News

Sixth Avenue property sparks bidding war

By Lightning Reports, Published: January 29, 2017

A second upset bid has been submitted in the potential sale of property on Sixth Avenue owned by Henderson County.
Dr. Leon Elliston in November offered $172,000 for the property, roughly half the tax value. Lemuel Oates, the owner of Manual Woodworkers and Burntshirt Vineyards and a commercial real estate investor, submitted an upset bid of $180,650 — the minimum allowed under the law. Elliston then submitted an upset bid of $225,000. A new upset bid may be submitted by 5 p.m. Feb. 6 for a minimum amount of $236,300. Bidders also must put up a deposit of 5 percent of the total new bid plus legal advertising costs.
There is no limit to the number of times prospective buyers can submit upset bids. The Henderson County Board of Commissioners also is not legally obligated to accept a final offer. Commissioners voted in December to advertise the property for sale after Elliston submitted his initial offer.
The property at 714 Sixth Avenue West contains a two-story 5,436-square-foot house that was home to the Sixth Avenue Clubhouse, a facility operated by Thrive, a mental health provider. The 112-year-old house is valued at $170,400 and the entire parcel has a tax value of $372,400.