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About REAL ESTATE AUCTION – Income Producing Commercial Building

Real Estate Auction

Income Producing Commercial Building

7937 Rhea County Highway, Dayton, TN 37321

Auction Date/Time: Wednesday, October 25th, 2017 at 12:00 PM

Inspection Date/Time: Wednesday, October 18th, 2017 from 12:00 pm – 3:00 pm

Live and On-Line Bidding Available


AUCTION DETAILS:


Income Producing Commercial Building

  • Approx 7,500 s.f.
  • 7 Individual Units
  • 5 Units Currently Rented Generating $3,185.00 in Monthly Gross Income
  • Ideal for Office or Retail Space
  • Ample Parking
  • Great Location in North Dayton’s Prime Commercial Corridor
  • Located Adjacent to Rite Aid Pharmacy
  • Near Hospital, Hotels, Restaurants & Other Retail Establishments

Tenant/Income Information:


There are currently 5 tenants leasing space in the building, generating $3,185.83 in Gross Monthly Income. All tenants but one are month to month.


Please see RENT ROLL under Property Documents Tab.


 TN License #62

PAYMENT TERMS


TERMS: 10% Buyer’s Premium On-Site, 13% Buyer’s Premium On-Line – Successful bidders will deposit 10% of the purchase price (including Buyer’s Premium) and is due Sale Day 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. LAST AVAILABLE DAY TO CLOSE IS TUESDAY, NOVEMBER 14TH.  NO EXTENSIONS AVAILABLE.


2% Broker Participation Available

ONLINE BIDDING

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UTILITIES


  • Electric: City of Dayton (each of 7 units individually metered)
  • Water: City of Dayton
  • Sewer: City of Dayton
  • Gas: Middle Tennessee Gas (each of 7 units individually metered)

TAXES


  • Approx. City of Dayton Taxes: $1,145.47
  • Approx. Rhea County Taxes: $5,195.40

Buyer is responsible for pro-rated share of current year property taxes. Back/Delinquent Taxes will be paid by seller.

DIRECTIONS


From I-40 at Exit 49, take TN-30 west towards Decatur, TN and travel approx. 31 miles. Turn right onto US-27/Rhea County Hwy and travel approx. 1.5 miles to property on left, adjacent to Rite Aid Drug Store.

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