Catylist ID:
#30833578
| Catylist Listing ID: | 30833578 |
| Property Subtypes: | Office Building |
| Building Size (RSF): | 36,921 SF |
| Gross Building Area: | 39,671 SF |
| Gross Land Area: | 3.25 Acres |
| Sale Price: | $7,500,000 |
| Unit Price: | $203.14 PSF |
| Ceiling: | 10 ft. |
| Property Use Type: | Investment |
| Class of Space: | Class C |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 6.0% |
| Average Occupancy Rate: | 100 |
| Last Updated: | 11/27/2023 |
Overview / Comments
|
Fully tenanted and renovated office space FOR SALE on Bearden Hill - at 6501 Deane Hill Drive, Knoxville, TN 37919. This 36,921 SF, single tenant building is ideally located off Kingston Pike on Bearden Hill, 1 mile from I-40/I-75, and is fully leased by a single tenant (who has an "A" credit rating by A.M. Best) until 2029 – with annual CPI inflators and an option to extend. The existing lease structure is modified gross. The interior of the building has two floors and was renovated for the existing tenant in 2019. The exterior of the building is a combination of steel and brick, with drive up access on both floors. Ample windows create natural light throughout, while the property has 149 paved parking spaces for a 4.04 parking ratio / 1000 RSF – with several spaces subleased by a neighboring business. Additional details: - Upgraded LED lighting - 2000A / 120V/208V, 3-phase electrical supply - Executive office suites - Genflex TPO roof (installed in 2018) - Trane gas pack HVAC units (located on the roof) - Upgraded fiber optic cabling - 2,750 SF of detached and enclosed garage space. The building is currently occupied and requires 24 hour notice prior to any interior showing. |
Additional Details
| Nearest MSA: | Knoxville |
| County: | Knox |
| Taxing Authority: | City - Knoxville, County - Knox |
| Tax ID/APN: | 121AC01201 |
| Zoning: | OFFICE |
| Property Located Between: | Kingston Pike (HW-70) and Deane Hill Drive |
| Property Visibility: | Excellent |
| Highway Access: | Interstate 40/75 and Highway 70 (Kingston Pike) |
| Airports: | KTYS, KDKX |
| Site Description: | The office is situated on a 3.25 acre lot, the majority of which is paved or developed. The main office is one building with a detached 2,750 SF storage structure with 7 bays. The office is two stories and is made of a combination of steel and brick with drive-up access to the two building entrances. |
| Area Description: | It is ideally located on Bearden Hill in Knoxville, TN with ample access to the interstate (I-40/75), restaurants, and other retail. |
| Total Number of Buildings: | 2 |
| Number of Stories: | 2 |
| Typical SF / Floor: | 18,460 SF |
| Year Built: | 1962 |
| Year Renovated: | 2019 |
| Roof Type: | Flat |
| Exterior Description: | The exterior is a made of a combination of steel and brick. The roof is TPO and the parking lot is paved asphalt. The main office is one building with a detached 2,750 SF storage structure with 7 bays. |
| Parking Ratio: | 4.1 (per 1000 SF) |
| Parking Type: | Surface |
| Parking Description: | Currently, 149 parking spaces are shared between the existing tenant and a sublease of 12 spaces for an adjoining office building. |
| Total Parking Spaces: | 149 |
| Sprinklers: | None |
| Heat Type: | Natural Gas |
| Heat Source: | Central |
| Air Conditioning: | Package Unit |
| Internet Access: | Fiber Optic |
| Interior Description: | The building is comprised of an executive suite, multiple private offices, and conference rooms, as well as several open areas, ideal for cubicles. Recent renovations included updating the flooring, lighting, paint, and adding fiber optic cabling. |
| Zoning Description: | Office (O-1) |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 5,864 | 62,624 | 161,603 |
| Median Age: | 36.92 | 36.89 | 35.12 |
| Households: | 2,852 | 28,641 | 66,903 |
| © Copyright 2001-2023 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither East Tennessee Realtors nor Moody's assume any liability for errors or omissions. |
