Cedar Bluff Investment Property

Office for Sale
Auction
Catylist Listing ID: 30171861
Property Subtypes: Office Building
Building Size (RSF): 63,471 SF
Gross Land Area: 4.90 Acres
Sale Price: See Agent
Property Use Type: Investment, Vacant/Owner-User
Building Name: Financial Plaza
Class of Space: Class B
Sale Terms: Other
Up For Auction: Yes
Auction Type: Undisclosed Reserve
Cap Rate: Undisclosed
Last Updated: 10/20/2017

Overview / Comments

AUCTION DATE NOVEMBER 30, 2017 - CONTACT LISTING AGENT FOR DETAILS

Investment Highlights:

• Superior Location
• Convenient access to I-40 and I-75
• Property can accommodate both large and small tenants
• Close proximity to area amenities
• Strong demographic area

Investment Overview:

Three building office complex located in the busy Cedar Bluff submarket of West Knoxville. The property is easily accessible from Interstate 40 and in close proximity to a number of area amenities. Current occupancy offers the investor stable income while vacancy allows for immediate upside through leasing.

The asset is located in the Cedar Bluff submarket in West Knoxville on Executive Park Drive, just east of its intersection with the Cedar Bluff off-ramp of Interstate 40 West. The south boundary of the asset borders Interstate 40 West.

Attachments & Media

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 119 03315
Zoning: CA
Market Type: Medium
Property Located Between: Corporate Drive
Side of Street: South
Road Type: Paved
Property Visibility: Good
Highway Access: Interstate 40
Airports: McGee/Tyson
Site Description: The property has one means of ingress/egress off of Executive Park Drive. The three buildings are positioned in a square surrounding a landscaped courtyard for the enjoyment of tenants and guests. While there are no elevators in any of the buildings, the elevation allows for grade level parking on both the lower and upper levels of Buildings A & B. Building C is one level.
Area Description: Financial Plaza is located in the Cedar Bluff area of West Knoxville. There are a number of amenities in the area including retail, restaurants, day-care, banking, etc. The property is in close proximity to Cedar Bluff Road, Kingston Pike and Interstate 40.
Total Number of Buildings: 3
Number of Stories: 2
Year Built: 1982
Year Renovated: 2012
Exterior Description: The architectural design of Financial Plaza is timeless. The property offers clean lines with windows at both the front and rear of most suites allowing for an abundance of natural light. The current owner recently repainted the exterior, installed an updated exterior lighting package, resealed/restriped the parking lot and updated the landscaping in the courtyard.
Parking Ratio: 4 (per 1000 SF)
Parking Type: Surface
Total Parking Spaces: 238
Internet Access: Cable
Interior Description: With the addition of new tenants, many interior suites have been updated to include ADA compliant restrooms, updated lighting and new paint and carpet.
Lot Frontage: 500
Lot Depth: 451

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,255 70,162 139,232
Median Age: 33.13 37.8 38.02
Households: 4,993 30,418 57,961

Contact

Photograph of Listing Agent

Heidi C. Adams, CCIM

NAI Koella | RM Moore KAAR CIE Member
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