Commercial Building partially leased
Retail-Commercial
for Sale
| Catylist Listing ID: |
30836174 |
| Property Subtypes: |
Day Care Facility, Free-Standing Building, Mixed Use, Restaurant
|
| Building Size (RSF): |
4,160 SF
|
| Gross Building Area: |
See Agent |
| Sale Price: |
$485,000 |
| Unit Price: |
$116.59 PSF |
| Has Drive-Thru? |
Yes |
| Property Use Type: |
Net Leased Investment (NNN), Vacant/Owner-User, Business |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
11/15/2023 |
Overview / Comments
Retail building partially leased. Former bank property. Seller has updated property and renovated from original condition. Attorney, coffee shop and financial advisor currently on lease. Seller to provide all leasing documents. No sign on the property as requested by coffee shop owners. Advanced showing notice to enter upstairs offices.
General: Building now has two separate high speed wifi internet connections (one upstairs and one down). All HVAC units have been repaired and are working reliably, plumbing under upstairs bathrooms was completely redone at a cost of $8,000 (pipes were perished).
Outside: Complete removal of steel posts, concrete dividers from drivethru and filled in with concrete to create open drivethru/covered parking area, parking lot was resurfaced and striped,? roof was repaired to prevent major leaks but some spots still need attention, complete replacement of sewer line from the building to city sewer connection under the street/sidewalk, exterior staircase area was sandblasted and repainted.
Upstairs: Mix of polished concrete floors and new carpet, replace all lighting with LED even dispersion lights with dimmers, replaced drop ceiling tiles, fresh paint throughout.
Downstairs: Polished concrete floors, bathroom was added (there wasn't one when I purchased it), broken glass window replaced, ceiling painted, back flow prevention installed ($2,750), new paint on all concrete surfaces.
|
Current Tenants
| Tenant Business Name |
Gather Coffee |
| Is Renting? |
Yes |
| Current Rent |
$1,500 PSF (Annual) |
| Lease Expiration |
9/2025 |
| Escalations |
sept 2024 rents to 1,750 monthly
sept 2025 rents to 2,000 monthly
|
Additional Details
| Nearest MSA: |
Knoxville |
| County: |
Roane |
| Taxing Authority: |
Roane County |
| Tax ID/APN: |
073026F G 02300 |
| Retail Clientele: |
General, Family, Business, Tourist |
| Property Visibility: |
Excellent |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
1 |
| Number of Stories: |
2 |
| Property Condition: |
Good |
| Year Renovated: |
2022 |
| Parking Type: |
Surface |
| Sprinklers: |
Wet |
| Heat Type: |
Electricity |
| Heat Source: |
Central |
| Air Conditioning: |
Package Unit |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Easements: |
Utilities |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
2,146 |
9,003 |
17,607 |
| Median Age: |
43.46 |
43.25 |
42.99 |
| Households: |
972 |
3,753 |
7,282 |
|
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