Fountain City Office Building on Broadway

Office for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30726478
Property Subtypes: Mixed Use, Office Building
Building Size (RSF): 3,705 SF
Gross Building Area: See Agent
Gross Land Area: 9,582 SF
Sale Price: $370,000
Unit Price: $99.87 PSF
Property Use Type: Investment
Class of Space: Class C
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 50
Last Updated: 10/17/2021

Overview / Comments

Location, Location! First time ever on market, 3,705 SF general office building in the heart of Fountain City. There are 4 office suites with common restrooms shared by tenants. Electricity is separately metered. Located across the street from Fountain City Park and Fountain City Lions Club. Be sure to reference directions below for more accuracy.

Two suites are occupied by attorneys who are long term tenants on a month-to-month basis, $850 per month each. Two empty units will need to be updated by a new owner. This would make a great owner occupant space while enjoying some rental income. The rubber roof was purportedly replaced 8-10 years ago. The property has additional private parking behind the building. See photos.

Square footage per public record, buyer to verify.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $2,750 (Annual)
Gross Operating Income $20,400 (Annual)

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 058FC031
Zoning: C-G-2
Area Description: From Hotel Road in the center of Fountain City, go north for 150 yards or a good 9-iron and property is on right. From the world-famous Duck Pond, property is a strong 4-iron or about 225 yards straight up Broadway.
Total Number of Buildings: 1
Year Built: 1960
Roof Type: Other
Construction/Siding: Brick

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,918 65,277 145,309
Median Age: 40.68 38.49 37.44
Households: 2,797 28,714 61,840
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