Magnolia Warehouse District - Land for Development

Industrial for Sale
Sale Pending/Contingent
Also listed as Vacant Land
Catylist Listing ID: 30416225
Property Subtypes: Flex Space, Free-Standing, Mixed Use, Warehouse/Distribution
Status: Pending/Contingent
Building Size (RSF): 8,617 SF
Gross Building Area: See Agent
Gross Land Area: 0.26 Acres
Sale Price: $497,000
Unit Price: $57.68 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/15/2021

Overview / Comments

WAREHOUSE TO BE DEMOLISHED! Located just off Hall of Fame Drive and East Magnolia. One block from the proposed Smokies Baseball complex. The parcel is 1/4 of an acre and fronts Randolph and Depot Streets and lays relatively flat. Walking distance to the Old City and Downtown. Neighboring businesses include: Graning Paint Company, PetWellClinic (308 Randolph St), Fireproof Storage, Last Days of Autumn Brewery and directly across the street from Marc Nelson Denim.

Opportunity Zone - New Market Tax Credits - Possible TIF's.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $2,077 (Annual)

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 095AL020
Zoning: I-MU
Site Description: Level
Area Description: From I-40 near downtown, take Exit 389 onto Hall of Fame Dr and south to E Magnolia. Left to E Depot Ave. Property is on the left.
Total Number of Buildings: 1
Property Condition: Poor
Year Built: 1950

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,354 87,676 150,390
Median Age: 33.42 32.54 34.86
Households: 6,036 35,824 64,314
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