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

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,498 8,512
Median Age: 45.92 43.78
Households: 1,895 3,557

Contact

Photograph of Listing Agent

Anna M. Harlan

Key Mountain Realty KAAR CIE Member
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