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Sealed Bid Auction
Bid Deadline: Monday February 25, 2008 (12NOON)

Yogi's Off Island Grill
204 US Highway 17 South
Holly Ridge, NC

The owner is retiring due to health concerns. Here is your chance to own a restaurant at the beach including the real estate for less than what many beach restaurants sell for in rented buildings.

Bidding ends at noon on Monday, February 25.

Download the bid sheet, tax records and other information:

• Bid Sheet (PDF 771KB)
• Aerial View (493KB)
• Lot Lines (PDF 80KB)
• Tax Card (PDF 34KB)
• Tax Card #2 (PDF 32KB)
• Tax Data (PDF 38KB)
• Tax Data #2 (PDF 37KB)
• Tax Map (PDF 54KB)
• Tax Map #2 (PDF 50KB)

Tax records & deeds also available at www.co.onslow.nc.us

Valuable commercial real estate on Busy Hwy 17 the main artery along the coast of NC east of I-95 across the street from a large industrial complex.

• 1.33 acres in 2 parcels
• +/- 2000 sq. ft. commercial building built in 1999
• Zoned NBHD
• Complete, up to code commercial restaurant package
• Combined tax value of the 2 parcels and the equipment is over $450,000
• Heavy traffic on Hwy 17
• Drive through window
• Room to expand
• Great location - Minutes from Wilmington & the beach

Terms and Conditions of Sale:

1. Yogi's Off Island Grill hereafter called "Yogi's", is being offered for sale at sealed bid auction.
2. Yogi's shall include all equipment, real estate and improvements.
3. The seller guarantees that, at closing, all assets will be free and clear of encumbrance.
4. The seller guarantees that, at closing, all vendors and suppliers will be paid.
5. All efforts will be made by the seller to provide specific requests for information.
6. All bidders will use the designated form to place a bid. This form must be complete, legible, and all data must be verifiable before the bid will be accepted. This form is available on the web site or by fax or email at the bidder's request.
7. All bids must be faxed to (866)972-3322 by the deadline posted on the web site.
8. Once the high bid is established and the seller has accepted the bid the following will take place:
   • A 5% buyer's premium will be added to the final bid to determine the Contract Sales Price.
   • The high bidder will be notified by telephone and by fax.
   • The Sales Contract will be sent to the high bidder by fax.
   • The high bidder will sign the Sales Contract and return a copy by fax.
   • The seller will execute the document and a final copy returned to the high bidder by fax.
9. The high bidder will then make an Earnest Money Deposit of 10% of the Contract Sales Price, by wire transfer to the Auction Company Trust Account, or by overnight delivery, no later than 48 hours after the Contract is signed by both parties.
10. Closing will be within 30 days of execution of the Sales Contract, at a mutually agreed upon location within a one hour drive of Holly Ridge, NC.
11. The balance of the Contract Sales Price will be due, in full, at closing.
12. In the event the high bidder fails to complete any of the described requirements within the time allowed, the seller shall have the exclusive right to void the high bidder's bid and to negotiate with any of the other bidders.