CLASSIC ANTIQUE SCHOOL

Retail-Commercial for Sale
Also listed as Multi-Family, Industrial
Catylist Listing ID: 29843844
Property Subtypes: Car Wash, Convenience Store, Day Care Facility, Free-Standing Building, Garden Center, Mixed Use, Movie Theatre, Parking Facility, Post Office, Restaurant, Retail-Pad, Service Station/Gas Station, Street Retail, Vehicle Related, Other
Building Size (RSF): 30,000 SF
Gross Building Area: See Agent
Gross Land Area: 4.30 Acres
Sale Price: $584,500
Unit Price: $19.48 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/10/2017

Overview / Comments

Near UT hospital and surrounded by several student housing just off Cherokee Trail, this charming antique all brick original building four (4) room school house built in 1930 has had five (5) additions. The newest addition has the capacity to have at least one (1) more floor built on. Now totaling more than 30,000 SF, the building includes a large gymnasium which is also used as an auditorium and cafeteria, large kitchen area, 20 large classrooms, massive hallways with curved openings, high ceilings, huge windows and lots of Tennessee Pink marble scattered throughout. Sits on 4.3 acres of nice land. Zoned C-3, the property is ideal for commercial uses. Property could also be developed for multi-family, senior-assisted living, nursing home, tax credit housing or even possible light industrial use. One of the area's last remaining schools for redevelopment. Part of the property is in need of repair. The old daycare section–10,000 SF has concrete floors with AC/Heat and is fireproofed and could be used immediately. There is electric service to the building in the newest part and there are a couple of tenants. Extensive work has been done to the roof structure, along with a huge new 30-year dimensional roof.

Financials

Finance Data Year 2015
Real Estate Taxes - Annual($) $3,572 (Annual)

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 122EB004
Zoning: C-3
Area Description: From I-40 near Downtown, take Alcoa Hwy (Hwy 129) for approximately 2 miles to the UT Hospital Exit on Cherokee Trail. Go 1.1 miles to UT Student Housing complexes and turn right onto Eddington. Go .5 miles to Willoughby Rd and turn right. School is .2 miles on the left.
Total Number of Buildings: 2
Year Built: 1930

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,605 53,307 119,060
Median Age: 31.09 31.5 34.78
Households: 3,192 20,760 49,273
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