Commercial Real Estate Auction – Kingsport, TN

Date: 03/02/2017

Time: 10:00AM

Location: 4200 West Stone Drive - Kingsport, TN 37660

Office: Knoxville

Agent: Kenny Phillips or Phillip Hopper

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4200 West Stone Drive Kingsport, TN 37660

Thursday, March 2nd at 10:00AM

Kingsport, TN Commercial Property Large Lot and 2 Buildings

Hawkins County – City of Kingsport

Parcel ID: 022  079.00

Building 1: Approx 716SF building

Building 2: Former car wash with 2 bays

Building is currently leased as a sales lot for storage buildings – tenant is paying $800/mo (month to month)

Conveniently located right on W Stone Drive

Approx. 417.57′ of road frontage on W Stone Drive and East Avenue

Over sized lot with lots of asphalt

Lot Size: 236.48 x 220.67 IRR (approx. 0.96 acre)

Traffic Count Approx. 30,000 daily

Total Taxes: $6,366.49

Total Tax Appraisal: $350,400.00

Zoning: B-3

Auction is for the real estate only and does not include the business currently located on the property

TERMS: The successful high bidder on this property will be required to sign the Real Estate Sales Contract, Terms & Conditions, and any other documents needed immediately 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 contract price. US currency cash or approved check. The balance is to be paid in full at deed closing within 30 days. HERITAGE TITLE to Conduct the Closing. Current taxes will be prorated at the the date of closing. Seller to provide deed. Buyer is responsible for title opinion, title insurance and recording fees. Customary closing costs to be split between the buyer and seller. Buyer is to obtain their own financing. The contract will not be contingent upon financing, inspections or any other contingencies. Powell Auction & Realty, LLC and its auctioneers and employees are representing the sellers as the sellers’ Agents. 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 and age are approximate and not guaranteed. Seller and/or Agent makes no warranty as to the accuracy of information. Lead-based paint inspection waiver will be a part of the sales contract. All information is deemed reliable, but not guaranteed. Buyer to verify ALL information to their satisfaction prior to bidding.  BUYER  IS IN FULL ACCEPTANCE OF THE STATE OF TENN  DEPARTMENT OF ENVIRONMENT AND CONSERVATION REPORT  AND ACKNOWLEDGES THEY HAVE RECEIVED A COPY OF THE REPORT AND ARE PURCHASING AS-IS.

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