DOWNTOWN KNOXVILLE COMMERCIAL
PROPERTY
SURPLUS ASSET OF
KNOXVILLE UTILITIES BOARD
Approx. 10,693 sq
ft Commercial Property in Downtown Knoxville
Southwest Corner of
South Central Street and
West Church Avenue
Knoxville, TN 37902
Friday, September 10th, 2010 - 12:00 Noon
·
10,693 Square Feet
·
0.245 Acres
·
122.29 feet of frontage on the south side of West Church
Avenue
·
76 feet of frontage on the west side of South Central
Street
·
Lot Dimensions 42 X 74.3 X IRR
·
According to Bruce McClellan, this property is big enough for
approximately 21 parking spaces with each space being 20 Feet long and 9
Feet wide. At a general rate of $65-$85 dollars a month per spot, this
property could generate approximately $1,365.00 - $1,785.00 of income
per month.
Zoning:
C-3 General Commercial District with a D-1 Downtown Design Overlay
Utilities:
KUB would be the providers of Water/Sewer, Natural Gas,
and Electricity
Estimated Real Estate Taxes:
The property is currently exempt from real estate taxes.
According to Carla with the Property Assessor’s Office the estimated
annual City Taxes at a tax rate of 2.46 and based on a purchase price of
$150,000.00 would be approximately - $922.50
According to Carla with the Property Assessor’s Office the estimated
annual County Taxes at a tax rate of 2.36 and based on a purchase price
of $150,000.00 would be approximately - $885.00
Estimated total taxes based on a purchase price of $150,000.00 would be
- $1,807.50
Directions: At the beginning of Cumberland
Avenue with the Pilot Gas Station and Old College Inn Restaurant on your
RIGHT travel Northeast on Cumberland Avenue for 1.1 miles. Then
Cumberland Avenue becomes West Main Street. Continue on West Main
Street for 0.4 miles. Then Turn LEFT on Gay Street and travel for 0.1
miles passing Bistro at the Bijou on your Left. Then Turn RIGHT onto W
Church Avenue and travel 0.1 miles to the property on your RIGHT on the
corner of W Church Avenue and South Central Street.
Terms:
4% 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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