Please Review All Online Terms Prior To Bidding.
Location: 1740 South Prescott Ave, Memphis, TN 38111
Bidding Closes: On Tuesday July 28th 5:30 PM CST
10% Buyers Premium will be added to the final bid to arrive at the sales price.
15% Non-Refundable Earnest Money is due at the closure of the Online Real Estate Auction with balance due in 30 days.
Taxes: Taxes for 2025 were $8,399.56
Zoning: CMU Commercial Mixed Use
Lot size: 105.22 x114.51 IRR
Possession: With Deed
� This property is selling subject to deed and legal description. Any and all pictures and documents presented should be used for informational purposes only. All presented information is believed to be correct but is not warranted or guaranteed.
� All Properties auctioned are sold "AS-IS, WHERE IS, WITH ALL FAULTS AND LIMITATIONS" and without warranty of any kind or nature.
� This property is subject to Seller Approval.
� The terms for this sale are CASH with No inspections, No financing, No appraisal, No survey, or other contingency permitted.
� As a prerequisite for bidding, you WAVE the opportunity to all assessments or inspection, including lead-based paint.
� All terms of the sale are non-negotiable and irrevocable.
� Deed and title will be furnished by the court.
� Taxes will be prorated and any back taxes will be paid by the court.
� Buyer to pay state transfer tax, to record the deed, and 50% of closing cost.
� 15% of the Final Bid Price is Required as non-refundable Earnest Money in the form of certified check or wire transfer by 1:00pm on Monday, April 20, 2026. The balance of the purchase price due at closing. The purchaser shall be responsible for all wire transfer fees. Closing will be specified in the Contract for Sale of Real Estate.
� To be approved to bid, Please call Bobby Colson at 615-390-3679 and email a bank letter of credit to bobbycolson@yahoo.com. All bidders must be approved by Monday July 27th 12:00 Noon CST Failing to do this will result in rejected bidder registration.
DO NOT BID unless you have read and agreed to all Auction Terms and Conditions. Terms of Auction are enforceable.
Property information is believed to be accurate but not guaranteed. Buyers should independently verify all information prior to bidding.
Each Bill Colson Auction and Realty Co. Inc. auction may have different bidding increments. The software will calculate the next bid amount before submitting the bid.
Buyer specifically acknowledges herein that the property is being purchased "AS IS" with all faults and that neither the Seller nor Bill Colson Auction and Realty Co. Inc. makes any warranties or representations, express or implied.
Acceptance of Bid Prices:
The auctioneer and/or Seller shall make the sole and final decision as to the winning high bid amount. Acceptance by the online bidding platform does not necessarily constitute an accepted bid by Bill Colson Auction and Realty Co. Inc.
Bidder Verification:
The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Bill Colson Auction and Realty Co. Inc. will reject the registration, and bidding activity will be terminated. The Seller and Bill Colson Auction and Realty Co., Inc. reserve the right to prevent any person from bidding. Bill Colson Auction and Realty Co., Inc. reserves the right to modify, change, or remove usernames at any time.
You must be at least eighteen (18) years old and legally able to contract to bid and to purchase at the online auction.
Buyer and or Bidder agrees to hold harmless and indemnify Bill Colson Auction and Realty Co. Inc. and its Agents, Owners, Directors, Employees and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
Guaranty Agreement:
By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment to Bill Colson Auction and Realty Co. Inc.
You agree that all property and merchandise is being sold �AS IS�, �WHERE IS�, �WITH ALL FAULTS�, without any representations or warranties of any kind whatsoever, without any representations or warranties of merchantability or fitness for a particular purpose, without representations or warranties of compliance with safety laws, environmental laws, or hazardous materials laws, and without representations or warranties that the buyer or purchaser will be satisfied with the property, merchandise, or services.
You agree that Bill Colson Auction and Realty Co. Inc. has not made any independent investigation of any information provided to the Auction Company related to any of the property or merchandise being sold, that you do not assume that any information provided is accurate or reliable, and that you are responsible for making your own inspection and investigation related to any property or merchandise you bid on or that you purchase through the Online Auction.
You agree that Bill Colson Auction and Realty Co. Inc. shall not be responsible for any bidding errors, any communication errors, or any technology errors. You agree that Bill Colson Auction and Realty Co. Inc. or the Seller may cancel the sale at any time and may withdraw any or all of the property or merchandise from the sale at any time. You agree that in timed online auctions, the Auction Company may add time to auctions when a bid is made near the end of the time for the auction, and may continue to do so, at the Auction Company�s discretion, if further bids are made near the end of the time for the extended auction.
Server & Software Technical Issues:
In the event that there are technical difficulties related to the server, software or any other online auction-related technologies, Bill Colson Auction and Realty Co. Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Bill Colson Auction and Realty Co. Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary by Bill Colson Auction and Realty Co. Inc.
Binding Contract:
You are entering into a binding contract. There are no refunds or bid cancellations. The registered bidder is personally responsible, legally and financially, for all auction items bid upon whether representing oneself or acting as an agent. An online bid accepted at public auction is a legal and binding contract. Any bidder who fails to complete a purchase will be banned from bidding at all Bill Colson Auction & Realty Co. Inc. auctions and maybe pursued for civil and/or criminal violations.

ONLINE AUCTION 11,100 SQ. FT. WAREHOUSE ON 0.8 ACRE 1740 SOUTH PRESCOTT AVE., MEMPHIS, TN 38111 BIDDING OPEN NOW CLOSES: TUESDAY, JULY 28TH @ 5:30 PM CST DIRECTIONS: From Downtown Memphis, take I-240 East to US-78 West/Lamar Avenue. Take Exit 21 from I-240 East. Follow US-78 West/Lamar Avenue and Prescott Road to 1740 S Prescott Ave, Memphis, TN 38111. REAL ESTATE: � Approximately 11,100 SF industrial warehouse � Situated on a 0.8-acre level lot � Zoned CMU-1 � Commercial Mixed Use-1 � Highly visible location near the I-40 West / I-240 South interchange � Approximately 225 feet of frontage along I-240 North side at the Lamar Avenue exit � Approximately 274 feet along the I-240 North exchange � Property also faces I-40 West � Billboard on-site may be utilized by the building occupant � Approximately one mile from Beale Street and Downtown Memphis attractions � Strong access for transportation, shipping, distribution, and commercial use This centrally located Memphis property offers a rare combination of high-speed regional access, urban convenience, and interstate visibility. TERMS: CASH - ALL PROPERTIES AUCTIONED ARE SOLD "AS-IS, WHERE-IS, WITH NO CONTIGENCIES, AND ALL FAULTS AND LIMITATIONS" and without warranty of any kind or nature. Conduct your own due diligence and make ALL financial arrangements PRIOR to sale day. Any and all pictures and documents presented should be used for informational purposes only. Bill Colson Auction & Realty will email the successful high bidder their contract and they will be required to sign the Real Estate Contract, Terms & Conditions, and all other needed documents with NO changes, modifications, additions, or deletions. A 15% Non-Refundable Earnest Money is due day of the auction by wire transfer. A 10% buyers� premium will be added to the high bid to determine the final sales price. The balance is due at closing. Deed and Insured Title Furnished by Seller. By bidding you are entering into a binding agreement and All Terms of Sale are non-negotiable and irrevocable. Go to hibid to register and be approved to bid. Morris Realty and Auction Jeff Morris Auctioneer #5811 Office: 901-565-7770 Bill Colson Auction and Realty Co. Inc. Bobby Colson Auctioneer #20 Office: 615-292-6619