TRACY CITY, TN--(Marketwire - March 23, 2011) - At a bank-ordered real estate auction on April 19, 7,416 acres of scenic land along the Sequatchie River Gorge in Marion County, Tenn., will sell in 11 tracts that range from 28 to 3,000 acres. The property, which is suitable for timber, recreation and development use, will be offered by J. P. King Auction Company.
"It's a beautiful piece of land," said John Hetzler, a real estate broker who has represented the property. "It's on the river with a lot of waterfalls, springs and creeks, and it's right on the Cumberland Plateau. It would make a great recreational property, but it would also be a good timber investment."
Recent timber cruise estimates that the property has 292,250 tons of Hardwood Pulpwood; 15,768 MBF of Hardwood Sawtimber; 41,184 tons of Conifer Pulpwood and 15,745 tons of Pine Sawtimber.
Seven wooded residential lots in the Bryant Cove Subdivision will also be included at the auction. The home sites are located next to the Little Sequatchie River Gorge Property; each lot is approximately five acres.
The Little Sequatchie River Gorge is located just 22 miles northwest of Chattanooga, near Tracy City and Monteagle. The northeast portion of the property is within walking distance to Grundy Forest State Park and is convenient to Savage Gulf, Foster Falls and Fiery Gizzard Trail.
Any pre-sale sealed bids may be submitted by April 5. Any and all remaining properties will be sold on April 19 at public auction.
The auction will take place on Tuesday, April 19 at 1 p.m. at the Double Tree Hotel, located at 407 Chestnut Street in Chattanooga. For additional information, individuals may contact J. P. King at 800.558.5464 or visit the company's website at www.jpking.com.
J. P. King Auction Company specializes in high-value properties and portfolios such as luxury homes, developments, condominiums and land and ranches. The company has marketed properties in all 50 states and six countries with recent sales in Colorado, Alaska, Tennessee, Oregon, Wisconsin, Alabama and Wyoming.
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