Fully Leased Bearden Office Building

Office for Sale
Catylist Listing ID: 30659100
Property Subtypes: Office Building
Building Size (RSF): 12,240 SF
Gross Building Area: See Agent
Gross Land Area: 0.73 Acres
Sale Price: $2,738,569
Unit Price: $223.74 PSF
Property Use Type: Investment
Building Name: Highland Place V
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/24/2020

Overview / Comments

Tailwater Properties is pleased to offer for sale this 100% leased office building in the heart of Bearden. This 12,240 SF all brick building was built in 2006 and is located in Highland Place Office Park. This investment property boasts 4 tenants, including medical and professional services. With below market rents, a staggered rent roll and high barriers to entry into the submarket, this opportunity provides investors a long term asset with a considerable amount of upside. Other points of interest include:

- 62 Parking Spaces (5:1000 SF)
- NOI: $185,177.02
- Price PSF: $224 (Below replacement cost)
- No deferred maintenance / professionally managed & maintained
- Professional office park setting
- Grade level parking and entrances for each tenant

Please call Lloyd Montgomery for more details.

Attachments & Media

Current Tenants

Tenant Business Name Precision Healthcare
Suite Number 101
Tenant Business Name Kindred At Home (Gentiva)
Suite Number 102
Tenant Business Name West Knoxville Medical & Chiropractic
Suite Number 201
Tenant Business Name Tarwater & Company, P.C.
Suite Number 202

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 121AD002
Property Located Between: Kingston Pike and Papermill Drive
Property Visibility: Good
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 2006
Construction/Siding: Brick
Parking Type: Surface
Total Parking Spaces: 62

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,928 60,762 165,316
Median Age: 37.61 37.04 34.84
Households: 3,861 27,741 69,024

Contact

Photograph of Listing Agent

Lloyd Montgomery IV

Tailwater Properties, LLC KAAR CIE Member
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