Downtown North Opportunity Zone - 2 parcels

Retail-Commercial for Sale
Catylist Listing ID: 30414773
Property Subtypes: Free-Standing Building, Mixed Use
Building Size (RSF): 28,200 SF
Gross Building Area: See Agent
Gross Land Area: 10,300 - 32,500 SF
Sale Price: $750,000 - 2,050,000
Unit Price: $26.60 - 72.70 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: Rayl School, Free Service, Sands and Co.
Sale Terms: Cash to Seller
Last Updated: 8/6/2019

Overview / Comments

Located in the revitalized Downtown North, in the Opportunity Zone and ready for redevelopment. Includes two parcels that can be sold/leased together or individually.

The two parcels include three buildings totaling 28,200 s.f. that have a unique mix of historic industrial and mid-century modern architecture, or a 32,500 s.f. ready-to-build parcel could be created if the existing one-story structures are torn down.

300 W. Magnolia, parcel 094EF004 - 1934 Historic Rayl School Shop (7,600 s.f.) and 1952 Free Service and General Electric showroom (10,300 s.f.), $1,300,000

316 W. Magnolia, parcel 09EF003 - 1940s Sands & Co grocery store (10,300 s.f.), column free space, $750,000

See attached Downtown North .pdf for more information on the buildings and the area.

Attachments & Media

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: Knoxville and Knox County
Tax ID/APN: 094EF003, 094EF004
Zoning: C3
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention
Property Located Between: fronts Magnolia Ave. between Gay Street and Williams Street
Property Visibility: Excellent
Largest Nearby Street: Magnolia
Feet of Frontage: 223
Airports: 20 min (13.5 miles) to Knoxville Tyson McGhee airport
Area Description: Well situated next to the new Regas Square condo development, the renovated Mill & Mine event center, and Tako Taco restaurant. Located near the Southern Railway Station, White Lily Flats, the Mews I & II condo developments, Adopo Pizzeria, Dream Bikes, 1834 Saloon, The Public House, and adjacent to 3 city parking lots with approx. 300 spaces.
Total Number of Buildings: 3
Number of Stories: 1
Roof Type: Flat
Parking Description: Property is adjacent to 3 city owned parking lots with approx. 300 spaces.
Interior Description: Interior has been cleared of any partitions.
Lot Frontage: 223
Lot Depth: 140.5
Land Ownership: fee simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,468 89,401 153,448
Median Age: 29.9 32.42 35.13
Households: 5,482 36,506 65,531


Photograph of Listing Agent

Laura D. Heinz

Lawler-Wood, LLC KAAR CIE Member
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