SOLD | $138,050 | 514-524 Devonia Street | Harriman, TN 37748

Date: 03/22/2022

Time: 12:00PM (Noon)

Location: Online Bidding Only

Office: Knoxville

Agent: Kenny Phillips - #2385 | Phillip Hopper - #6709 | Ronnie Colyer - #1365

Online Only Real Estate Auction
512-524 Devonia Street | Harriman, TN 37748

Value add Harriman Strip Center with 6 Suites

BIDDING BEGINS TO CLOSE:
Tuesday, March 22nd at 12:00PM (NOON)

OPEN HOUSE:
Saturday, March 19th from 9:00AM-11:00AM

Located in Downtown Harriman

Value add Strip Center with 6 Suites

Currently 3 Suites are Leased with total income of $1,700.00 per month

The current owners are currently using Suite 524 for storage and will sign a 12 month lease for $600.00 per month, automatically increasing rental income to $2,300.00 per month

Current expenses for the property are property taxes ($3,673.52 per year), insurance ($1,400.00 per year), and utilities ($150.00 per month)

Approx. 9430 SF of Rentable Space

Suite Breakdown:
- 514 - 1200 SF - $650.00/mo (month-to-month) - tenant since 2014
- 516 - 1500 SF - $500.00/mo (month-to-month) - tenant since 2021
- 518 - 1080 SF - $550.00/mo (lease expires 10/31/2023) - tenant since 2020 - Rent increases to $600.00/mo 10/2022
- 520 - 1200 SF - Currently Vacant
- 522 - 1020 SF - Currently Vacant
- 524 - 3430 SF - Currently occupied by the owner for storage - Will sign a 12 month lease at closing for $600.00/mo

Approx. 150' x 55' of paved parking area

Lot Size: +/- 0.44 acre (150 x 127.5)

Parcel/Tax IDs: 026F G 035.01

Zoning: C-1

Yearly Property Taxes: $3,673.52 (total yearly taxes - Roane County and City of Harriman)

Year Built: 1974 (3500 SF) and 1982 (6000 SF)

SALE CONDUCTED IN CONJUNCTION WITH:
Ronnie Colyer Auction & Realty | 423-506-0990

Real Estate Terms:
Powell Auction will email winning bidder  your contract. The successful high bidder on this property will be required to sign the Real Estate Sales Contract, Terms & Conditions and any other documents needed, upon conclusion of the bidding and will make an earnest money deposit of ten percent (10%) of the sales price. A ten percent (10%) buyer’s premium will be added to the high bid to establish the total sales price. US currency cash or approved check. The balance is to be paid in full at the deed closing . By bidding you are entering into a binding agreement.

Title One will be conducting the closing.
Current taxes, will be prorated at the date of closing, unless otherwise specified. Seller to provide deed. Buyer is responsible for title opinion, title insurance & recording fees. Buyer is responsible for HOA requirements, transfer fees, membership fees, if applicable. Title company closing cost to be split between buyer & seller. Buyer is to obtain his/her own financing. Closing to occur by April 22nd, 2022.

The contract will not be contingent upon financing, inspections or any other contingencies.

Powell Auction & Realty LLC and its auctioneer(s) and employee(s) are representing the seller(s) as the sellers Agent(s).
All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS”, without any warranties expressed, implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on bidder’s behalf. All measurements, square footage & age are approximate and not guaranteed. Seller and or Agent makes no warranty as to accuracy of information. All information is deemed reliable, but not guaranteed, buyer to verify ALL information, to their satisfaction before bidding. **Powell Auction reserves the right to withdraw, without notice, any items in the auction at any time.**

Thank you for participating in this Powell Auction & Realty LLC Online Auction. 
It is important that you familiarize yourself with these terms & conditions of Sale. If you do not agree with any of the terms and conditions stated, DO NOT BID. You will be bound by these terms and conditions. Good luck and good bidding. Agent/Auctioneer may withdraw, extend, or rearrange any property and or item(s) at their sole discretion at any time, without notice and will not be liable for any computer, internet or website malfunctions. Bidding may extend, if bids are placed within the last minute, to prevent bid sniping. Powell Auction & Realty LLC will have up to 7 DAYS to provide the Buyer with any documents to be signed, after the auction has ended. Payment must be made within 48 Hrs after being contacted by Powell Auction & Realty LLC. All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS”, without any warranties expressed or implied or guarantees of any kind. Agent represents the seller only and does not inspect properties on bidder’s behalf. All information is deemed reliable, but not guaranteed, buyer to verify ALL information, to their satisfaction before bidding. We do not approve any international bidding. It is up to the auctioneer to approve or disapprove bidders.

New Bidders, please Pre-Register, we will have to approve you to Bid!