Approx 14,500 sf Commercial / Retail Space on N Broadway–Fully Leased

Retail-Commercial for Sale
Catylist Listing ID: 30808498
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail
Building Size (RSF): 14,500 SF
Gross Building Area: See Agent
Sale Price: $750,000
Unit Price: $51.72 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 8/2/2022

Overview / Comments

Approximately 14,500 sf of commercial / retail space in two buildings on N Broadway. This property is in a great location near downtown Knoxville, I-40, I-75 and I-640 and features approximately 140’ of frontage on N Broadway with plenty of parking. Each building has its own tenant. Total rental income is $7,250 / month – modified gross lease. The property for sale includes three tax parcels (081DF002, 081DF001, 081DF003) totaling approximately .75 acre.

Building 1 – Pawn Shop
- New rubber membrane roof installed 8-10 years ago
- New HVAC 4-5 years ago
- Leased through January, 2024 with two five-year options to follow

Building 2 – Hair Salon and Training Center
- New rubber membrane roof installed 4-5 years ago
- New HVAC in 2021 for one half, 4-5 years ago for the other half
- Tenant has been in space since July of 2019 - month to month lease

Tenant has a 30 day First Right of Refusal on written offers.

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 081DF002
Largest Nearby Street: Broadway
Feet of Frontage: 140
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 2
Typical SF / Floor: 3,700 SF
Property Condition: Average
Roof Type: Flat
Construction/Siding: Block, Brick
Parking Type: Surface
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: 13,307 87,856 166,363
Median Age: 37.49 34.38 35.08
Households: 6,150 38,069 70,545
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