Would you like to receive updates on other auctions in this area? Join our free mailing list! (Already on the list? Change your settings)

ESTABLISHED RETAILER WATER SPORTS AUCTION - 75+/- ACRES OFFERED IN 6 TRACTS IN KOSCIUSKO COUNTY, INDIANA
Tue, Sep 5, 6:00 PM
7581 E 800 N, North Webster, IN 46555 - Kosciusko County, IN

Owner: Bart Culver and Bart's Watersports

SOLD FOR $1,995,000

• Business • Inventory • Store • Office • Warehouse • 44+/- acres Contiguous with the Business Building • 31+/- acres Potential Development, 2 Miles South of Business

OPEN HOUSE/INSPECTION DATES
Thursday, August 10th from 1-3PM
Monday, August 28th from 4-6PM
Tuesday, September 5th from 2-4PM
Meet a Schrader Representative at the store for additional information

PROPERTY LOCATION
TRACT 1: From Downtown North Webster, IN, travel north on SR-13 0.5 miles to Epworth Forest Road. Turn east on Epworth and travel 1/4 mile to the property on the north side of the road.
TRACTS 2-6: From Downtown North Webster, IN, travel north on SR-13 1.5 miles to Bart's Watersports on the east side of the road 7581 E 800 N, NORTH WEBSTER, IN 46555

AUCTION LOCATION
North Webster Community Center Community Hall
301 N Main St, North Webster, IN 46555
Located downtown North Webster on the east side of Main Street near the intersection with First Street. Just 1.5 miles south of Bart's Watersports. The entrance is on the east side of the building with parking off of First Street.

PROPERTY DESCRIPTION
Founded in 1972, Bart's Water Sports has been a beacon for water sports enthusiasts for half a century. Bart Culver, the founder, launched the enterprise in a two-story house in North Webster. Since then, it has grown exponentially, moving to a larger location after just two years and then again to a 44-acre parcel with a 36,000+/- square feet warehouse and 5,300+/- square feet for the store and office space. Bart's now employs six year-round employees, with additional seasonal staff during the busy summer months.


Bart's Water Sports is more than just a business; it's a community. The company is known for its dedicated employees and loyal customer base, some of whom have been with Bart's since its inception. This sense of camaraderie and dedication to the brand has been a key ingredient in its success. Bart's has had notable customers, including celebrities and heads of state, further attesting to the quality of its products and services.


Over the years, Bart's has been a pioneer in embracing new commercial circumstances, transitioning from print catalogues to the internet in the 1990s. Today, Bart's continues to serve its customers with the latest and greatest in water sports equipment, providing expert guidance and instruction to both novice and seasoned boaters and skiers.


The product lines at Bart's Water Sports cover a wide range of water sports needs, including wakeboarding, water skiing, flotation devices, towables, water park and trampoline equipment, floats, paddle sports, boating essentials, and apparel and wetsuits. The inventory is vast and diverse, ensuring that any water sports enthusiast can find exactly what they need to enjoy their time on the water.


Purchasing Bart's Water Sports means acquiring not just a business, but also a storied history, a dedicated community, and a vast inventory of high-quality water sports equipment. It's a unique opportunity to carry on a legacy of excellence in the water sports industry.

TRACT DESCRIPTIONS
Tract 1: 31± ac near Lake Webster. Just 2 miles south of Bart's business location, this potential development site has multiple beautiful settings. Approximately 25 acres tillable. Road frontage on 3 sides. Imagine the possibilities!
Tract 2: 18± ac withdrawn from the auction.
Tract 3: 20± ac UPDATED TRACT with 1,000ft +/- of frontage on SR 13. 8,000+/- daily traffic count per INDOT (2021) and access to CR 800 N. Tract features partial water and woods. Buyer to assume 3+/- acres of CRP through September 2035. Tract can be purchased separately from Tract 4, imagine the possibilities!
Tract 4: 6± ac containing the 42,145+/- sq ft building with 36,79+/- sq ft warehouse and 5,353+/- sq ft office space and store. It has Hwy 13 frontage and includes a portion of a 1 acre pond. This location is known as a retail shop, featuring 35+/- parking spaces and loading bays. Office space features unique call-center layout plus executive offices with beautiful woodwork throughout. Office furniture is included with this tract, other than conference room desk and table. Combine with Tracts 5+6 to continue the Bart's legacy or use to take your business to the next level!
Tract 5: 0.0± ac The business intangibles including: business "Bart's Watersports" name, domain names, customer mailing and emailing lists, registered trademarks, recently updated website, and social media accounts. Contact the Auction Company for more details.
Tract 6: 0.0± ac The business inventory of water sports equipment. Please contact the Auction Company for a complete list, to be updated through the auction. This tract may be further divided into additional tracts, based on product lines, prior to the auction - contact Auction Company.

• Tract 1
  
• Tracts 2-4
  

PROCEDURE: The property will be offered in 6 individual tracts, any combination of tracts (subject to "swing tract" limitations) and as a total 75+/- acre unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. The auction will be offered in individual tracts, combinations of tracts, and as a whole.

BUYER'S PREMIUM: A 5% Buyer's Premium will be added to the final bid price and included in the contract purchase price.

DOWN PAYMENT: 10% down payment on the day of auction for individual tracts or combinations of tracts. The down payment may be made in the form of cashier's check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

ACCEPTANCE OF BID PRICES: All successful bidders will be required to enter into Purchase Agreements at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers' acceptance or rejection.

EVIDENCE OF TITLE: Seller shall provide an owner's title insurance policy in the amount of the purchase price.

DEED: Seller shall provide Warranty Deed(s).

CLOSING: The targeted closing date will be approximately 30 days after the auction.

POSSESSION: Possession is at closing, subject to tenants rights to harvest growing crop on Tract 1.

REAL ESTATE TAXES: Real estate taxes will be prorated to the date of closing.

PROPERTY INSPECTION: Each potential Bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and all responsibility for Bidder's safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.

SURVEY: The Seller shall provide a new survey where there is no existing legal description or where new boundaries are created by the tract divisions in this auction. Any need for a new survey shall be determined solely by the Seller. Seller and successful bidder shall each pay half (50:50) of the cost of the survey. The type of survey performed shall be at the Seller's option and sufficient for providing title insurance. Combination purchases will receive a perimeter survey only.

AGENCY: Schrader Real Estate & Auction Company, Inc. and its representatives are exclusive agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an "AS IS, WHERE IS" basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the person's credentials, fitness, etc. All decisions of the Auctioneer are final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.