Mixed Use Office Healthcare/Residential opportunity

Special Purpose for Sale
Also listed as Office, Retail-Commercial
Catylist Listing ID: 30821141
Property Subtypes: Health Care/Medical
Building Size (RSF): 19,656 SF
Gross Building Area: 20,000 SF
Gross Land Area: 1.38 Acres
Sale Price: $1,000,000
Ceiling: 10 ft.
Property Use Type: Investment, Vacant/Owner-User, Business
Usable Size (USF): 19,000 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 2/28/2023

Overview / Comments

This excellent building is a blank canvas and has been completely gutted and remediated. There is over an acre of parking lot included with the land that is within one block of the Hospital. There are three floors providing six wide open spaces that can be turned into any type of office space or a mixed use facility. This property may also make for a good multi-family residence or extended stay facility.
The space is here and ready to adapt to any variation of development possibilities.
There are also engineer drawings/plans available for a corporate office build out.
Please call with any questions.

Additional Details

Nearest MSA: Knoxville
County: Hamblen
Submarket Type: Central Business District
Taxing Authority: Hamblen County
Tax ID/APN: 032033MA00400
Property Located Between: W 3rd North Street and W North 4th Street
Property Visibility: Excellent
Largest Nearby Street: RT 11E/W Morris Blvd
Feet of Frontage: 321
Site Description: 401 McFarland: 128X161 IRR, 0.45 acres 405 McFarland: 253X161, .93 acres
Area Description: Adjacent to hospital, medical offices, and single family residential area.
Total Number of Buildings: 2
Number of Stories: 3
Typical SF / Floor: 6,600 SF
Property Condition: Average
Year Built: 1971
Roof Type: Other
Construction/Siding: Brick
Parking Type: Surface
Parking Description: Paved Lot
Passenger Elevators: 1
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Package Unit
Internet Access: Cable
Zoning Description: medical office
Lot Frontage: 321
Lot Depth: 125 and 253
Water Service: Municipal
Sewer Type: Municipal
Easements Description: None known
Land Ownership: Cherokee Health Systems Inc
Legal Description: 401 McFarland is 3 stories with 8,424 sqft. Built 1971 405 McFarland is 3 stories with 11,232 sqft. Built 1974 Buildings have been connected by a common entry elevator and stairway with interior bridges.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,016 31,704 43,618
Median Age: 35.46 37.5 38.77
Households: 3,364 12,519 17,172


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