1221 N Grady, Altus, OK

This is an online only auction. Bidding is open now through September 17, 2026 at 2:00pm (CT). Located at 1221 N. Grady Street in Altus, this distinctive 3,134� square-foot commercial building on approximately 0.47 acres offers an exceptional opportunity for a restaurant operator, investor, or entrepreneur looking for an established food-service location with extensive commercial infrastructure already in place.Originally used as an office and automobile sales location, the property underwent a major transformation, with construction of the restaurant completed in 2014. The building now features multiple dining areas, a commercial kitchen, customer restrooms, serving and reception areas, office space, and an abundance of character throughout.The interior immediately stands out with its brick arch accents, colorful Talavera tile reportedly imported from Tonal�, Jalisco, Mexico, ceramic tile flooring, hand-painted decorative elements, and custom finishes. One dining area features an electric fireplace surrounded by Talavera tile along with hand-painted mural tilework. A custom wood front counter, decorative entry door imported from Mexico, and other architectural details give the property a unique identity that would be difficult to duplicate.The commercial kitchen is equipped with substantial restaurant infrastructure, including a 15-foot CaptiveAire stainless-steel commercial vent hood with dual exhaust, fire-suppression system and make-up air, six-burner Vulcan commercial gas range, commercial convection oven, three-compartment sink with drainboards, handwashing sink, stainless-steel work tables, commercial freezer, dry-storage shelving, mop sink, and an attached outdoor walk-in cooler/freezer combination. The kitchen also includes dedicated HVAC and space for additional equipment such as a dishwasher. The building's mechanical and utility improvements are another major feature. Electrical service includes a reported 400-amp, three-phase main service, providing capacity that may accommodate future operational needs or expansion, subject to buyer verification. HVAC consists of multiple systems serving the dining areas, restrooms, and kitchen, including two 5-ton package units, a 5-ton split system, and a mini-split system. Plumbing improvements were completed in the kitchen and customer restrooms, with plans reportedly available. A substantial concrete and reinforced approximately 350�400-gallon, three-compartment grease trap is also in place.Construction includes concrete-block exterior walls with reinforced sections, a deep foundation, exterior hard-stucco finish, and numerous improvements made during the restaurant conversion. Outside, the property offers paved parking reported to accommodate approximately 45�50 vehicles, front and rear signage locations, decorative window protection, ceramic planters, and a clay-tile-covered entrance. Location is one of the property's strongest advantages. Positioned near Falcon Road, a primary route serving Altus Air Force Base, the property sits within an established commercial area surrounded by shopping and other traffic generators. It is also approximately two blocks from the Altus reservoir/lake area, providing additional visibility and potential customer traffic. With its commercial kitchen infrastructure, extensive mechanical improvements, distinctive dining spaces, established restaurant layout, and central Altus location, this property offers a tremendous head start compared with converting a traditional commercial building into a restaurant. 3,134� SF | 0.47� Acres | Commercial Kitchen | Multiple Dining Areas | 400-Amp Three-Phase Electrical | Walk-In Cooler/Freezer | Paved Parking | High-Traffic Altus Location Possible Owner Financing Available.

1. This property is being sold with a reserve. Preview Day One Day ONLY! September 15th 10:00am-12:00pm. 2. There is an 11% buyer's premium. 11% or $2500, whichever is greater, will be added to your high bid to arrive at the contract price. KEEP THIS IN MIND WHILE YOU'RE BIDDING. Example: High bid $100,000.00 X 11% = $11,000.00. $100,000.00 + $11,000.00 = $111,000.00 is the contract price. 3. The property is not subject to prior sale. (The property cannot be purchased prior to the end of the auction.) 4. There will be a 5% deposit due within 24 hours after the close of the auction from the successful bidder. Immediately following the bidding, the successful bidder will execute a contract for the purchase of the property and deposit 5% of the contract price with the escrow agent. Personal checks are accepted. The contract is NOT assignable, NOT contingent upon financing, NOT contingent upon inspections. 5. The balance of the purchase price is due at closing within 30 days. Each purchaser is responsible for obtaining his/her own financing if necessary. You must be pre-approved for financing. If you are unsure of your ability to obtain the necessary financing, do not bid as you could lose your earnest deposit if you don't close. 6. A seller's disclosure of condition of the property has been provided in the materials. The property is being sold "as is" and "where is" with all faults, if any. No warranty as to condition or suitability for any purpose is expressed or implied. Buyers shall rely entirely on their own information, judgment and inspection of the property and records prior to the auction. None of the personal property will be conveyed with the sale. Bidding signifies agreement to all disclosures. 7. The contract to purchase this property is subject to the seller being able to provide an insurable title. Purchaser will pay all closing costs associated with this transaction with the exception of the seller providing owners title insurance and pro-rated taxes. All other expenses will be paid by Buyer. 8. All adjustments of taxes or other pro-ratable items on this property shall be prorated as of the date of closing. 9. Bidding signifies you have read and are in agreement with terms and conditions of the auction. If you do not agree, do not bid!! 10. If you wish to be a back up bidder, please contact us after the auction and we will put you on the list in the event the high bidder does not close. We will contact you and invite you to purchase the property. There is no obligation to purchase and no signature is required. This is a matter of reference only. 11.The auctioneer controls the bidding, corrects any mistakes made, and determines how to handle tie bids. 12. Neither Auctioneer nor Seller shall be liable for any personal injury on the sale premises. Buyer assumes all risk and liability whatsoever resulting from the use of the item(s) sold hereunder, and shall defend, indemnify, and save harmless Seller and Auctioneer from any liability. 13. Online Auction Technology (Disclaimer): Under no circumstances shall Bidder have any kind of claim against United Country | H5 Auction & Realty, Broker of record, or anyone else, if the Internet service fails to work correctly before or during the auction. Online bidding is subject to technology faults and issues which are outside the control of the auction company. Bidder(s) are encouraged to use the �Maximum Bid� feature on the bidding platform and lock in their maximum bid amount, if they are concerned about technology failure during the auction. The SELLER and/or Auction Company reserves the right to (pause) the online auction bidding in the event of any internal or external technology failure, to preserve the integrity of the auction event and maintain a fair and impartial bidding environment. 14. Any unresolved complaint with H5 Auction & Realty should be directed to : Texas Department of Licensing and Regulations; P. O. Box 12157; Austin, TX 78711; 512-4636511, www.tdlr.texas.gov.