REAL ESTATE AUCTION – 10.5 Acre Development tract

May 21, 2021

12:00 EST

Property Can Be Viewed At Any Time

 

Rob Strickland 865.310.3208 or Chuck Fisher 865.310.3204

Auction Information

REAL ESTATE AUCTION - 10.5 ACRE DEVELOPMENT TRACT

Located in the in the Heart of Sevierville just off the Parkway

Directly Adjacent to Tanger Outlets

To Be Offered in Two Tracts, Separately & As a Whole

234 Caton Rd, Sevierville, TN 37862


FRIDAY, MAY 21ST at 12:00PM
Auction to be conducted On-Site

INSPECTION: Property can be inspected at any time

BID LIVE OR ONLINE


PROPERTY DESCRIPTION
  • 10.54 Acres
  • Sub-Divided into Two Tracts
    • Tract One:
      • 5.16 Acres
      • Improved with a approx. 2400 sf Building & Detached Garage
      • 181 Feet Frontage on Caton Rd.
    • Tract Two:
      • 5.16 Acres
      • Improved with an approx. 9,500 sf Self-Storage Building
      • 181 Feet Frontage on Caton Rd.
  • Located just off the Parkway in the Heart of Sevierville
  • Directly Adjacent to Tanger Outlets
  • All Utilities Available
  • Traffic Counts of 55,000+ Vehicles Daily at Parkway
  • Commercial Zoning
  • Tremendous Opportunity for Campground, Self-Storage, or Apartments in the Tourism Mecca of the Great Smoky Mountains!

Samuel J. Furrow | TN PBL #26

FREQUENTLY ASKED QUESTIONS (click here to download)

 234 Caton Rd. 

  • Q. Will the property be sub-divided? 
    • A. Yes. The property has been sub-divided into 2 tracts, each 5.16 acres in size. 
  • Q. How much frontage does the property have on Caton Rd.? 
    • A. The total frontage on Caton Rd. is 362.16 feet. Each tract has 181.08 feet of frontage. 
  • Q. What utilities are available to the property? 
    • A. All utilities – Water, Sewer, Electric & Gas are available to the subject property. Water, sewer & gas maps are available for review on our website – www.furrow.com. 
  • Q. Is the property in a flood zone? 
    • A. Yes, approximately 8 acres of the property lie in the 100 year flood plain and would require filling to bring the property to the proper elevation for building, which is 1 foot above the flood elevation. 
  • Q. What is the approximate cost to fill the acreage that lies in the flood plain? 
    • A. A quote to fill the property was submitted by Blalock & Sons indicating that the approximate cost to fill the property to get it to the acceptable elevation would be $394,000. See quote on website. 
  • Q. What is the property zoned? 
    • A. The property is zoned I-C, Intermediate Commercial Zone and lies in the City of Sevierville Zoning District. Ideal for Campground, Self-Storage, Apartments, etc. 
  • Q. Are there any requirements to improve Caton Rd. in the event a commercial and/or multi-family development takes place? 
    • A. Yes, according to Kristina Rodreick with the City of Sevierville Planning & Development Dept., Caton Rd. would have to be widened to a width of 26 feet from the Parkway all the way to the eastern edge of the subject property where it adjoins the Smoky Mountain Primitive Church, and meet the city’s requirements for heavy duty pavement which is 8” base stone, 3” asphalt binder and 1.5” asphalt top mix. 
  • Q. Does the necessary right of way exist to widen Caton Rd.? 
    • A. Yes, the right-of-way along Caton Rd. is 50 feet, providing plenty of room to accommodate any required widening. A QUOTE FOR THE WIDENING/IMPROVEMENT OF CATON RD. IS IN THE PROCESS OF BEING PREPARED. 
  • Q. Can the property be re-zoned? 
    • A. Any re-zoning of the subject property would be at the discretion of the City of Sevierville Planning & Development Dept. 
  • Q. Is it possible to make an offer to buy the property prior to the auction? 
    • A. Yes, any pre-auction offers will be presented to the sellers for consideration. In the event a pre-auction offer is accepted, the auction would be cancelled. 
  • Q. Can I drive on the property to inspect it? 
    • A. Yes, the property is accessible and can be driven over/inspected at any time. However, access to the buildings will have to be arranged by contacting Chuck Fisher at 865-310-3204. 
  • Q. Do I have to be present to bid at the auction? 
    • A. No, on-line bidding is available. Visit www.furrow.com to register to bid on-line. 
  • Q. Is there a Buyer’s Premium if purchased at auction? 
    • A. Yes, the buyer’s premium is 10%. This will be added to the highest bid received resulting I the total purchase price. 
  • Q. What are the set-backs for the property? 
    • A. 20 ft. Front, 25 ft. Rear, 10 ft. Side (1 – 4 levels), 15 ft. Side (5 – 6 levels) See zoning ordinance on website. 
  • Q. Can the property be further sub-divided? 
    • A. Further subdivision is at the discretion of local/state planning authorities. 
PAYMENT TERMS
  • 10% Buyer’s Premium - 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. NO EXTENSIONS AVAILABLE.
UTILITIES AVAILABLE
  • Electricity: Sevier County Electric
  • Water: City of Sevierville
  • Sewer: City of Sevierville
  • Gas: Sevier County Utility District

Indicated utilities are available to the property but all may not be currently connected.

Costs associated with extending indicated utilities is dependent on property usage.

ZONING
  • IC: Intermediate Commercial Zone (City of Sevierville)
REAL ESTATE TAXES
  • Sevier County Real Estate Taxes: $3,488.62
  • City of Sevierville Real Estate Taxes: $932.17

Any back/delinquent taxes will be paid by seller 

Buyer is responsible for pro-rata share of current year taxes at closing

DIRECTIONS
  • From Hwy 66 (Winfield Dunn Parkway), turn onto Fox Road (across from Walgreens/IHOP/Comfort Inn and between McDonald’s and Days Inn). Travel 1/10 mile and turn left onto Riverview Circle. Travel 1/10 mile and turn right onto Caton Road.  Property on the left.

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