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FORECLOSURE REAL
ESTATE AUCTION

By Order of the Secured Party
22 Unit Motel on Approx. 5 Acres
Known as the "Clark Motel"
Wednes
day, October 17th, 2007 – 12:00 Noon

7130 Clinton Highway
Powell, TN 37849

Motel:

22 Guest Rooms – 13 Single Rooms ($165 per week)
9 Double Rooms ($175 per week)

 4 of the Units are Efficiency Apartments ($185 per week)

 Owners Apartment – 2 Bedroom / 1 Bath – Rents for
 $190 per week

 Approx. 600 ft. of road frontage on Clinton Highway

 Roof is approximately 10 years

RV Campground:

   25 Camp Sites

   Block Bath House with Storage

Mobile Home Sites:

   16 Mobile Home Sites that are presently rented for
   $150 per month 

  Car Wash:

    4 bay Car Wash

   Laundry Mat – Approximately 1,890 square feet


Zoning: CA - General Business Zone
Taxes: Current Approximate County Real Estate Taxes - $8,237.00
              2006 - $9,101.89
              2005 - $12,281.62
              2004 - $12,029.39

**Buyer shall be responsible for current and all delinquent back
taxes plus penalties and interest in the approximate amount of $41,649.90
.

Available Utilities: Electric/Water/Sewer

Directions: From I-640 take exit 3B/Clinton onto Clinton Highway.
Travel North for approximately 4.9 miles to Clark Motel on right just past Beaver Creek Road.


Terms: 10% Buyer’s Premium - Successful bidders will deposit 10% of the purchase price (including Buyer’s Premium) and is due today in the form of cash, cashier’s check, personal or company check plus a real estate sales contract must be signed. Balance is due in certified funds at closing.  CLOSING MUST OCCUR WITHIN 20 DAYS OF SALE DATE. NO EXTENSIONS AVAILABLE.

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Documents are in Adobe PDF format.  To get a free copy of Acrobat Reader please click here


 

Click the links below for PDF Files
Aerial Photo
Property Layout
Tax Information
Tax Map
Utility Information
Zoning Map
Zoning Regulations

 


 
  Furrow Auction Company  (800) 438-7769  TN Lic. #62