REAL ESTATE AUCTION - Income Producing Commercial Building

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Auction Information

Real Estate Auction

Income Producing Commercial Building

7937 Rhea County Highway, Dayton, TN 37321

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

Inspection Date/Time: Wednesday, October 18^th, 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 14^TH. NO EXTENSIONS AVAILABLE.

2% Broker Participation Available

BROKER PARTICIPATION

Broker Participation Form 7937 Rhea County Hwy

ONLINE BIDDING

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.

PROPERTY DOCUMENTS

DIRECTIONS

From I-75 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.