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  5. ›Invitation To Bid 506 Garland

City of Covington·Tennessee

Invitation To Bid 506 Garland

Closes 6/12/2026$5k – $50kInvitation for Bid
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Description

The City of Covington is selling an unimproved commercial‑zoned vacant lot located at 506 Garland Avenue. Bidders must submit a sealed bid by the noon deadline, with a minimum price of $4,000. The sale is cash‑only, requiring full payment at closing (within 30 days of award). This opportunity is a straightforward real‑estate acquisition with no construction or service work required. • Vacant parcel of approx. 5,300 sq ft, zoning B‑2 (city/highway oriented business). • Minimum bid $4,000; bids below this will be rejected. • Payment must be made by cashier’s check, certified check, or money order at closing; no credit terms. • Deposit/earnest money required (amount not specified) and returned if bid is rejected. • Closing to occur no later than 30 calendar days after the city accepts the winning bid.

Attached files

Contact

Lessie Fisher

(901) 476-9613

Key dates

Opened
5/28/2026
Closes
6/12/2026
Duration
30 days

Last updated

Details

Type
Invitation for Bid
Industry
Real Estate
NAICS
531390
Solicitation №
506 Garland

Budget estimate

$5,000 – $50,000

The purchase price will be whatever the winning bid amounts to (minimum $4,000). Assuming a typical investor aims for a 10‑30% profit margin after redevelopment or resale, the net earnings could range from a few thousand dollars up to tens of thousands, depending on market conditions and development plans.

AI estimate from the solicitation

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