SOLD | $2,182,750 | Prime Development Land | 5703 Millertown Pike – Knoxville, TN 37924

BID LIVE OR ONLINE

65.88+/- acres offered in 4 tracts

• Prime development land or gentleman’s farm located in Northeast Knox County
• 65.88+/- acres offered in 4 tracts
• 1,406.06′ +/- of road frontage
• Sewer, natural gas and electric serviced by KUB
• Water serviced by Northeast Knox Utility District
• Gorgeous property that is convenient to all that East Tennessee has to offer
• Less than 5 minutes to I-640, 15 minutes to downtown Knoxville, 20 minutes to West Town Mall and 20 minutes to I-40 Exit 407 (exit for Gatlinburg/Pigeon Forge/Sevierville)
• 3 houses, multiple outbuildings and absolutely gorgeous land
• Zoning: A – Agriculture, RA – Low Density Residential & RB – General Residential
• Sector Plan: LDR – Low Density Residential
• The property will be offered in groupings and as a whole at the live auction only!
• A survey origination fee will be added to the sales contract price and to be paid at closing by the buyer.

TRACT 1 | 5630 Millertown Pike

• Lot Size: 20.99+/- acres
• 873.69′ +/- of road frontage
• Multiple barns and outbuildings
• Parcel/Tax ID: 060  019
• Yearly Property Taxes: $234.27 per year (Knox County only)
• Zoning: A – Agriculture & RB – General Residential
• Survey origination fee of $2,500.00 will be added to the sales contract price and to be paid at closing by the buyer.

TRACT 2 | 5701 Millertown Pike 

• Lot Size: 0.67+/- acre
• 125′ +/- of road frontage
• Approx. 1056SF ranch style home
• 3 bedrooms | 1 Bathroom
• One-car attached garage
• Hardwood floors
• Living room with fireplace and dining area
• Kitchen
• Breakfast room/mud room
• Year Built: 1952
• Parcel/Tax ID: 060  020
• Yearly Property Taxes: $548.17 per year (Knox County only)
• Zoning: RB – General Residential
• Survey origination fee of $1,250.00 will be added to the sales contract price and to be paid at closing by the buyer.

TRACT 3 | 5703 Millertown Pike 

• Lot Size: 43.09+/- acres
• 197.37′ +/- of road frontage
• Multiple barns and outbuildings
• Craftsman style home with partial wraparound porch
• No heat and air
• There are a few areas that have soft floors
• 2 Bedrooms | 1 Bathroom
• Living room with fireplace
• Dining room
• Sunroom/breezeway
• Year Built: 1930
• Parcel/Tax ID: 060  021
• Yearly Property Taxes: $883.06 per year (Knox County only)
• Zoning: A – Agriculture, RA – Low Density Residential & RB – General Residential
• Survey origination fee of $5,000.00 will be added to the sales contract price and to be paid at closing by the buyer.

TRACT 4 | 5709 Millertown Pike

• Lot Size: 1.13+/- acres
• 210′ +/- of road frontage
• Approx. 1444SF Craftsman style home
• 3 Bedrooms | 1 Bathroom
• Living room with fireplace
• Dining room
• Sitting room
• Kitchen with breakfast nook
• Pantry/laundry room
• Den
• Detached approx. 2300SF garage/workshop
• Year Built: 1926
• Parcel/Tax ID: 060  022 and 060  023
• Yearly Property Taxes: $496.11 per year (Knox County only)
• Zoning: RB – General Residential
• Survey origination fee of $1,500.00 will be added to the sales contract price and to be paid at closing by the buyer.

Knox County Parcel / Tax IDs:

060  019, 060  020, 060  021, 060  022, and 060  023

Total Yearly Property Taxes:

$2,043.12 per year | Knox County only

Lot Size:

65.88+/- acres

Road Frontage:

1,406.06′ +/-

Zoning:

A – Agriculture, RA – Low Density Residential and RB – General Residential

Sector Plan:

LDR – Low Density Residential

KATHRYN HALL | Rural 1st Loan Officer | NMLS 1413546
kathryn.hall@rural1st.com | 865-299-3637
Specialized financing for land, farms, and new construction
Down payments as low as 15% | Long term, fixed rates for land loans

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.

M & M Title Company 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 on or before July 17th, 2023.

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. Tennessee Residential Property Exemption and Lead-Based Paint Waiver will be part of the sales contract. Any remaining personal property will convey at closing. **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!