401 & 405 Front St., New Richmond, OH 45157

FOR SALE BY COURT APPOINTED RECEIVER

Online bidding only. Auction ends Wednesday, May 24, 2023

Court Appointed Receiver, Prodigy Properties, is pleased to present for sale 401 & 405 Front Street, a recently updated bar/restaurant. The property is located on the Ohio River in New Richmond, just off SR 52 and east of downtown Cincinnati.   This 5,000 SF former restaurant and bar opportunity features 2 full-service bars, four restrooms (two on each floor), a full service kitchen with hood, walk-in cooler, and multiple dining areas.  The 2nd floor space features an open floor plan with vaulted ceilings and hardwood floors with operational glass garage doors that, either open or closed, provide spectacular views of the outdoor entertainment space and the Ohio River.  The property is situated on .348 acres with approximately 115 feet of Ohio River frontage.  Outside features include over 10,000 SF of fenced in entertaining / dining space, a full-service Tiki Bar, a covered stage, and artificial turf.  The property is also abutting the New Richmond DORA (Designated Outdoor Refreshment Area) (“View Here”)

Property will be sold free and clear of all liens, with property taxes prorated and paid off to the day of closing.  Receiver may, in its sole discretion, accept or reject any bid or offer for any reason, at any time, without notice.  No representations, warranties, or guarantees.  Bidding is scheduled to conclude on Wednesday, May 24, 2023 at 12pm ET.  A 10% Buyer’s Premium is added to the high successful bid to determine the final purchase price.  The high successful bidder must wire transfer a deposit of $10,000 by 2pm ET on Thursday, May 25, 2023. 

Do not trespass.  Property is available for showings – APPOINTMENT REQUIRED.  Please contact Kurt at [email protected] to schedule a showing, or if you have representation, contact your agent to schedule a showing.  

Attend an Open House: Wednesday May 10, from 3-4pm or Thursday May 18, from 12-1pm. Please email [email protected] to register. 

To schedule a showing, receive any due diligence information, or additional property photos, prospective bidders or agents must:

• Submit an executed Confidentiality Agreement to [email protected] – (“View Here“)
• Provide a date and time range for the requested tour, during normal business hours. 

Furthermore, to be granted bidding privileges, a prospective bidder must, in addition to the above:

• Create and account on www.foreclosureauctions.com
• Complete and submit a Purchase and Sale Agreement (“View Here“)
• Submit proof of immediately available funds of at least the minimum bid of $250,000
• Have otherwise met all other reasonable requirements of the Receiver. 
• To have bidding privileges unlocked, Email the following to [email protected]: 1) executed Purchase & Sale Agreement  2) a current Proof of Funds letter  3) prospective bidder’s username and email 

Key sale points:

• The opening bid is $250,000 with an unpublished reserve price.
• Property is sold 100% AS-IS, WHERE-IS, with all faults, to the extent any exist.
• Property is sold subject to any / all code violations, to the extent any exist.
• Property is to be sold subject to court approval
• Receiver reserves the right to accept or reject any bid or offer, at any time prior to or subsequent to auction end, for any reason.
• Information contained in any advertisement is not guaranteed or warranted.
• No contingencies will be accepted, except the Seller’s ability to convey insurable title.
• Property will be sold free and clear of all liens.
• Property taxes will be prorated and paid off to the day of closing.
• Absolutely no financing contingencies.
• Absolutely no inspection contingencies.
• Restaurant equipment, furniture, personal property or leased equipment is not included in the sale.
• 10% Buyer’s Premium is added to the high successful bid to determine the final purchase price.
• $10,000 earnest money deposit must be immediately wired to the Receiver’s title company and received by 2pm ET on Thursday, May 25, 2023.
• The terms of the sale are fully set forth in the Purchase and Sale Agreement (“View Here“) and are not negotiable. 

DISCLAIMER AND WARNING: Property will be sold as-is, where-is, without any warranties or representations by the Receiver. The information contained in any advertisement is for informational purposes only and the Receiver makes no representations or warranties as to their truth or accuracy. The information was compiled from a variety of sources, including the public record. However, the Receiver has not independently verified any of the information and potential purchasers rely on it at their own risk. All potential purchasers are advised to perform their own due diligence.