Western Avenue Trade Center for Sale
Retail-Commercial
for Sale
Also listed as Shopping Center
| Catylist Listing ID: |
30655865 |
| Property Subtypes: |
Street Retail
|
| Building Size (RSF): |
10,810 SF
|
| Gross Building Area: |
11,029 SF |
| Gross Land Area: |
0.83 Acres
|
| Sale Price: |
$1,700,000 |
| Unit Price: |
$157.26 PSF |
| Property Use Type: |
Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
8.3% |
| Average Occupancy Rate: |
100 |
| Last Updated: |
12/2/2020 |
Overview / Comments
Excellent performing retail center on Western Avenue very close to I-640. This center has a history of a high occupancy rate. Easy to manage and relatively low maintenance. The center is home to 13 successful tenants, some of whom have been there for many years. Price is based on an 8.3% capitalization rate.
All of the Tenants have been paying their rent on time even during this COVID-19 pandemic.
|
Financials
| Finance Data Year |
2019 |
| Real Estate Taxes - Annual($) |
$13,390 (Annual) |
| Potential Rental Income |
$182,700 (Annual) |
| Gross Operating Income |
$182,700 (Annual) |
| Net Operating Income |
$141,042 (Annual) |
Additional Details
| Nearest MSA: |
Knoxville |
| County: |
Knox |
| Tax ID/APN: |
093DH042 |
| Zoning: |
C-G-1 |
| Property Visibility: |
Excellent |
| Feet of Frontage: |
337 |
| Site Description: |
Level |
| Area Description: |
Dense retail area surrounded by a dense population.
From I-640, go east onto Western Ave to the retail center on the left just past Sanderson Rd and next to Bojangles’. |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
3 |
| Number of Stories: |
1 |
| Property Condition: |
Good |
| Year Built: |
1969 |
| Year Renovated: |
2008 |
| Roof Type: |
Arched |
| Construction/Siding: |
Block, Brick |
| Total Parking Spaces: |
50 |
| Parking Ratio: |
4.6 (per 1000 SF) |
| Parking Type: |
Surface |
| Heat Type: |
Electricity |
| Heat Source: |
Central, Wall Units |
| Air Conditioning: |
Other |
| Lot Frontage: |
337 |
| Lot Depth: |
116 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
7,250 |
84,419 |
185,793 |
| Median Age: |
29.27 |
31.76 |
34.72 |
| Households: |
3,052 |
34,745 |
79,945 |
|
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