Absolute Leasehold Auction Commercial Building
Absolute Leasehold Auction
Tuesday, June 27th at 10:00 AM
(On Going Business) Please contact Todd Thompson Auctions for private showing
116 Community Center Drive Pigeon Forge TN
Todd Thompson is please to bring to auction this retail commercial building located in the heart of action packed Pigeon Forge. Strong surrounding development and within walking distance of 318 hotel rooms and the Pigeon Forge Community Center, Premiere visibility and exposure. This is an excellent opportunity to enter into the Pigeon Forge marketplace at ABSOLUTE AUCTION!
• 2,880 Sq. Ft. Free Standing Building
• 47 Parking Spots
• Building only 14 years old
• Situated on .67ac.
• Zoned C-2
Purchase the existing leasehold improvements and assume long term ground lease with options (No FF&E transferring) currently 6 years initial remaining with 4 renewable 5 year options. TOTALING 26 YEARS presently tenant on Month to Month Rental Basis paying $5,000 per month Current Ground Lease Rate is $4,300 per Month!
Real Estate Terms: 10% Down day of sale, balance due at closing within 30 days. All successful bidders will be required to sign a note for the deposit amount in addition to deposit paid day of sale. The note will become null and void when the buyer completes all requirements for closing as set out in their contract.
10% Buyer's Premium will be added to each successful bid.