Bankruptcy Real Estate Auction

Thursday, December 21^st at 12:00PM

Sold by the order of the United States Bankruptcy Court for the Eastern District of Tennessee at Greeneville – Case # 2:17-bk-51159-MPP

Selling the real estate assets of the former Holston Steel Services

300 Piedmont Avenue
Bristol, TN 24201

Vacant heavy industrial and office space with a total approximate combined 89,365 SF

Located on approximately 6.07 acres spanning 16 independent parcels (all sold together)

Adequate access from Piedmont Avenue and Oak Street

Approx. 66,573 SF of heavy industrial space (single story – metal construction – concrete floor)

Approx. 22,792 SF of office space (one to three stories – brick & metal construction)

Zoning: M-2 (general industrial) and R-2 (single and two family residential)

All municipal utilities are available

Level to sloping topography

Approx. 1256’ of road frontage

Active railway spur of approx. 916’ that enters the building for rail loading and rail access in the industrial area

Industrial space features 8 rollup or sliding doors:
- (1) 17’3” Sliding Door
- (3) 19’5” x 20’ Rollup Door
- (1) 12’6” x 12” Rollup Door
- (2) 20’9” x 22’6” Rollup Door
- (1) 21’11” x 20’6” Rollup Door

Industrial space features 5 overhead girder bridge cranes:
- (4) single girder 10-ton capacity
- (1) double girder 20-ton capacity

Asphalt and gravel parking areas

Office area has central heat & air and elevator

Total Tax Appraisal: $1,054,800

BANKRUPTCY REAL ESTATE TERMS: The successful high bidder on this property will be required to sign the Real Estate Purchase Agreement immediately upon conclusion of the bidding and will make an earnest money deposit of ten percent (10%) of the total sales price. A ten percent (10%) buyer’s premium will be added to the high bid to establish the total sales price. Bankruptcy Sale is Subject to Court Approval. The balance is to be paid in full at deed closing within 20 (TWENTY) days, after Court Approval. Property to be transferred with a Trustees Deed ONLY. Seller will provide Trustees Deed ONLY. Title Opinion, Title Insurance, Document Recording & ALL CLOSING COST will be the Responsibility of the Buyer. Buyer is Responsible for ALL Property Taxes Current, Delinquent, fees & any penalties. Buyer is responsible for any and all liens.  No Extensions. Buyer is to obtain his/her own financing. The contract will not be contingent upon financing. All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS” with no financing, inspection or other contingencies to sale. Auctioneer represents the seller only and does not inspect properties on Bidder’s behalf. All Measurements are from tax records and are approximate and not guaranteed. Buyer to verify ALL information to their satisfaction prior to bidding. Neither the Auctioneer or Bankruptcy Court have conducted any structural or environmental inspections. It is the Buyer’s responsibility to conduct any property inspections prior to auction date.

 TNFL735