Magnolia Corridor Warehouse For Sale

Industrial for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30636028
Property Subtypes: Flex Space, Mixed Use, Office Showroom, Warehouse/Distribution
Building Size (RSF): 4,200 SF
Gross Building Area: See Agent
Sale Price: $499,000
Unit Price: $118.81 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/22/2020

Overview / Comments

Opportunity Zone - New Market Tax Credits

Opportunity Zone - Census tracts designated by State and Federal Government targeted for economic development by deferring capital gains taxes.

New Market Tax Credits - designed to increase the flow of capital to lower income and distressed communities.

Warehouse building located in the Magnolia Corridor just off Hall of Fame Drive and East Magnolia. Neighboring businesses include: Graning Paint Company, PetWellClinic (308 Randolph St), Structured Glass, Fireproof Storage (now StoreSpace), Last Days of Autumn Brewery and Marc Nelson Denim.

Building consists of approximately 4,200 SF (Buyer to verify actual square footage) separated into 2 spaces (Industrial Service Co and JoyRide Knoxville).

Industrial Service Co and all inventory included:
Space includes - 1 office, 2 bathrooms, its own entrance, 1 dock door (12' x 10'), parking on site and on street.

JoyRide Lease is month to month.
Space includes - 1 office, conference room, 2 bathrooms, its own entrance, 1 dock door (12' x 10'), parking on site and on street.

New Roof in 2017 with 20-year warranty. 11.5' ceiling height in the clear.

Attachments & Media

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $1,325 (Annual)

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 095AM008
Zoning: IMU
Site Description: Level
Area Description: Head northwest on S Hall of Fame Dr toward E Summit Hill Dr SE Turn right onto E Magnolia Ave Turn right onto Randolph St Turn right at the 1st cross street onto E Depot Ave Destination will be on the right
Total Number of Buildings: 1
Year Built: 1959

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,354 85,383 150,390
Median Age: 33.42 32.48 34.86
Households: 6,036 34,610 64,314
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