Retail- Commercial for Sale (Oak Ridge, TN) 6395 SF

Retail-Commercial for Sale
Catylist Listing ID: 30832195
Property Subtypes: Street Retail
Building Size (RSF): 6,395 SF
Gross Land Area: 0.10 Acres
Sale Price: $600,000
Unit Price: $93.82 PSF
Property Use Type: Business
Building Name: The Ferrell Shop
Usable Size (USF): 6,395 SF
Sale Terms: Cash to Seller
Auction Type: Undisclosed Reserve
Cap Rate: Undisclosed
Last Updated: 3/6/2023

Overview / Comments

The Ferrell Shop is a long-standing, profitable specialty retail store in Historic Jackson Square in Oak Ridge, Tennessee. It has a broad regional market reach and a large and loyal customer base.

The Ferrell Shop specializes in tabletop and kitchen wares, soaps and bath and body products, gardening and outdoor living items, candles, infant apparel, fine tea and specialty foods, decorative items, seasonal botanicals, holiday decor, local authors’ works, and all things gift related, including stationery and a wide variety of greeting cards.

This retail space features a new roof and HVAC system, each installed in 2022. Its main level includes the retail store. a small kitchen, storage, and a restroom. The basement features office space, multiple storage rooms, a restroom, and a huge storage area that could be converted to other purposes.

This listing is for the BUILDING AND SPACE ONLY. The business (name, inventory, equipment, and customer database) is also available and negotiable separately.

Additional Details

Nearest MSA: Knoxville
County: Anderson
Taxing Authority: City of Oak Ridge
Tax ID/APN: 001100AC00300
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Located Between: The Oak Ridge Community Playhouse and Dean's Restaurant and Bakery
Property Visibility: Excellent
Largest Nearby Street: Tennessee Avenue
Feet of Frontage: 80
Highway Access: 1. From downtown Knoxville: I-40W to Exit 376 (Pellissippi Parkway/162N) to Oak Ridge 2. From points south: I-75N to I-40E to Exit 376 (Pellissippi Parkway/162N) to Oak Ridge 3. From points west: I-40E to Exit 356 (Gallaher Rd./TN 58) to Oak Ridge 4. From points north and east: I-75S to Exit 122 (Clinton/Norris/ TN 61W) to Oak Ridge
Airports: McGhee-Tyson Airport
Site Description: The Ferrell Shop is located in Historic Jackson Square, the heart of Oak Ridge's original and still thriving retail market. Recently revitalized by a generous grant from the State of Tennessee, Historic Jackson Square is home to restaurants, the Oak Ridge Community Playhouse, specialty clothing, antiques/collectibles, ice cream, and musical instrument shops, a bank, and professional offices. Located one block from Oak Ridge's iconic Big Ed's Pizza and just across the street from its legendary Blankenship Field, Historic Jackson Square is a high-retail traffic shopping district that also hosts the weekly Oak Ridge Farmers' Market and the annual Lavender Festival (which drew an estimated 22,000 people in June, 2022). Historic Jackson Square is also located within close proximity to retail, restaurant, and business developments along the heavily-traveled Oak Ridge Turnpike, Main Street Oak Ridge (Oak Ridge City Center retail district), and Illinois Avenue.
Area Description: Convenient to West Knoxville and several nearby counties, Oak Ridge offers retail, dining, cultural, entertainment, and recreational opportunities to people from a broad region. The Oak Ridge National Laboratory and other Department of Energy facilities attract high-salaried scientists and engineers from all over the nation and world. The city's small-town charm is complemented by its natural beauty-- boaters, hikers, walkers, bikers, paddlers, and nature lovers are attracted to area lakes, the Great Smoky and Cumberland Mountain ranges, the Obed Wild and Scenic River, Big South Fork National River and Recreation Area, state and local parks and greenbelts, the University of Tennessee Arboretum, and the Oak Ridge Marina, site of annual regional and national rowing competitions.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 3,067 SF
Property Condition: Excellent
Year Built: 1943
Roof Type: Flat
Construction/Siding: Other
Parking Type: Surface
Parking Description: The Ferrell Shop shares parking spaces with the other businesses in Historic Jackson Square.
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: The main level includes original hardwood floors, the shop's retail space, kitchen, storage, and restroom. The lower level includes office, restroom, storage rooms, and a large, open storage area.
Zoning Description: B2 Commercial
Lot Frontage: 80'
Lot Depth: 116'
Water Service: Municipal
Sewer Type: Municipal
Easements: Other
Legal Description: Plat Book/Page 7/166D, Block/Lot /A, District/Ward 02 Description 02 017Cf 017Cf01 404 000

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,105 24,790 42,922
Median Age: 45.27 41.87 42.48
Households: 3,044 10,906 18,138


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