7,262±SF Former Bank Branch on .48± Acre at 6705 Morganton Rd, Greenback, TN 37742 (Loudon County)
Auction: Absolute Auction of Former Bank Buildings & Sites in AR-IA-IL-IN-LA-MO-MS-TN

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Sold for $93,610



Property #807

Online Only Absolute Auction
7,262±SF Former Bank Branch on .48± Acre
6705 Morganton Rd, Greenback, TN 37742 (Loudon County)
Bidding Opens: Monday, August 19 at 12 Noon ET
Bid Deadline: Wednesday, August 28 at 12 Noon ET
Inspection: Thursday, August 22 at 2:00 PM ET SHARP
Sale Manager: Jeb Howell, (404) 408-5222 or
Property Description: 7,262±SF former bank branch office building constructed ca. 1978 on .48± acre lot at the corner of Maple, Walnut and Morganton with two drive-through bays and approximately 24 parking spaces. Tax data indicates it is .65 acre. In 2006, there was an issue with the septic tank/system and work needed to be performed.  At that time, the septic system was cleaned out, new field lines and drainage lines installed only to the left of the building (when facing the building). They installed a new ejector pump and pipes in the basement.  The septic system is on the left side of the building (facing the building). Septic system is pumped annually.
Seller intends to keep ATM at site and pay $500 per month for ATM and shared access (Corner of Morganton Road and Walnut Street). Bank will require a deed restriction against a competing bank or ATM for 5 years.
Loudon County Tax Map Parcel ID# 053070L D 01200 aka 070L-D-009.00 & 012.00
2019 Loudon County Tax Appraised Value: $464,600
2018 Loudon County Property Taxes: $228.00
City Taxes: Unknown
Julian E Howell, TN Auctioneers License #5451

Terms:  Proof of Funds Required to Bid, 10% Buyers Premium added to winning bid to determine sale price, Earnest Money Deposit 10% of Purchase Price, 1% Broker Co-Op, close in 20 days.