Historic Market Square Building

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30406809
Property Subtypes: Mixed Use, Restaurant, Tavern/Bar/Nightclub
Status: Pending/Contingent
Building Size (RSF): 4,332 SF
Gross Building Area: See Agent
Gross Land Area: 2,410 SF
Sale Price: $1,550,000
Unit Price: $357.80 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: 31 Market Square
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/18/2019

Overview / Comments

This beautiful 2-story brick building is available for purchase for the first time in over 20 years. Located on Market Square in downtown Knoxville, and in the Opportunity Zone. The building's historic features include original hard wood floors, exposed brick, and large windows overlooking Market Square. Currently set up as mixed use with approx. 2,100 s.f. of first floor retail space on Market Square, the space has previously been leased to boutique shops and restaurants. The second floor includes an open residential loft with a large skylight in the main space, an outdoor balcony on the back, one parking space in the alley directly behind the building, and includes the possibility of adding a roof top deck. Elevator in the front of the building to access second floor (separate entrance from retail space). Adjacent to the Market Square parking garage.

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: Knoxville and Knox County
Tax ID/APN: 094LF004
Zoning: C2/H1
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Located Between: on Market Square between Wall and Market
Property Visibility: Excellent
Largest Nearby Street: Market
Feet of Frontage: 20
Airports: 20 min drive to Knoxville's McGhee Tyson Airport
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 2,166 SF
Property Condition: Good
Year Built: 1920
Year Renovated: 2000
Roof Type: Flat
Construction/Siding: Brick
Total Parking Spaces: 1
Parking Description: One space in the alley behind the building. Adjacent to City Market Square parking garage.
Passenger Elevators: 1
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Lot Frontage: 20
Lot Depth: 124
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,512 82,935 152,398
Median Age: 25.58 31.73 35.26
Households: 5,151 33,327 65,039


Photograph of Listing Agent

Laura D. Heinz

Lawler-Wood, LLC KAAR CIE Member
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