Page Avenue, a main artery that leads to downtown Jackson, this
property receives steady business throughout the day. Dozens of stores, restaurants and businesses line
Page Avenue; the US 127 exit is a few blocks west. This site is being re-branded to Valero.
Site 303 |Livonia, MI
Address: 29230 5 Mile Road Cross Streets: 5 Mile & Middlebelt
County: Wayne Status: Operating
Type: Fee Lot Size: 12,000 sf
Building Size: 1,500 sf Mo Gallons Sold: 78,055
Mo Diesel Gallons: 5,727 Mo Store Sales: Not available
Year Built: 1971 Zoning: B-2
Location Description: Just one mile north of I-96 on the corner of 5 Mile Road and Middlebelt Road, this
Livonia property sits in a busy mixed residential–commercial area. Daily traffic is enhanced by a rich
concentration of medical and dental offices; over 70 practices are located within one mile of the site. This
site is being re-branded to Valero.
Site 038 |Livonia, MI
Address: 33375 8 Mile Road Cross Streets: 8 Mile & Farmington
County: Wayne Status: Operating
Type: Fee Lot Size: 28,000 sf
Building Size: 1,800 sf Mo Gallons Sold: 54,706
Mo Diesel Gallons: 12,239 Mo Store Sales: $25,562
Mo Add’l Revenue: $15,824 (lottery) + $193 (ATM) Year Built: 1987
Zoning: C-2
Location Description: Just one mile south of the M-5 Freeway on the corner of 8 Mile Road and Farmington
Road, this property is located in a mixed residential–commercial area in Livonia.
800.747.3342, ext. 61410 |gas stations MICHIGAN
Site 006 |Redford, MI
Raze and Rebuild Site
Address: 25810 Schoolcraft Street Cross Streets: Schoolcraft & Beech Daly (I-96)
County: Wayne Status: Operating
Type: Fee Lot Size: 17,498 sf
Building Size: 1,500 sf Mo Gallons Sold: 55,404
Mo Store Sales: $34,402 Mo Add’l Revenue: $10,557 (lottery) + $324 (ATM)
Year Built: 1952 Zoning: C-1
Location Description: At the intersection of Schoolcraft Road and Beech Daly Road in a heavily populated
area, this property enjoys continuous 24/7 traffic. The Jeffries (I-96) is less than three blocks away, and
dozens of stores, restaurants and businesses lie within one-half mile. This site is being re-branded to Valero.
Site 043 |Roscommon, MI
Address: 2689 W Federal Highway Cross Streets: W Federal & Ivy (I-75)
County: Roscommon Status: Operating
Type: Fee Lot Size: 1.88 ac
Building Size: 1,800 sf Mo Gallons Sold: 53,136
Mo Diesel Gallons: 10,003 Mo Store Sales: $35,424
Mo Add’l Revenue: $6,201 (lottery) + $273 (ATM) Year Built: 1991
Zoning: C-1
Location Description: This property is strategically located just east of Ivy Road on W Federal Highway,
the main road connecting US 127 and I-75 as you head for Higgins Lake, the area’s most popular
recreation spot. This site is being re-branded to Valero. Beer and wine license available for transfer to buyer.
Site 027 |Roseville, MI
Address: 28005 Gratiot Avenue Cross Streets: Gratiot & Martin
County: Macomb Status: Operating
Type: Lease Lease Exp: 7/31/ 2 00 8
Lease Options: One 5-Year Mo Rent: $5,500
Lot Size: 7,500 sf Building Size: 1,040 sf
Mo Gallons Sold: 66,633 Mo Diesel Gallons: 1,813
Mo Store Sales: $38,616 Mo Add’l Revenue: $8,586 (lottery) + $280 (ATM)
Year Built: 1995 Zoning: C-1
Location Description: Roughly one-half mile north of I-696 and one-half mile west of I-94 on Gratiot Avenue,
this property is situated within a densely populated, traffic-rich area. Dozens of stores and restaurants line
Gratiot Avenue, ensuring steady volume throughout the day. This site is being re-branded to Valero.
Site 073 |Saginaw, MI
Address: 2811 S Washington Avenue Cross Streets: Washington & Wisner
County: Saginaw Status: Operating
Type: Fee Lot Size: 22,000 sf
Building Size: 970 sf Mo Gallons Sold: 30,116 (2006)
Mo Diesel Gallons: 373 (2006) Mo Store Sales: $7,087
Mo Add’l Revenue: $795 (lottery) Year Built: 1981
Zoning: C-1
Location Description: Strategically located at the corner of S Washington Avenue and Wisner Street,
with two main Saginaw feeders – Gallagher Street and Hess Avenue – just a block away, this
property receives steady traffic both day and night. Approximately 150 businesses lie within one-
quarter mile of the station.
www.nrc.com/614 |11gas stations MICHIGAN
Site 309 |Southfield, MI
Address: 23640 W 8 Mile Road Cross Streets: W 8 Mile & Sherman
County: Oakland Status: Operating
Type: Fee Lot Size: 19,500 sf
Building Size: 1,945 sf Mo Gallons Sold: 87,186
Mo Diesel Gallons: 6,663 Mo Store Sales: Not available
Year Built: 1981 Zoning: B-3
Location Description: Located a few blocks east of Telegraph Road on W 8 Mile Road, this property
enjoys continuous 24/7 traffic. Dozens of stores, restaurants and businesses lie within one-quarter
mile of the station. This site is being re-branded to Valero.
Site 005 |Southfield, MI
Forecourt Raze and Rebuild and Interior Remodel Site
Address: 24722 Southfield Road Cross Streets: Southfield & George Washington
County: Oakland Status: Operating
Type: Fee Lot Size: 13,000 sf
Building Size: 2,800 sf Mo Gallons Sold: 37,371 (2006)
Mo Diesel Gallons: 1,575 (2006) Mo Store Sales: $10,879
Mo Add’l Revenue: $304 (lottery) Year Built: 1961 (remodeled 1982)
Zoning: B-3
Location Description: This property is located in a high-traffic area just south of W 10 Mile Road on
Southfield Road. Both the Lodge and Southfield Freeways are less than one mile away. The station is
directly across the street from an ABC Warehouse and other popular stores. This site is being re-branded to Valero.
Site 308 |Southfield, MI
Address: 29009 Northwestern Highway Cross Streets: Northwestern & W 12 Mile
County: Oakland Status: Operating
Type: Fee Lot Size: 16,100 sf
Building Size: 1,208 sf Mo Gallons Sold: 125,109 (2006)
Mo Diesel Gallons: 1,162 (2006) Mo Store Sales: Not available
Year Built: 1996 Zoning: B-3
Location Description: This property is situated along Northwestern Highway, one of the highest density
commercial strips in Metro Detroit. This is an extraordinarily busy 24/7 station with healthy sales,
providing great cash flow opportunities.
Site 315 |Taylor, MI
Address: 10924 Telegraph Road Cross Streets: Telegraph & Goddard
County: Wayne Status: Operating
Type: Fee Lot Size: 35,000 sf
Building Size: 1,260 sf Mo Gallons Sold: 66,759
Mo Diesel Gallons: 3,971 Mo Store Sales: Not available
Year Built: 1964 Zoning: B-2
Location Description: Located just a few blocks south of Oakwood Heritage Hospital at the corner of
Telegraph Road and Goddard Road in Taylor. Its location enjoys strong and steady traffic throughout the
day. This site is being re-branded to Valero.
800.747.3342, ext. 61412 |gas stations MICHIGAN & OHIO
Site 365 |Warren, MI
Address: 24991 Groesbeck Highway Cross Streets: Groesbeck & E 10 Mile
County: Macomb Status: Operating
Type: Fee Lot Size: 1.73 ac
Building Size: 2,400 sf Mo Gallons Sold: 144,732
Mo Diesel Gallons: 18,484 Mo Store Sales: Not available
Year Built: 1966 Zoning: C-1
Location Description: Located at the corner of Groesbeck Highway and E 10 Mile Road in Warren, this
property sits in a busy mixed residential–commercial area. Sales at this station are extraordinarily high,
providing excellent cash flow opportunities. This site is being re-branded to Valero.
Site 362 |Warren, MI
Address: 32900 Mound Road Cross Streets: Mound & E 14 Mile
County: Macomb Status: Operating
Type: Fee Lot Size: 1.02 ac
Building Size: 1,800 sf Mo Gallons Sold: 159,640 (2006)
Mo Diesel Gallons: 690 (2006) Mo Store Sales: Not available
Year Built: 2005 Zoning: C-1 / C-3
Location Description: Positioned at a busy intersection at Mound Road and E 14 Mile Road, this
property enjoys steady sales throughout the day. Over 100 businesses lie within one-half mile, including a
car dealership directly across the street. This site is being re-branded to Valero.
Site 081 |Marion, OH
Address: 1303 N Main Street
Cross Streets: N Main (US 423 and US 4) & Marion-Williamsport E
County: Marion Status: Operating
Type: Fee Lot Size: 24,000 sf
Building Size: 408 sf Mo Gallons Sold: 57,567
Mo Diesel Gallons: 30,179 Mo Store Sales: $22,010
Mo Add’l Revenue: $1,981 (lottery) + $190 (ATM) Year Built: 1971
Zoning: C-1
Location Description: Located at the corner of N Main Street and Marion-Williamsport Road E, just one
mile from the heart of downtown Marion, this property draws steady commuter and residential traffic
throughout the day. This site is being re-branded to Valero.
Site 442 |Ypsilanti, MI
Address: 317 N Washington Street Cross Streets: N Washington & W Cross
County: Washtenaw Status: Closed
Type: Fee Lot Size: 9,100 sf
Building Size: 970 sf Year Built: 1966
Zoning: RC
Location Description: Just one block west of N Huron Street and three blocks north of W Michigan Avenue
in Ypsilanti, this site offers tremendous development opportunities. Over 150 businesses lie within one-
quarter mile, most catering to this heavily populated residential community.
www.nrc.com/614 |13gas stations OHIO
Site 379 |Sunbury, OH
Address: 7225 E State Route 37 Cross Streets: E State Route (OH-) 37 & US 36 (I-71)
County: Delaware Status: Closed
Type: Fee Lot Size: 2.2 ac
Building Size: 1,500 sf Year Built: 1976
Zoning: PCD
Location Description: Great commercial opportunity at this location near the intersection of US 36 and
Cherry Street (OH-37). With easy access to I-71, the site is primed to take advantage of a steady flow of
commercial and residential traffic from downtown Sunbury.
Site 507 |Mount Gilead, OH
Address: 6027 State Route 95 Cross Streets: State Route 95 & I-71
County: Morrow Status: Operating
Type: Fee/Lease Lease Exp: 10/07/2010
Lease Options: Twelve 5-Year Mo Rent: $475 per mo + $0.01 per gallon sold
Lot Size: 22.6 ac Building Size: 567 sf
Mo Gallons Sold: 47,452 Mo Store Sales: Not available
Year Built: 1992 (remodeled) Zoning: C
Location Description: This property is located on State Route 95, one-quarter mile from the I-71 exit, the
north-south interstate connecting Cleveland and Columbus.
800.747.3342, ext. 61414 |strip shopping center & commercial properties MICHIGAN
94
Bemer Street
28 1/2 Mile Road
N Eaton Street
NOT TO SCALE
”N
Site 601 |Albion, MI
Address: 1521 N Eaton Street Cross Streets: N Eaton & I-94
County: Calhoun Status: Closed Casual Dining Restaurant
Type: Fee Lot Size: 1.81 ac
Building Size: 5,000 sf Zoning: B-3
Year Built: 1985
Location Description: Just a few blocks south of I-94 on N Eaton Street, a main connector
to downtown Albion, this commercial site – one of three adjacent sites (see site numbers 602
and 603) – offers tremendous development opportunities. Eaton Street is blanketed by a dense
concentration of stores, restaurants and businesses, ensuring a generous system of commercial support.
Site 603 |Albion, MI
Address: N Eaton Street & I-94 Cross Streets: I-94 & N Eaton
County: Calhoun Status: Vacant Commercial Lot
Type: Fee Lot Size: 27.71 ac
Zoning: B-3
Location Description: One of three adjacent commercial sites available near Albion’s I-94/Eaton
Street junction, this property is primed for your development ideas. Take advantage of the steady
commuter traffic flow from I-94, southern Michigan’s main east-west interstate connecting Detroit
and Chicago.
Site 602 |Albion, MI
Address: 1503 N Eaton Street Cross Streets: I-94 & N Eaton
County: Calhoun Status: Strip Shopping Center
Type: Fee Lot Size: 13+ ac
Building Size: 71,000 sf Zoning: B-3
Parking Lot Size: 55,000 sf Year Built: 1956
Location Description: Adjacent to Site 601, this site is well positioned for a high-impact development
project. The parking lot has 200 spaces. Over 150 businesses lie within one mile, a strong economic base
that attests to the area’s popularity.
Tenant 1: Cash Advance
Mo Rent: $1,875/month Lease Exp: 8/10/2007
Options to Renew: Two 3-Year Options
Tenant 2: Family Dollar
Mo Rent: $750 + 3% of gross sales over $25k Lease Exp: 12/31/2008
Options to Renew: Two 5-Year Options
Tenant 3: Auto Zone
Mo Rent: $3,166.66 Lease Exp: 9/30/2007
Options to Renew: Two 5-Year Options
Tenant 4: Colortyme/Rent To Own
Mo Rent: $1,825 Lease Exp: 10/31/2008
Options to Renew: Currently in last renewal term
www.nrc.com/614 |15commercial properties MICHIGAN
W 4 Mile Road
S Old US-27
NOT TO SCALE
”N
Nelson
A Miles
Parkway
251
75
251
Site 612 | Battle Creek, MI
Minimum Price: $20,000
Address: 352 Van Buren Street W Cross Streets: Van Buren W & N Cass
County: Calhoun Status: Vacant Commercial Lot
Type: Fee Lot Size: 8,580 sf
Zoning: C-3
Location Description: This property is located in a high-traffic area along Van Buren Street W, one-half
block north and parallel to W Michigan Avenue, a major feeder street to downtown Battle Creek. The
densely populated commercial-residential mix provides steady traffic throughout the day.
Site 616 | Detroit, MI
Address: 6134 Van Dyke Street Cross Streets: Van Dyke & I-94
County: Wayne Status: Vacant Commercial Lot
Type: Fee Lot Size: 25,400 sf
Zoning: R-2
Location Description: This site allows developers to take full advantage of the area’s heavy residential
population. General Motors’ Cadillac Assembly Plant is less than one mile away.
Site 610 |Grayling, MI
Address: W 4 Mile Road & I-75 Cross Streets: W 4 Mile & I-75
County: Crawford Status: Vacant Commercial Lot
Type: Fee Lot Size: 220 ac
Zoning: C
Location Description: Development opportunities abound at this 220-acre northern Michigan site
located just east of I-75, the state’s main north-south freeway, in Grayling. The area provides year-round
recreational activities, attracting both winter and summer travelers.
Site 604 |Albion, MI
Minimum Price: $25,000
Address: 301 Austin Avenue Cross Streets: Austin & N Eaton
County: Calhoun Status: Vacant Commercial Lot
Type: Fee Lot Size: 9,450 sf
Zoning: B-1
Location Description: This commercial site is located at the corner of Austin Avenue and N Eaton Street, less
than one-half mile from the I-94 exit. Downtown Albion is just a few blocks away, ensuring high visibility
for the steady stream of passing motorists.
800.747.3342, ext. 61416 |commercial properties MICHIGAN & OHIO
Site 605 |Livonia, MI
Minimum Price: $550,000
Address: 27410 Joy Road Cross Streets: Joy & Inkster
County: Wayne Status: Vacant Commercial Lot
Type: Fee Lot Size: 1.09 ac
Zoning: B-2
Location Description: At the intersection of Joy Road and Inkster Road, this property enjoys continuous
traffic, owing to its prime location just south of the Jeffries (I-96) corridor. Over 100
stores, restaurants and businesses lie within one-half mile.
Site 618 |Mount Clemens, MI
Address: 35 Mary Street Cross Streets: Mary & Cass
County: Macomb Status: Vacant Commercial Lot
Type: Fee Lot Size: 1.93 ac
Zoning: C-1
Location Description: Located less than one block from Cass Avenue, one of Mount Clemens’ busiest
streets, this site offers tremendous development opportunities. There’s a dense concentration of
businesses – over 100 within a few blocks – providing a steady stream of traffic. Groesbeck Highway is
just a few blocks west, providing easy north-south access throughout the area. Site includes 14 storage
tanks which hold more than half a million gallons.
Site 608 | Dayton, OH
Minimum Price: $45,000
Address: 1445 N Gettysburg Avenue Cross Streets: N Gettysburg & Gardendale
County: Montgomery Status: Vacant Commercial Lot
Type: Fee Lot Size: 42,500 sf
Zoning: I-1
Location Description: Just a few blocks south of N James H McGee Boulevard, a main artery leading to
downtown Dayton, this property rests within a densely populated, traffic-rich area. Dozens of stores and
restaurants line Gardendale Avenue and N Gettysburg Avenue, ensuring steady traffic throughout the day.
Site 609 |Kalamazoo, MI
Minimum Price: $20,000
Address: 117 W Stockbridge Avenue Cross Streets: W Stockbridge & S Burdick
County: Kalamazoo Status: Vacant Commercial Lot
Type: Fee Lot Size: 13,200 sf
Zoning: C
Location Description: Located less than two blocks east of S Park Street, a main north-south Kalamazoo
thoroughfare, this lot provides tremendous development opportunities. Situated at the corner of W
Stockbridge Avenue and S Burdick Street, your project will enjoy a steady flow of both commuter and
commercial traffic.
www.nrc.com/614 |17commercial properties OHIO
Site 611 | Dayton, OH
Minimum Price: $20,000
Address: 3525 W 3rd Street Cross Streets: W 3rd & N Halloway
County: Montgomery Status: Vacant Commercial Lot
Type: Fee Lot Size: 15,600 sf
Zoning: T
Location Description: With a prominent site along W 3rd Street (a continuation of US 35), the main east-
west street feeding downtown Dayton, this property sits in a busy mixed residential–commercial area.
Daily traffic is enhanced by a rich concentration of businesses; over 100 are located within one-half mile.
Site 615 |Lima, OH
Minimum Price: $30,000
Address: 530 W Vine Street Cross Streets: W Vine & S Metcalf
County: Allen Status: Vacant Commercial Lot
Type: Fee Lot Size: 11,500 sf
Zoning: B-1
Location Description: Located on the corner of W Vine Street and S Metcalf Street in Lima, this site presents
generous development opportunities. There’s a healthy concentration of residential and commercial traffic
in this town of 40,000+. Over 150 businesses lie within three-quarters of a mile.
Site 606 |Middletown, OH
Address: 323 N Verity Parkway Cross Streets: N Verity & Reinartz (OH-122)
County: Butler Status: Closed
Type: Fee Lot Size: 11,200 sf
Building Size: 650 sf Year Built: 1958
Zoning: C
Location Description: This metro Cincinnati site, at the corner of N Verity Parkway and Reinartz Boulevard,
is nestled in a robust working class neighborhood. The strong community atmosphere will provide a loyal
following for an invested station owner.
Site 614 | Dayton, OH
Minimum Price: $25,000
Address: 2110 E 3rd Street Cross Streets: E 3rd & Bell
County: Montgomery Status: Vacant Commercial Lot
Type: Fee Lot Size: 13,200 sf
Zoning: MNC
Location Description: With the heart of downtown Dayton just blocks away, this site’s prime location enjoys
steady traffic flow throughout the day. Dozens of stores, restaurants and businesses lie in the immediate
area; there is easy access to both I-75 and US 35.
800.747.3342, ext. 61418 |commercial properties OHIO & ILLINOIS
Site 607 |Toledo, OH
Minimum Price: $45,000
Address: 1201 Miami Street Cross Streets: Miami & Fassett
County: Lucas Status: Vacant Commercial Lot
Type: Fee Lot Size: 12,500 sf
Zoning: B-1
Location Description: With easy access to downtown Toledo and situated among dozens of businesses, this
site offers tremendous development opportunities. Located less than one mile from the I-75–Miami Street
exit and bordering the Maumee River, the infrastructure is in place for a successful commercial project.
Site 613 |Westville, IL
Address: 1717 N State Street Cross Streets: N State (US 150) & W Oak
County: Vermilion Status: Operating
Type: Fee Tenant Lease Exp: 4/30/2015
Tenant Lease Options: Two 10-Year Lot Size: 39,250 sf
Zoning: B-1 Yearly Rental Income: $75,865
Location Description: Situated along US 150 just a few miles south of I-74, this commercial site enjoys a
steady yearly income from the tenant. The lease is a triple net lease. Kickapoo State Park is nearby, as is
Danville, a robust and historic Illinois community.
www.nrc.com/614 |19TERMS AND CONDITIONS
NRC Realty Advisors, LLC (“NRC”) has been retained by
Knight Enterprises, Inc., a Michigan corporation, (“Seller”) to
coordinate the sale of 56 properties comprised of operating and
closed gasoline stations, a commercial shopping center, a closed
restaurant site and commercial land parcels located in Illinois,
Michigan and Ohio (the “Properties”) by sealed-bid on Thursday,
December 14, 2006.
OFFERING
The offering consists of the following:
Operating Gasoline Stations
Thirty-four of the Properties are currently operating and are
being offered as branded gasoline stations with convenience
stores. All will be sold with 15-year fuel supply agreements.
Twenty-nine of these stations are offered as fee sites and
five stations are lease sites. Some stations may change
brands prior to closing.
Closed Gasoline Stations
Five of the Properties are currently closed and are being
offered as branded gasoline stations with convenience
stores. Each of these sites are offered as fee sites and all will
be sold with 15-year fuel supply agreements.
Commercial Properties
Seventeen of the Properties are offered for commercial
development or redevelopment. All of these commercial sites
are offered as fee sites.
Commercial Shopping Center
One Property is offered as a commercial shopping center.
DEED RESTRICTION
All sites in this sale are being sold with 15-year deed restrictions
requiring any party operating a gas station on that site to enter
into a fuel supply agreement with Seller for that term. Please
refer to the Property Specific Package (“PSP”) and brochure for
site-specific information.
FUEL SUPPLY AGREEMENT
Buyers purchasing gasoline station sites shall be required to
enter into a 15 year fuel supply agreement as a condition of
the sale. The supplying entity will be determined on a site
by site basis.
PERSONAL PROPERTY BEING SOLD
In addition to the real estate for the fee properties and the leases
for the leasehold sites, Seller is offering for sale the Equipment
and Inventory located at each site. Please see the PSP for each
site for the Equipment List.
TERMS AND CONDITIONS OF SALE
The sale of the Properties is subject to the terms and conditions
outlined herein (the “Terms and Conditions of Sale”), in the PSP
for each Property and the Purchase and Sale Agreement (the
“PSA”) for each Property. In the event of a conflict between
the Terms and Conditions of Sale and any applicable PSA, the
provisions of the PSA shall control.
BID DEADLINE
NRC must receive all bids by Thursday, December 14, 2006,
12:00 noon Central Standard Time (the “Bid Deadline”). All bids
must be sent to:
NRC Realty Advisors, LLC
363 W Erie Street, Suite 300E
Chicago, IL 60610
ATTN: SEALED BID SALE 614
BID PACKAGE AND BID DEPOSIT
A Bid Package will be included in each PSP. The Bid Package
contains the PSA to be executed, the sealed-bid envelope for
return of the bid and specific instructions on how to complete
and return bids to NRC. Bids must be conforming to be
accepted. A bid must contain the following information to be
conforming: (a) a certified or cashiers check in the amount of
2.5% or $10,000, whichever is greater, of the bid price made
payable to NRC Realty Advisors, LLC, and (b) a fully executed
and initialed PSA with Exhibit A (Legal Description) and all
other exhibits attached.
CONFIDENTIALITY
All information contained in the PSP and Bid Package is
confidential and must be kept confidential by each person and
entity receiving such information (each, a “Recipient”). Any
person or entity that orders a PSP or otherwise receives a Bid
Package specifically agrees to this confidentiality. A Recipient,
however, may disclose information obtained from the PSP
and Bid Package, on a “need-to-know” basis, to the following
persons (a “Permitted Disclosure”) and entities, provided that
those persons and entities agree to keep that information
confidential: (a) the employees, officers and directors of the
Recipient or the Recipient’s affiliates, (b) third parties who
are performing investigations and analyzing information to
advise a Recipient regarding its bids, and (c) third parties
providing a Recipient with financing for the purchase of a
Property. These confidentiality provisions will terminate as
to a Recipient only if and when it consummates its purchase
of the Property.
PROPERTIES TO BE SOLD WITH EXISTING LEASES
If applicable, the Properties will be sold with existing leases in
place and the buyer will be assigned Seller’s interest under the
lease in the Property. The assignment of the Seller’s leasehold
interest may be subject to lessor’s approval. The acceptance
of any bid shall be expressly subject to Seller being relieved of
all continuing obligations under the related ground lease and
operating agreement upon assignment by Seller to a buyer of
its entire interest thereunder.
INSPECTIONS
Properties that are currently operating may be inspected
during normal business hours from 8:30am to 5:00pm local
time, Monday through Saturday. The store managers and
employees have been instructed to refer any buyer questions
directly to NRC. UNDER NO CIRCUMSTANCES MAY BUYERS ASK
QUESTIONS OF STORE MANAGERS OR STORE EMPLOYEES.
BUYERS VIOLATING THIS REQUIREMENT MAY BE DISQUALIFIED
FROM BIDDING.
BIDDER’S PERFORMANCE OF DUE DILIGENCE
Bidders must perform their own independent due diligence
before bidding.
DUE DILIGENCE INFORMATION
Physical, environmental and certain financial information about
each Property is contained in the PSP. A separate PSP is available
for each Property from NRC at a cost of $35 per hard copy and
$25 per CD-ROM, which includes second-day air delivery. PSPs
may be purchased online at the www.nrc.com/614 Web site,
by faxing a completed PSP order form (available for download
on the Web site) to NRC at 312.278.6900 or by calling the NRC
Customer Service Center at 800.747.3342 ext. 614.
BIDDER’S FINANCIAL QUALIFICATION
Seller reserves the right to review additional financial
information concerning the buyer and information confirming the
buyer’s ability to close the sale.
BID FORMAT
Bids must be made on the PSA forms provided in the PSP. No
other method of bidding is acceptable. Purchase of gasoline and
merchandise inventory, if applicable, at closing is in addition to
the purchase price. Please refer to the PSP for a list of equipment
that is being offered for sale by Seller.
BID DEPOSIT
An initial bid deposit of 2.5% of the bid price or $10,000,
whichever is greater, (the “Bid Deposit”) must be included
with each bid. Bid Deposits must be in the form of a certified or
cashiers check made payable to NRC Realty Advisors, LLC. Bids
received without a Bid Deposit are non-conforming and will not
be considered. Successful bidders will be required to increase
their bid deposit to 10% of the purchase price by certified or
cashiers check within two business days of written notification
from NRC of Seller’s acceptance of their bid.
NON-CONFORMING OR REJECTED BIDS
Seller reserves the right to reject any bid that it considers
nonconforming. No alteration, modification or amendment to
the PSA is permitted. Any change may cause Seller to consider
a bid non-conforming and reject the bid. NRC will return bid
deposits from nonconforming or rejected bids by certified mail
approximately ten days after the Bid Deadline.
BUYERS PREMIUM
Buyer shall pay, in addition to the purchase price, an amount
equal to 2% of the purchase price of the Property at closing.
EVALUATION AND AWARD OF BIDS
Seller will review all bids received by the Bid Deadline.
After consideration of bids, Seller, in its sole and absolute
discretion, will select the successful bidders. Seller reserves
the right to review additional financial information concerning
the buyer, and information confirming the buyer’s ability
to close the sale. In Seller’s sole and absolute discretion,
acceptance of any bid shall be expressly subject to Seller
being relieved of all continuing obligations under the related
ground lease and operating agreement upon assignment by
Seller to a Buyer of its entire interest thereunder. Seller shall
use good faith efforts to accept or reject bids within seven
business days after the Bid Deadline. All sales will be final,
upon Seller’s acceptance of the bid.
BEST AND FINAL BIDS
Seller reserves the right to solicit a best and final offer (“BAFO”)
for any Property, whereby bidders will be given an opportunity
to raise their bids. NRC shall notify bidders of Seller’s intent
to solicit a BAFO by telephone and facsimile. BAFOs shall be
incorporated by written amendment into the PSA. Bidders may
not lower BAFO bids below their original bid amounts. If no BAFO
is received, the original bid amounts shall remain in effect.
PROHIBITION ON WITHDRAWING BIDS
Sealed bids will be considered purchase offers in effect as of
the Bid Deadline and will remain in effect for 15 business days
thereafter, unless amended prior thereto by a BAFO. BAFOs shall
be considered purchase offers in effect as of the date the BAFO
is received by NRC and for 15 business days thereafter. Purchase
offers may not be revoked or withdrawn by the bidder during
such time periods.
EFFECTIVE DATE OF AWARD OF BID
The effective date of the award of the bid will be the date that
Seller executes the PSA. Because time is of essence, NRC will
notify successful bidders of the award via facsimile. The fully-
executed PSA will be sent subsequently by mail.
ADDITIONAL EARNEST MONEY REQUIREMENTS
AND ESCROW DEPOSIT
Within two business days after NRC’s notification of Seller’s
acceptance of the bid, the successful bidder must deposit
additional funds (the “Additional Escrow Deposit”) that, when
added to the initial bid deposit, shall equal 10% of the successful
bid price. The Additional Escrow Deposit must be payable to NRC
Realty Advisors, LLC and paid by certified or cashiers check or
wire transfer of immediately available funds. The Bid Deposit and
Additional Escrow Deposit shall be collectively referred to herein
as the “Earnest Money”. All Earnest Money delivered to NRC shall
be held by NRC in a separate, non-interest bearing trust account
for the benefit of the parties to the transaction. NRC reserves the
right to allocate any excess Bid Deposits toward the Additional
Escrow Deposit requirement.
SELLER’S RESERVATION OF RIGHTS
Seller reserves the right, in its sole discretion, to decline any bid,
postpone, extend, or cancel the Bid Deadline, and withdraw any
Property from the sealed-bid sale at any time without notice.
Seller further reserves the right, in its sole discretion, without
notifying any other bidder, giving any other bidder similar
opportunity, or re-offering the subject Property, to negotiate with
any bidder the terms of its bid; to overlook minor inconsistencies
or nonconformities in any bid; to extend any deadlines for any
Property; and to accept the bid that Seller considers in its best
interest, whether or not it is the highest purchase price. Seller
may require verification of funds available to close on offers
before accepting any bid. The Terms and Conditions of Sale are
subject to any modifications required by the laws of the state in
which the Property is located.
ENVIRONMENTAL MATTERS
The following environmental information may be available in
the PSP: (a) Phase I and/or Phase II, (b) state environmental
insurance information, (c) copies of tank registrations, (d) and
tank and line tests.
BROKER COOPERATION
A fee equal to 1% of the gross selling price of each property
will be paid by NRC upon the closing of escrow of the sale of
such property pursuant to the Purchase and Sale Agreement
to any licensed broker or agent whose registered prospect
consummates the sale. For purposes of calculating such fee,
the gross selling price shall not include any amounts paid
for inventory and/or supplies. Brokers must register their
prospect(s) with NRC no less than three (3) days prior to
the Bid Deadline by completing a Broker Registration Form
obtained from NRC and returning the completed form to NRC
at 312.278.6900, referencing Sale 614. No commissions
will be paid for any prospect previously contacted by NRC.
No commissions will be paid on any property to brokers
participating in the purchase of the property, and an affidavit
may be required stating that the broker is acting solely as
broker and not as purchaser. NO OTHER FORM OR ORAL
REGISTRATION IS PERMITTED.
CLOSING DATES AND TRANSFER OF POSSESSION
Closing of this transaction shall take place at a location (or by
mail), and on a business day selected by Seller on or prior to
the 60th day subsequent to the Effective Date, time being of
the essence. Seller shall provide Buyer with not less than seven
(7) days prior notice of the closing date. Seller may elect to
extend the closing up to an additional sixty (60) days in its
sole discretion. Seller and Buyer may agree to extend closing
further if necessary to complete sale. Delivery, possession and
risk of loss of the Property will be transferred to Buyer at the
time of closing.
CONVEYANCE OF PROPERTIES
Properties will be conveyed by Seller to Buyers, free and clear
of all liens except for certain permitted exceptions described in
the PSA. Properties will be sold “AS IS, WHERE IS, WITH ALL
FAULTS,” regarding any conditions affecting the Properties, with
no representations or warranties whatsoever, express or implied.
LICENSES, PERMITS AND AUTHORIZATION
The successful bidder must obtain, at its expense, any
licenses, permits and authorizations (collectively, “Licenses”)
required to acquire, manage, and operate the Property.
Obtaining the Licenses is not a condition to the successful
bidder’s obligation to close.
AMENDMENTS
Seller reserves the absolute right, in its sole discretion, to amend
the Terms and Conditions of Sale, the PSA, and any other sale
documents or closing document.
INVENTORY
Petroleum and merchandise inventory will be paid for in addition
to the Purchase Price at closing. Seven days prior to closing, NRC
shall provide Buyer with an estimated amount of petroleum and
merchandise inventory. Five days prior to closing, Buyer shall
wire transfer to NRC an amount equal to 110% of the estimated
petroleum and merchandise inventory amount. Failure to fund
the inventory shall be considered a default under the PSA. On
the day of closing, Seller and Buyer will perform an audit of
the inventory using an outside audit firm designated by Seller.
The cost of the audit will be split between Seller and Buyer.
Purchaser is required to purchase all Petroleum inventory at the
posted wholesale price of Seller on the closing date plus delivery
costs and all taxes. In addition, purchaser will be required to
purchase store inventory within its code date at the current
wholesale price.
DISCLAIMER
Seller and NRC and their respective members, managers,
directors, officers, employees, agents, subsidiaries, and
affiliates (collectively, “Representatives”), disclose that they
may not have complete knowledge of the physical or economic
characteristics of the Properties being sold. Accordingly (except
as otherwise specifically stated in the PSA), Seller and NRC,
and their Representatives disclaim any warranty, guaranty or
representation, express or implied, concerning (a) the condition
or state of repair of the Properties, including, without limitation,
any condition arising in connection with the generation, use,
transportation, storage, release, or disposal of petroleum
products, toxic or hazardous substances, on and under, above,
upon, or in the vicinity of the Properties, and its impact on
water, soil and geology, (b) the suitability of the Properties
and their water, soil and geology for any activities and use that
the buyer may elect to conduct; (c) the extent of any right of
way, lease, possession, lien, encumbrance, easement, license,
reservation, or condition in connection with the Properties; (d)
the compliance of the Properties or their operation with any
applicable laws, ordinances, or regulations of any government
or other body, including without limitation, compliance with
any land use, Americans with Disabilities Act, wetland, or
zoning law or regulation, or applicable environmental or coastal
laws, rules, ordinances, and regulations; (e) title to or the
boundaries of the Properties; and (f) the physical condition
of the Properties, including, without limitation, the structural,
mechanical and engineering characteristics of the improvements
to the Properties.
Except as stated above and as set forth in the PSA, the sale of
the Properties is on an “AS IS, WHERE IS, WITH ALL FAULTS,”
basis. The buyers expressly agree that Seller and NRC and
their Representatives make no warranty or representation,
express or implied, or arising by operation of law, including,
without limitation, any warranty of condition, habitability, or
merchantability or fitness for a particular purpose, with respect
to the Properties. The buyers will buy the Properties based on
their own investigations. By accepting title to any Property,
the buyers acknowledge that they have conducted any
investigation that they have considered necessary or advisable
and that they are not relying upon any representations of
Seller, NRC or either of their Representatives. The materials
and information concerning the Properties contained in this
sales brochure, postcards, other brochures, the PSP, and the
Bid Package, and any other information provided by Seller
and NRC or their Representatives, is based in part upon
information and materials obtained from sources considered
reliable, without independent verification. Bidders must
not base their bids upon that information or environmental
studies, repair estimates, other studies, or pro-forma and
financial information that Seller or NRC provides, but must
rely solely on their own estimates and studies. No warranty
or representation, express or implied, is made by Seller,
NRC, or any of their Representatives, as to the accuracy or
completeness of the information provided to bidders.
363 W Erie Street
Suite 300E
Chicago, IL 60610
800.747.3342, ext. 614
www.nrc.com/614
Sale is conducted in conjunction with the following state-licensed brokers:
MI – Larry Norris of Michigan Real Estate Services; OH – Tanya Woodford of Woodford Contemporary Real Estate.
