Income Producing in Historic Market Square

Retail-Commercial for Sale
Catylist Listing ID: 30773264
Property Subtypes: Free-Standing Building, Street Retail
Building Size (RSF): 6,032 SF
Gross Building Area: See Agent
Gross Land Area: 3,212 SF
Sale Price: $3,250,000
Unit Price: $538.79 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/4/2022

Overview / Comments

Own a piece of history with this one-of-a kind property in Market Square. This stunning income-producing property is retail and residential. The retail tenant has just entered into it's 10 year base term with two (5) year options. Recent Tenant upgrades to retail store along with complete renovation of the residential unit in 2016. New HVAC units installed within the last 2+ years. Fully sprinkled building with elevator (currently not in use but operational). The residential unit features stunning millwork and architectural features including skylights, lit trey ceiling, large veranda overlooking Market Square, 2 spacious bedrooms with large bathrooms, including large half bath. Lots of storage including owners storage unit downstairs. Square footage taken from tax records, Buyer to confirm.

Attachments & Media

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 094LF017
Zoning: DK-H
Retail Clientele: General, Family, Business, Traveler, Tourist, Convention
Property Visibility: Excellent
Largest Nearby Street: Gay Street
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 3,000 SF
Property Condition: Excellent
Year Built: 1920
Year Renovated: 2016
Roof Type: Flat
Construction/Siding: Brick
Parking Description: 2 parking spaces can be purchased on a monthly basis at Market Square garage
Passenger Elevators: 1
Sprinklers: Wet
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,512 82,935 153,529
Median Age: 25.58 31.73 35.37
Households: 5,151 33,327 65,463

Contact

Photograph of Listing Agent

Chandle Turbyville

Holrob KAAR CIE Member
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