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Laurel Grove Inn and Suites Hotel - $ 4,455,000.00

Date: 04- 5-2008
Time: 10:30 AM
Location: 2179 Parkway, Pigeon Forge, TN
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Description:

ABSOLUTE AUCTION

FEE SIMPLE

LAUREL GROVE INN & SUITES HOTEL

Thompson Carr is pleased to bring to Absolute Auction Laurel Grove Inn & Suites.  The owners health dictates the sale of this prime commercial property.  130 unit hotel situated on 4.33 acres.

Don't miss this opportunity to buy regardless of price

Laurel Grove Inn was engineered and built to allow vertical expansion, giving the new buyers the possibility to add additional levels for future growth and income or conversion possibilites.

ADDITIONAL USES:

  • Assisted Living Facility (Concept Plans Available)
  • Resort/Spa/Condominium Complex
  • High Density Residential


Included in this Auction:
Item #1
  • Premier Commercial Property
  • 4.33 acres
  • 130 Units
  • Selling Fully Furnished
  • All Interior Corridor Room Entrances
  • Electronic Car-Key Locks
  • In House Laundry
  • Swimming Pool
  • Manager's Quarters
  • 4 Stories
  • Elevator

 
Item #2
  • Traffic Counts on Parkway Average per day
  • Premier Visibility
  • Direct Parkway Road Frontage
  • Powerful Location
  • Over 11,000,000 Vistors Per Year
  • 92,000 Cars per day in Heavy Tourist Season
  • Fee Simple
Item #3
  • Swimming Pool
Item #4
  • Views, Views, Views
Item #5
  • Lobby
Item #6
  • Rooms
Item #7
  • Laundry

Notes:
  • 10% Buyer's Premium: 10% Buyer's Premium will be added to each succesful Real Estate bid.
  • Term: 10% down day of sale, balance due at closing within 20 days.
  • Bank Letter of Guarantee: A Bank Letter of Guarantee equal to or greater than the 10% deposit paid day of sale WILL BE REQUIRED.
  • Absentee Bidding: For interested parties desiring to purchase this property yet unable to attend auction, arrangements can be made to participate by phone or written closed bid.  Please call the Thompson Carr office for Absentee Bidding requirements and procedures.
  • 2% Broker Participation: 2% Broker Participation is being offered, please call Thompson Carr office for fax or e mail package.
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