Approx. 792 ft of Frontage on Middlebrook Pike

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Zoning: A - Agricultural District – Current zoning would need to be changed for commercial development.  Adjacent Property zoned CA

Taxes: The property is currently owned by the Knox County Government and is not subject to taxation.  When the property is purchased by a private entity, the property will be assessed at a residential rate of 25% of appraised value based on the current agricultural zoning.  If the property is rezoned for commercial use, it would be assessed at a commercial rate of 40% of appraised value.

Available Utilities: Lenoir City Utility District – Electric; West Knox Utility District – Water and Sewer; Knoxville Utilities Board - Gas

Traffic Count: TDOT 10,210

Terms: 3% Buyer’s Premium - Successful bidders will deposit 10% of the purchase price (including Buyer’s Premium) and is due the day of sale in the form of cash, cashier’s check, personal or company check plus a real estate sales contract must be signed.  The final bid and sales price will have to be confirmed by the Knox County Finance and Intergovernmental Committee on Tuesday, February 21.  If the bid and sale price is confirmed by the Finance and Intergovernmental Committee, the County Commission will vote to accept/decline the bid and sale price on Monday, February 27.  If approved by the County Commission the purchaser will have until Friday, March 3 2006 to close, at which time the Buyer shall pay the balance of the purchase price in certified funds. No extensions are available.

Directions: From Intersection of Lovell Road/Ball Camp Pike and Middlebrook Pike.  Travel east on Middlebrook Pike approx. 550 Ft east to property on right.