Schaad Rd Investment Property

Retail-Commercial for Sale
Catylist Listing ID: 30823105
Property Subtypes: Garden Center, Other
Building Size (RSF): 910 SF
Gross Building Area: See Agent
Gross Land Area: 1.14 Acres
Sale Price: $499,000
Unit Price: $548.35 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 11/28/2022

Overview / Comments

This property features a fully fenced-in 1.4 acres with frontage on Schaad Rd. There is a 910 SF warehouse with a roll-up door and shop bay, office and bathroom. The warehouse has a canopy for parking. The lot is flat with a gravel drive, and property sits near the Schaad Rd and Oak Ridge Highway intersection.
This property is 100% occupied by a tenant that will remain on a modified gross lease through March 2024. Current tenant has a water feature business. Property's prior use was a landscaping business. With the Schaad Rd expansion upcoming and the CA zoning, this property has a lot of potential for redevelopment with income production in the meantime. Please do not disturb tenant.
All showings must have a 24-hour lead time.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $773.38 (Annual)

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 079 02801
Zoning: CA
Site Description: Level
Area Description: From I-640, take the Western Ave Exit. Head west onto TN-62 for 4.3 miles. Turn right onto Schaad Rd. Your destination will be 0.3 miles on the left.
Tenancy: Single Tenant
Total Number of Buildings: 1
Property Condition: Average
Year Built: 1995
Parking Type: Surface
Lot Frontage: 135
Lot Depth: 388

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,204 48,317 138,669
Median Age: 35.38 36.28 36.3
Households: 2,488 19,858 59,953
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