4246 N Fm 1565 , Caddo Mills, TX 75135(Hunt County)

Auctions: 12:00 PM 10/28/2023 Stock Sale of Southwest Soaring, Inc., the entity that owns Private Property at County Road 2616, Caddo Mills, TX 75135 This auction is the sale of 100% of the ownership of Southwest Soaring, Inc. Southwest Soaring, Inc. owns the assets listed below, including private property on a federally funded airport. That property includes 20+/- acres and 3 buildings including a 12-unit T-Hangar and referred to herein as the "Property". The Property is a 30-minute drive from Dallas, a 45-minute drive from DFW, 5 minutes off Interstate 30, and adjacent to a railway. This is not a sale of the Property, but rather, the sale of Southwest Soaring, Inc., the entity that owns the Property. With respect to the TFF Agreement described below, it governs the rights, benefits, and obligations of Southwest Soaring, Inc. with respect to the Property, a copy of which is available through the Broker and which needs to be examined by any prospective purchaser. BUILDING A: . Total 24,500 square feet . Direct access to runways . Former aircraft pilot training facility . New R Paneled Roof . Insulated and non-insulated hangars Downstairs Offices - 2,000 square feet ? Men and women's restrooms ? Large common area 30' x 22' ? New HVAC Unit ? 3 offices ? Floor to ceiling windows, runway view Upstairs Offices - 2,000 Square Feet ? Men & women's restrooms, with showers ? Full service kitchen ? Conference room 12' x 24' ? New HVAC unit ? 5 offices ? 2 offices with windows, runway view BUILDING B: . 10,000 square feet . 4 offices . 30' x 60' finished office space . 3 restrooms . 1 laundry room . Air conditioned machine shop area 50' x 50' . New R Paneled Roof. BUILDING C: . T-Hangars . 15,000 square feet . 12 units total . Positive income from rentals w/waiting list . New R Paneled Roof LAND: Approximately 12+ acres of raw ground can be developed into T-Hangars. PROPERTY DETAILS: . Stock Sale of Southwest Soaring, Inc., the entity that owns the Property in fee simple at the federally funded Caddo Mills Airport . Property deeded to Southwest Soaring by the City of Caddo Mills, Available through the Broker is Hunt County Official Records, document 7910 (Vol. 735, page 906 - Deed Release by FAA/Dept of Transportation to the City of Caddo Mills dated May 11, 1973) and document 7911 (Vol. 735, page 912 - City of Caddo Mills approval of Correction Deed (document 1958) as the Contract and Deed conveying the Property to Southwest Soaring, Inc.) . Along with the documents referenced above, by contacting the Broker, any prospective purchaser can obtain the following additional documents regarding the Property: (a) Judge Lattimore's letter to the FAA (Lattimore was involved in the transfer of the Property to Southwest Soaring, Inc.), (b) TXDOT letter dated February 2, 1998 letter to the FAA, and (c) FAA letter dated February 19, 1998. . Southwest Soaring, Inc. has a Through The Fence Agreement ("TTF Agreement") with the City of Caddo Mills that renews on a year-to-year basis pursuant to its terms and sets out the parties rights and obligations with respect to the Property. . The annual fee for the TTF Agreement is currently 1% of the Property's value and may be subject to City Ordinance 081319-3, both of which are available by contacting the Broker. . City sewer main line installed January, 2019 . 30 minutes by car from downtown Dallas . 45 minutes by car from DFW and Love Field . 5 minutes off Interstate 30 . Adjacent to Railway Note: A Buyer's Premium (Buyer's Fee in WI) will apply for this property. Please see Terms of Sale for details. Broker Licenses: TX Williams & Williams Worldwide Real Estate, LLC; David Montalvo, Lic. No. 595597.