Unique Island Home Avenue Opportunity

Special Purpose for Sale
Sale Pending
Catylist Listing ID: 30745025
Status: Pending
Building Size (RSF): 4,000 SF
Gross Building Area: See Agent
Gross Land Area: 2.50 - 3 Acres
Sale Price: $400,000
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/19/2022

Overview / Comments

This offering is comprised of approximately 2.5 to 3 acres of land (pending lot split) with a portion offering Island Home Ave frontage, a 4000 sf warehouse with Tenant and a 1 acre +/- parcel along the future South Waterfront rails to trails greenway.

The warehouse was completely remodeled in 2018 and currently is being leased by Allied Toyota Lift as an accessory warehouse to their primary operation. Allied has the property under lease Until end September 2026.

The frontage portion and accessory acreage is zoned SW-2, with the Allied warehouse being RN-1. Owners are currently pursuing SW-2 for the parcel. There is also a survey scheduled to split the Allied acreage off from an upper residential portion off of Anita Dr.

*Please call agent for details and please do not disturb Tenants.
*All measures are approximate.
*Allied improved lot (warehouse) is currently being parceled off from residential portion.

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: City of Knoxville/Knox County
Tax ID/APN: 095OD006
Property Visibility: Excellent
Largest Nearby Street: Island Home Ave
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 4,000 SF
Property Condition: Average
Zoning Description: Mixed SW-2 and RN-1.
Water Service: Municipal
Sewer Type: Municipal
Easements Description: Access

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,965 70,887 135,136
Median Age: 31.09 32.52 35.16
Households: 4,343 28,358 57,322


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