Income Producing Warehouse, 19% CAP RATE

Industrial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30164885
Property Subtypes: Free-Standing, Warehouse/Distribution
Status: Pending/Contingent
Building Size (RSF): 15,510 SF
Gross Building Area: See Agent
Gross Land Area: 1.78 Acres
Sale Price: $299,000
Unit Price: $19.28 PSF
Ceiling: 12 ft.
Docks/Doors: 1 Dock
Drive In Bays: 2 Bays
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: 19.56%
Last Updated: 9/14/2020

Overview / Comments

UPDATED with new roof in 2020, 80% LED lighting and 60% new paint. This warehouse is just 11 miles from the Asheville Hwy exit off of I-40 E. With more than 15,000sf of warehouse this building also has a restroom, 2 drive-in doors, 1 dock-high door, several covered garages and an outbuilding that can be used as a separate office. Taxes are just $908/annually and currently runs on solar power where the owner gets a credit back from the utility provider monthly. 4 tenants; two on 5 year leases, one on shorter term lease and one m-t-m. Total rent is $5000/mo
NOI is $58,760

Additional Details

Nearest MSA: Knoxville
County: Jefferson
Taxing Authority: Jefferson County
Tax ID/APN: 042 031.1
Property Located Between: Knoxville and Morristown
Highway Access: I-40 E, Asheville Hwy and Old Andrew Johnson Hwy
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Typical SF / Floor: 15,510 SF
Property Condition: Average
Year Built: 1974
Roof Type: Flat
Construction/Siding: Concrete
Parking Type: Surface
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: Unfinished
Water Service: Well
Sewer Type: Septic

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,475 5,334 16,585
Median Age: 39.52 40.64 39.42
Households: 926 2,079 6,377


Photograph of Listing Agent

Chandle Turbyville

Holrob KAAR CIE Member
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