LENDER OWNED SEALED BID AUCTION: 34,220 Sq. Ft. Restaurant & Event Center on 12.73 Acres North Royalton, OH
Details
8922 Ridge Road
North Royalton, OH 44133
Inspections
Tuesday, August 3 9:00 am to 1:00 pm
Other Times By Appointment
Bid Deadline
Thursday, August 5 4:00 pm Sealed Bid Deadline
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Details
Former Carrie Cerinos Ristorante Party Center and Nightclub on 5.73 acres
Selling as a Turn-Key Package!
Plus- 7 acres Adjacent Development Land
The Cerino Family Operated the Facility for 57 Years, Closing in February of 2020. North Royalton is Just 15 Miles South of Cleveland and Only 3 Miles from I-71 and I-77, Which Makes its Location Perfect for A New Owner.
Carrie Cerino's Italian Ristorante & Party Center
34,220 Sq. Ft. Building
Long Established Family Owned Business Operated through 2/2020
$400,000 of Building Improvements between 2013-2018
Turn-Key 34,220 Sq. Ft. Restaurant/Event Center/Cocktail Lounge
*POS System is Leased and May Be Excluded from the Auction.
With Leased Oil Well
5.73 Acres
5 Ballroom/Meeting Room Spaces:
Grand Ballroom Total Seating 350 with Dancing Area or 500 (Or it can be split in Two Areas)
Front Banquet Rooms A, B, C, Total Seating 150 with Dancing Area or 50 per Room Split
Full Service Sit Down Restaurant with 3 Dining Rooms: 70 Papas Garden Room, 106 Main Dining, Room, 66 Keeping/Wine Room
Fully Equipped Centrally Located Shared Commercial Grade Kitchen with Bakery
Lower Level Under Cs Cocktail Bar/Night Club, Seating 170
Second/Main Floor Office Areas
2 Drive Under Covered Entrances
CCTV Camera System
Fire and Security Systems
2-Liquor Licenses
Currently Zoned General Retail
3 Phase Power
City Utilities
Legal Description: 11 48212020
Parcel Number: 482-12-019
Taxes 2019: $57,161.12
Oil Well Lease Income approx. $800/year
Includes Fenced Well and Above Ground Storage Tank Equipment
Legal Description: CERINO UNIT 1 1.00 41.34457, -81,73772
Parcel Number: 482-12-735
Taxes 2019: $87.70
7 Acres Bare/Wooded Development Land Located Behind the Restaurant
Zoned General Retail or Business
Ridge Road Frontage with Future Signage
Large Rectangular Wooded Lot Located Behind the Paved Parking Area
Access is Off of Ridge Road and on the South End of the Property
City Utilities are Available
Legal Description: 11 482-12-020
Parcel Number: 482-12-020
Taxes 2019: $0 (Taxes are Included in other Parcel)
Both Parcels will sell together as a Package
Request Bidders Kit for Complete Details.
To view other documents that may aid in your due diligence, please complete and return this release.
10% Buyers Premium. Sealed bids will be accepted by Maas Companies until Thursday, August 5 at 4 pm. Sealed Bid Offers must be received by the deadline and be accompanied by a $20,000 earnest money deposit certified (check or wire) along with a fully completed Sealed Bid Form. A deposit equal to 20% due within 2 business days and balance due at Closing on or before 30 days. Bids must be delivered by traceable courier to Maas Companies Inc at 6923 10th Ave S.W. Rochester, MN 55902. The deposit money shall become Earnest Money and is nonrefundable. Deposit Monies payable to Lane & Nach P.C. Greg Grandmont is attorney overseeing the closing.
Selling Subject to Owner Confirmation and Subject to Prior Sale. Selling AS-IS, WHERE IS WITH NO WARRANTIES OR GUARANTIES EXPRESSED OR IMPLIED. See Bidder Kit for complete terms.
In all transactions, Auctioneer is acting as an Agent for the Seller. Buyers are urged to inspect items prior to purchase. Seller and Auctioneer are not responsible for items. All information received from reliable sources believed to be correct but not guaranteed by the Auction Company. Any announcement made at the auction takes precedence over any material published about this event. In the event of a dispute, Auctioneer has final decision. Valid Government Issued Photo ID required to obtain bidding number.
In all transactions, Maas Companies is acting as an Agent for the Seller. Buyers are urged to inspect items prior to purchase. Seller and Auctioneer are not responsible for items. All information received from reliable sources believed to be correct but not guaranteed by the Auction Company.
Maas Companies of Ohio Inc., 2011000032
Broker Participation is welcome but not required. A 2% commission will be paid to the licensed broker who, at the time of registration, registers the bidder who pays for and settles for the real estate. A broker buying on his/her behalf, or on behalf of any business entity in which he/she holds an interest, is not entitled to a commission.
Re: LENDER OWNED SEALED BID AUCTION: 34,220 Sq. Ft. Restaurant & Event Center on 12.73 Acres North Royalton, OH
8922 Ridge Road
North Royalton, OH 44133
To Whom It May Concern: Pursuant to your request, please sign and date this release to receive documents relating to the above noted property. The Seller did not prepare these documents and has no knowledge of their accuracy or completeness. None of the documents shall constitute a representation or warranty of any kind by Seller as to the accuracy or completeness of any information delivered. Accordingly, Seller expressly disclaims any responsibility therefor, including any consequences of any reliance by anyone on them. Please note that the documents and the information contained therein are confidential, and by acknowledging receipt, you agree to keep such information confidential and that you shall not, without the prior written consent of Seller, share any of the documents with anyone other than Potential Buyer and representatives of Potential Buyer who need such information for the purpose of evaluating the premises and who are informed of the confidential nature of the information and also agree to be bound by the terms of this confidentiality provision. By this acknowledgement, you further agree that you will return to me the originals and any copies of the materials forthwith upon demand if the contemplated transaction is not consummated. Please do not hesitate to contact our office with any questions you may have.
