Commercial Property Auction! Amato's Italian Restaurant in Kingsport, TN

Visit http://www.coleauctions.com for more information.

COMMERCIAL PROPERTY AUCTION!

FRIDAY, January 8th at 11 a.m.

We are selling

3+/- COMMERCIAL ACRES with an approx. 6000+ square foot restaurant facility w/ seating for 225+/- and parking for 110+/- customers.

Note: amount of acreage is subject to completion of survey. Square footage is estimated. If ANY dimensions are important, please MEASURE!

The AUCTION will be CONDUCTED ON THE PREMISES at

AMATOS ITALIAN RESTAURANT
121 Jack White Drive, Kingsport, TN 37664

For over 20 years, AMATOS Italian Restaurant has been cherished by its many repeat customers in the Tri-Cities area.

With the recent passing of its founder, Joseph Amato, the decision has been made to cease operations and sell the restaurant and property.

The land, improvements, and equipment will be sold ALL FOR ONE BID!
(Note: there will be NO separate sale of individual or grouped restaurant equipment)

This is an excellent successful restaurant location, "in the loop" with Applebee's, Chili's, O'Charley's, Cheddar's, Golden Corral, Fazoli's Sagebrush, Texas Roadhouse, Chick-Fil-a, IHOP, Pratt's Barn, Waffle House, Captain D's, Arby's, Purple Cow, Quizno's, McDonald's, Burger King, Pal's, Sonic, Long John Silver's, Starbucks, Panera Bread... and a soon to be built Olive Garden.

In addition, the subject property is an ideal site for other types of commercial development:

GOOSE CREEK CENTER is a new, attractive 20,000 sq. ft. retail and professional center within a hundred feet or so of Amato's. It features 5 Guys Burgers and Fries and Realty World Metro as two of its tenants.

In the recent past, we sold another property on this street that consisted of 1.7+/- acres and an approx. 8,000 sq. ft. improvement. It is now a very attractive facility specializing in fitness and sports medicine.
It sold at our auction for $1,000,000.

There is a vacant development tract of approx. 3.8 acres on this street currently offered for sale at $1,520,000.

TERMS: A 10% buyer's Premium will be added tot eh winnig bid to determine the Fianl Sale sProce. Buyer will pay 10% of the final Sales Proce with contract at teh conclusion fo the auciotn and the balnce wil be due at cloisng within 30 days of the auciton.

DIRECTIONS: On N. Eastman Road, turn at O'Charley's onto Jack White Drive. Amato's is at the end of the street just beyond 5 Guys Burgers and Fries.

All real and personal property is sold "AS IS, WHERE IS, AS INSPECTED, DAY OF AUCTION.

Note: Selling real estate, improvements and personal property only. The name of the business, recipes, records, etc., will NOT be a part of the sale.

More details to be posted as processed. Check back often!

Category:

Travel & Events

Tags:

• Auction
• Real Estate
• Commercial
• Kingsport
• Johnson City
• TN
• Bristol
• Tri-Cities
• Italian
• Restaurant