Knox County Natural Resources Recovery Site Auction

Wednesday, July 13, 2011
Time: 10:00am
8707 Joe Daniels Road
Knoxville, TN
Office: Knoxville
Agent: Kenny Phillips

8707 Joe Daniels Road
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Knox County Natural Resources Recovery Site Auction

Selling by Order of Knox County

8707 Joe Daniels Road (Knoxville, TN)

Off Oak Ridge Highway

161.98 Acres

Knox County Natural Resources Recovery Site

Approx. 300 Foot of Road Frontage on Joe Daniels with Depth Up To 4850' (Road Into Property)

Tax Map 076 Parcel Id 009 and 009.01, Tax Map 089 Parel Id 193

Property Is Currently Leased by Natural Resources Recovery and a Portion is Used by Big Foot Mountain Bike Park.

 

Site Description

The subject contains 3 separate parcels. The property is located at 8706 and 8707 Joe Daniels Road in Knoxville, Knox  County, Tennessee. The Irregular shaped property contains 300+/- feet in frontage along Joe Daniels Road and Depths up to 4850+/-‘. The property is in the name of Knox County. The property is further identified as Tax Map 076, Parcel 009 and Tax Map 089, Parcel 193 at the Knox County Tax Assessor’s Office. The subject property is currently leased by Natural Resources Recovery.Lease expires July 31 2011.

 

Access

Access to the subject property is along Joe Daniels Road which is off of Oak Ridge Hwy. Joe Daniels Road is a 2 lane paved county Road.

 

Utilities

The utilities available to the subject include water, electricity, telephone, gas and sewer.

 

Flood Map Information

The subject property is along appears on FEMA Flood Map 47093C0231F dated 05-02-07. According to the map, the subject is not located in the flood zone.

 

Zoning

The subject is currently zoned A for agricultural uses. The current use complies with the zoning. (Agricultural Zone Knox County Article 5.22.02: “Q. Composting facility, consistent with the requirements of Sections 4.10.11 through 4.10.16, 4.95, and 6.50, of these regulations”…in the Supplementary Regulations sections – similar to  commercial and industrial uses)

 

Real Estate Taxes

The subject is not currently appraised for tax purposes as it is owned by the county. The 2010 Knox County tax rate is $2.36 per $100  of assessed valuation. The assessment for residential and farm uses is 25% of the appraised value; and for commercial and industrial uses, it is 40%. Using the appraised value from our report of $510,000 for the industrial sire the indicated tax burden is estimated to be $4,814 ($510,000 x 40% x (42.36)/$100 = $4,814). The residential site of $687,000 x 25% x ($2.36)/$100 = $4,053). This indicates a total tax of $8,867 for the subject property.

Improvements

The subject property is improved with a 1153 Sq. Ft. office building, nine acre concrete pad, 2 retention ponds and various sheds. There are also several improvements on the property that are personal property owned by the tenant. This includes sheds, equipment .

 

Office Building

The office is log construction and contains 1 large office, open lobby area, kitchen and bathroom. The office building is of average quality and is in average condition. The office contains 1153 Sq. Ft. of finished area, 287 sq. ft. covered porch and 90 sq. ft. deck.

 

Concrete Pad

There is a large concrete pad located on the property. The concrete pad covers approx. 9 acres. The concrete page is of average quality and of average condition.

 

Retention Ponds

There are 2 retention ponds located on the property.

 

Terms: 3% Buyers Premium Added to the Final Bid to Establish Contract Price. $50,000.00 Cashiers Check as Deposit Required Day of Auction. Closing within 30 Days From County Commission Approval. Real Estate Taxes Start at Closing for Buyer. Property will be Transferred by a Quit Claim Deed.Closing conducted by Shanks and Blackstock Attorneys.    865-637-2981

*Successful Bidder Will be Required to Give Current Tenant a 45 Day Notice From July 31st to Move From Property*

 

* Please Email [email protected] For a Copy of the Appraisal*

 

Powell Auction & Realty LLC

6729 Pleasant Ridge Road

Knoxville, TN 37921

865-938-3403

F735

 

 

 

 

Important Information

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