Prosperity Pointe
Multi-Family
for Sale
| Catylist Listing ID: |
30831496 |
| Property Subtypes: |
Senior Living
|
| Number of Units: |
53 Units |
| Building Size (RSF): |
28,682 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
1.57 SF
|
| Sale Price: |
$6,500,000 |
| Unit Price: |
$122,641.51 Per Unit |
| Property Use Type: |
Business |
| Building Name: |
Prosperity Pointe |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
6.11% |
| Last Updated: |
6/5/2023 |
Overview / Comments
|
Avison Young Knoxville is proud to present Prosperity Pointe, a 53 unit senior living and memory care investment opportunity. Currently containing 53 units, Prosperity Pointe was recently approved for a 44-unit, 28,000 SF assisted living/memory care expansion. It's location in Cedar Bluff gives it access to both residential amenities, shopping, and service providers. Originally a hotel, the property was transitioned into its current use in 2016 with a full renovation. The three-story building now contains a nurse's station, game room, theater, therapy room, salon, conference room, kitchen, and dining room, all with controlled access at the main entrance. At 94% occupancy, this property is a prime investment opportunity at $6,500,000.
|
Additional Details
| Nearest MSA: |
Knoxville |
| County: |
Knox |
| Tax ID/APN: |
119KA01401 |
| Zoning: |
C-H-2 |
| Percent Occupied: |
94% |
| Recreation Room |
| Property Located Between: |
N Cedar Bluff Rd & I40/75 |
| Highway Access: |
Hwy 11/Kingston Pike is 6 minutes away via N Cedar Bluff Rd. |
| Airports: |
McGhee Tyson |
| Area Description: |
This building is located in the heart of Cedar Bluff, one of Knoxville's most established residential neighborhoods, making it accessible to 37% of Knox County's population within 15 minutes. The low intensity office park setting is complimented by peaceful views and convenience to shopping and service providers. Park West Hospital, rated Knoxville's #1 hospital by US News and World Report, is a short 6 minutes drive away. |
| Total Number of Buildings: |
1 |
| Property Condition: |
Good |
| Number of Stories: |
3 |
| Year Built: |
1997 |
| Year Renovated: |
2000 |
| Parking Type: |
Surface |
| Total Parking Spaces: |
39 |
| Passenger Elevators: |
1 |
| Laundry: |
Shared |
| Heat Type: |
Electricity |
| Heat Source: |
Wall Units |
| Zoning Description: |
C-H-2 |
| Lot Frontage: |
227 |
| Lot Depth: |
300 |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
8,716 |
71,916 |
146,024 |
| Median Age: |
32.8 |
37.63 |
37.78 |
| Households: |
4,302 |
31,231 |
61,248 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither Knoxville Area Association of REALTORS® nor
Moody's assume any liability for errors or omissions.
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