Kingsport, TN Commercial Real Estate Auction

Date: 03/02/2017

Time: 12:00PM

Location: 111 Ford Avenue - Kingsport, TN 37663

REAL ESTATE AUCTION

111 Ford Avenue
Kingsport, TN 37663

Thursday, March 2nd at 12:00PM

Kingsport, TN Commercial
Building and Additional Lot

Sullivan County – City of Kingsport

Parcel ID: 092k e 010.10 (111 Ford Avenue) and 092k e 011.00 (adjoining lot)

2-story brick office building

Approx. 5766 Total SF
Main Level: 2883SF
Upper Level: 2883SF

Building is currently used as one unit, but could easily be divided into 3 suites
formerly used as a real estate office 

Property features: 3 interior staircases, 6 heat pumps (3 main level and 3 upper level), one electric meter (3 main electrical panels), one water meter, parking availability for approx. 20 vehicles, and office furnishings and phone system will remain with the building

Conveniently located right off of I-81 exit #59

Lot Size: 175 x 191.44 IRR (111 Ford Avenue) and 40.25 x 216.58 IRR (adjoining lot)

Total Tax Appraisal: $396,700.00

Total Taxes: $7,307.21

Zoning: B-3

Year Built: 1993

Main Level Features:

10 offices

3 bathrooms

Conference room

Copy room

Reception area

Administrative office

Supply room

Storage closets

Upper Level Features:

9 offices

3 bathrooms

Copy area

Large shared office space or conference room

Break room

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. 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. All information is deemed reliable, but not guaranteed. Buyer to verify ALL information to their satisfaction prior to bidding.