Unique Multi-Use Retail for Sale

Retail-Commercial for Sale
Also listed as Office
Catylist Listing ID: 30824855
Building Size (RSF): 14,862 SF
Gross Building Area: See Agent
Gross Land Area: 2.26 Acres
Sale Price: $1,800,000
Unit Price: $121.11 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 5.4%
Average Occupancy Rate: 100
Last Updated: 11/29/2022

Overview / Comments

Visible from Alcoa Highway and accessible via Whitecrest Drive. One-of-a-kind mix of retail properties on 2.26 acres. One building contains a built-in heated swimming pool with 3' to 12' depth range. Additional rental income from two traditional retail buildings, one temporary building and a billboard. Total of 8 tenant units plus the billboard. Upside potential on rent. Buyer to verify all measurements, easements and property details.

No sign on property.

Do not disturb tenants.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $14,474 (Annual)
Tax Value Land $388,400
Tax Value Improvements $375,000
Tax Value Personal Property $375,000
Assessed Value - Total($) $305,360 (Annual)
Gross Operating Income $138,000 (Annual)
Net Operating Income $98,000 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Knoxville
County: Blount
Tax ID/APN: 005057GA01200
Zoning: HIR
Feet of Frontage: 180
Area Description: US Hwy 129 to Foch St to Whitecrest Dr or Foothills Mall Dr to Turner to Whitecrest Dr.
Tenancy: Multiple Tenants
Total Number of Buildings: 3
Number of Stories: 1
Property Condition: Average
Year Built: 1960
Roof Type: Other
Construction/Siding: Brick, Wood Frame
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Other
Lot Frontage: 180
Lot Depth: 315
Easements: Electric Lines
Easements Description: Electric lines and tower.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,575 42,023 73,144
Median Age: 36.73 38.86 40.39
Households: 2,554 16,937 29,258

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