Multi-Use Industrial Land and Buildings in Lexington NC
***POSTPONED TO DEC. 31st 2024 @ 4 PM***
LOCATION - 313 New Cut Rd, & 7578 East Us Hwy 64, Lexington NC 27292
Located adjacent to the subject property is NUCOR. NUCOR is North America’s largest steel and steel products company. CLICK HERE for Fact Sheet. NUCOR IS NOT FOR SALE.
OFFERING - +/- 42 acre property that features over 220,000 square feet of industrial-use buildings, and warehousing. The seller will provide a survey prior to closing that separate +/- 42 acres from parent tract. A 30’ access Right of Way will be reserved for the +/- 32 acre remainder. Refer to maps in Offering Memorandum.
Click Here for Offering Memorandum
Click Here for Property Map
Click Here for Zoning
Click Here for Bid Certification Sheet
Click Here for Property Video
OPTIONAL - Additional +/- 32 acres, unimproved wooded land available. Unimproved wooded land adjoins +/- 42 acres to the south and is zoned Heavy Industrial (HI). This +/- 32 acres can be purchased with the +/- 42 acres.
ELECTRIC – 3 panels with a total of 6,600 amperes installed and in use, with 3 Megawatt available per Duke Energy 12 Kilovolt circuit. Note *1 Megawatt is enough electricity for 750 homes.
PUBLIC WATER – 12” main comes off East US Highway 64. There is a 400,000-gallon holding tank that supplies the sprinkler system. Sprinkler systems are in all buildings, warehouses, and kilns.
FUEL TANK – 20,000-gallon diesel tank located beside water tank is used for equipment and water pump fuel supply.
NATURAL GAS – Provided by City of Lexington. The gas line runs parallel to the rail then south to Building # 4 Boiler Room.
SEWER – Private Sewer Treatment facility on site. Public Sewer available. The sewer runs along the Eastern border from East US Highway 64, due west behind Warehouses (Building # 5 and # 6) along wood line to New Cut Road.
HEAT – Building # 1 has heat pumps in office and conference areas, 2 gas heat units in production and warehousing. Building # 2, # 3, and # 4 are heated by steam heat. The steam heat is produced by excess and dried /processed sawdust which is loaded into boiler room in building # 4 then distributed to the three buildings. Cyclone system pulls dust from buildings, baghouses then filter to Cilo for storage. Dust is collected and sent to 24’ x 8’ foot drum for processing prior to boiler input. Boiler rooms uses processed dust for majority of heat with natural gas as supplemental heat as needed.
RAILROAD – Owned by Norfolk Southern Railway and CSX Transportation. This facility has a Rail Spur off the Railroad that extends nearly 700’ from top entrance off New Cut Road running parallel to Railroad. The Rail Spur is a key component for shipping and receiving.
NUCOR – Located adjacent to the subject property is NUCOR. NUCOR is North America’s largest steel and steel products company. CLICK HERE for Fact Sheet. NUCOR IS NOT FOR SALE.
SUPPORT – Adequate parking, large lumber yard, mechanical shed, scales, rail spur, and road system
BUILDINGS - Building #’s are indexed on site improvements and aerial map in this memorandum.
HISTORY - This facility has been used over the past 20 years as a lumber processing plant.
HIGHEST AND BEST USE - Warehousing, development, manufacturing, assembly, or other industrial uses. The property is located, zoned, has public utilities, and access favorable for multiple uses which may include new business and / or service development.
ZONING - Limited Industrial (LI) and Heavy Industrial (HI). The section located between the Rail and East US Highway 64 is zoned Limited Industrial (LI). The portion where buildings are located is zoned Heavy Industrial (HI). The optional wooded +/- 32 acres behind the +/- 42 acres is also zoned Heavy Industrial (HI). Zoning is noted on Tax Card. Zoning Description and Table of Permitted Uses included in this document. For complete Davidson County NC Zoning Ordinance go to: https://www.co.davidson.nc.us/DocumentCenter/View/3619/Davidson-County-Zoning
CONTACT - Auctioneer Matt Gallimore at 540-239-2585 or email Gallimore.Matt@gmail.com.
DIRECTIONS – From Lexington NC, head NE on S Main St. toward E. Center St., use the right lane to take the ramp onto US – 64 East, in 7.6 miles turn right onto New Cut Road, property is on left.
313 New Cut Rd, & 7578 East Us Hwy 64, Lexington NC
OFFERING MEMORANDUM - Download Offering Memorandum for complete information on each offering. Offering Memorandum has maps, complete terms and conditions, sample contracts, tax cards, and restrictions. Some of the plats in Offering Memorandum may have notations and boundaries created by Auctioneer for illustration purposes, however unchanged surveys are in Offering Memorandum. Download the Offering Memorandum HERE.
SALE - Property being offered in a sealed bid auction where bids are due by Tuesday December 31st, 2024, at 4 PM. Purchasers will have until February 28th, 2025, to complete due diligence. Closing on or before March 31st, 2025. Bids can be submitted online at NCAuctionPro.com, emailed to BlueRidgeLandandAuction@gmail.com or mailed to Blue Ridge Land and Auction at PO Box 234, Floyd, VA 24091. If bids are emailed or mailed, use the form provided in this document.
SEALED BID AUCTION - Property being offered in a sealed bid auction where bids are due by Tuesday December 31st, 2024, at 4 PM. Purchasers will have until February 28th, 2025, to complete due diligence. Closing on or before March 31st, 2025. Bids can be submitted online at NCAuctonPro.com, emailed to BlueRidgeLandandAucton@gmail.com, or mailed to Blue Ridge Land and Auction at P.O. Box 234, Floyd VA 24091. If bids are emailed or mailed, use the form provided in the Offering Memorandum.
EXAMINATION PERIOD - Examinations can be started prior to auction and continued until February 28th, 2025. The purchase contract will be subject to studies / inspections listed below. Examinations allowed are as follows:
1.) Non – Invasive environmental impact study,
2.) Structural and building inspections,
3.) Inspections on heat, water, sewer, and electrical systems.
4.) Feasibility studies
PROOF OF FUNDS - If the purchaser does not require financing, verification of funds to close from a bonified financial institution shall be provided along with the bid.
FINANCING – Purchase contract will not be subject to financing unless loan approval and verification of funds to close are provided along with bid. Both items to be from a bonified financial institution.
TITLE – Purchase Contract will be subject to transfer of clear and marketable title from seller to purchaser. A copy of the Purchase Contract is included in this Offering Memorandum.
SELLER LEASEBACK – Seller would like to leaseback property from purchaser for a period of 6-12 months for $30,000 / month. The seller will pay utilities, and hazard insurance during leaseback. The purpose of the 6-month leaseback is for Seller to remove or sell all equipment and inventory from property.
INFORMATION PROVIDED – Auctioneer with cooperation from Seller has made best efforts to provide accurate information that is believed to be accurate but not guaranteed. Information contained in this report was obtained by public record, mapping systems, and site visits. Interested bidders should complete their own due diligence to their own satisfaction.
PRE-AUCTION SALES - As an agent for the Seller, the Auctioneer must present all bona fide written offers to the Seller, which may be created outside of the online bidding platform. Therefore, all properties are subject to pre-auction sales. Pre-auction offers must meet all off the auction terms and conditions and must be submitted to the Auctioneer on the Auction Real Estate Sales Contract, along with the required earnest deposit. Properly submitted offers will be presented to the Seller in a timely manner. Seller may accept or reject such offer at their sole and absolute discretion. When a pre-auction offer is submitted, all properly registered online bidders will be notified that “an offer” has been submitted and on which specific property, however the amount of the offer shall remain confidential. All pre-auction offers must allow a minimum of 24 hours for seller’s acceptance. A Broker Fee of 2% (of the High Bid Price) is offered to a cooperating NC State Licensed Real Estate Broker on any pre-auction offers that are properly completed and submitted on the appropriate forms provided. Download Bidder Pack for Online Bidder’s Agreement, maps, sample contracts, and property information.
Levi Cox
