Old Wrangell Medical Center & Land

Full Description

Parcel Number: Lot A, Block 54 Property Type: Structure and Land Lot Size (Acres): 1.91 acres / 84,988 sq ft Building Size (Sq Feet): Two story / 30,596 sq ft Zoning: Currently OS / Will need to be Rezoned once sold Condition: SEE DESCRIPTION ATTENTION: The Borough Assembly approved Resolution No. 11-24-1896 that allows for the property and structure to be placed up for sale at 60% of full market value. Please note that if you bid on this property, you are agreeing to the following terms as approved in Resolution No. 11-24-1896: Economic Development Terms . Bidders who submit offers less than the appraised value of $830,000 shall be required to submit a detailed proposal outlining the specific economic development benefits of their proposed use of the property. Such proposals shall address the following factors as outlined in Wrangell Municipal Code 16.12.105(B): The desirability of the economic development project; The actual or potential economic benefits to the borough, its economy, and other businesses within the borough; The contribution of the proponent to the economic development project in terms of money, labor, innovation, expertise, experience, and otherwise; The business needs of the proponent of the project in terms of integration into existing facilities and operations, stability in business planning, business commitments, and marketing; Actual or potential local employment due to the economic development project; Actual and potential enhancement of tax and other revenues to the borough related to the project; and Existing and reasonably foreseeable land use patterns and ownership. The Borough Assembly reserves the right to select the proposal that best serves the public interest, considering both the financial offer and the proposed economic development benefits. Local Advertising . The property shall be made available for not less than 60 days, starting on January 2, 2025. Eligibility and Exclusions . Eligibility for participating in the public bid auction shall be persons eighteen (18) years of age or older with the following exceptions: No person who is delinquent in any property tax, sales tax, utility payment, or other financial obligation with the Borough may participate in the auction. Minimum Bid Established . The minimum bid for this property shall be set at the sixty percent (60%) of the properties appraised value: $498,000.00 Sale Terms . The winning bidder shall sign a Purchase Agreement within ten (10) days of the closing of the auction. The property may be purchased with 20% of the winning bid amount as down payment, payable within five (5) business days from the signing of the Purchase Agreement, with the balance due to the Borough in sixty (60) days. Please read through ALL attached documents and the General Description thoroughly before placing your winning bid! If you are the successful bidder, please note that at auction close, a 5% buyers premium and a $27.00 recording fee will be added to the total bid price. Once paid in full, the $5,000.00 deposit that you made, will be refunded to the original form of payment. CONTACT INFORMATION : For general questions - Amber Al-Haddad 907-897-3902 For utility questions - Tom Wetor 907-874-3904 For electrical questions - Dwight Yancey 907-874-3602 For zoning or Economic Development questions - Kate Thomas 907-874-2381 For auction questions - Kim Lane 907-874-2381 The successful bidder shall sign a Purchase Agreement within ten (10) calendar days of the closing of the auction. Final payment shall be made within sixty (60) calendar days of signing the Purchase Agreement. Payment must be made by Certified Cashiers Check or Electronic Funds Transfer. IMPORTANT ADDITIONAL INFORMATION TO BIDDER!! Property Description: The parcel being sold is 1.95 acres and is bordered by rights-of-way on three sides. The site is bordered on the north by First Avenue and on the south by Reid Street, both Borough rights-of-way, and on the west by Bennett Street, a State of Alas

Market demand: Medical like this sell about 63% of the time, typically ~4 bids. Based on 13,022 completed sales over the last year.