Hemlock Village
Office
for Sale
| Catylist Listing ID: |
30443223 |
| Property Subtypes: |
Office Building
|
| Building Size (RSF): |
2,700 SF
|
| Gross Building Area: |
See Agent |
| Sale Price: |
$349,000 |
| Unit Price: |
$129.26 PSF |
| Property Use Type: |
Business |
| Building Name: |
Hemlock Village |
| Usable Size (USF): |
2,700 SF |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
11/29/2019 |
Overview / Comments
|
Great opportunity to own your own business and live upstairs on property!!Located in the historic Arts and Crafts Community. Comprised of 5 commercial shops, and an apartment. There are 6 half bathrooms and a maintenance room. All shops are metered separately. Extensive covered porch, spacious parking and fabulous location. This property is currently being used as office building with an approximate 680 square foot apartment on the top level. The lovely apartment has one bedroom and 1.5 baths. Property has good well water but city water connection is available. City sewer will be coming this fall. This property is zoned for multiple uses. The property is currently generating $28,000.00 gross rental as current use.
|
Financials
| Finance Data Year |
2018 |
| Real Estate Taxes - Annual($) |
$1,285 (Annual) |
| Potential Rental Income |
$40,000 (Annual) |
| Gross Operating Income |
$17,406 (Annual) |
| Net Operating Income |
$7,616 (Annual) |
| Actual or Proforma Year |
Actual |
| Lender Name |
Billy Erwin |
Current Tenants
| Tenant Business Name |
Greer Construction |
| Is Renting? |
Yes |
| Annual Revenue |
$7,800 (Annual) |
| Lease Expiration |
12/2019 |
| Tenant Notes |
rents 1,2 |
| Tenant Business Name |
Highland Craft |
| Is Renting? |
Yes |
| Annual Revenue |
$13,200 (Annual) |
| Lease Expiration |
12/0019 |
| Options |
Rents shops, 3,4,5 |
| Tenant Business Name |
Apartment |
| Is Renting? |
Yes |
| Annual Revenue |
$7,800 (Annual) |
| Tenant Notes |
Apartment is about 700 square feet. |
Additional Details
| Nearest MSA: |
Sevierville |
| County: |
Sevier |
| Tax ID/APN: |
078108 07602 |
| Property Located Between: |
Glades Road and Buckhorn Road |
| Property Visibility: |
Excellent |
| Highway Access: |
Buckhorn Road |
| Airports: |
Sevierville Airport |
| Site Description: |
Level with generous parking. |
| Area Description: |
Located in Arts & Crafts Community. An 8 mile loop road of the largest group of independent artists and craftsman in the Gatlinburg area since 1937. |
| Total Number of Buildings: |
1 |
| Year Built: |
1989 |
| Roof Type: |
Gable |
| Construction/Siding: |
Wood Frame |
| Exterior Description: |
Wood with large covered front porch, upstairs apartment. |
| Parking Type: |
Surface, Other |
| Parking Description: |
Ample parking. |
| Heat Type: |
Electricity |
| Heat Source: |
Baseboard, Wall Units |
| Zoning Description: |
CL-3 grandfathered. |
| Lot Frontage: |
161.61 |
| Lot Depth: |
100 |
| Water Service: |
Well |
| Sewer Type: |
Septic |
Demographic Statistics
| Proximity: |
3 miles |
5 miles |
| Total Population: |
4,498 |
8,512 |
| Median Age: |
45.92 |
43.78 |
| Households: |
1,895 |
3,557 |
|
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