First Time on the Market

Industrial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30739307
Property Subtypes: Free-Standing, Light Industrial
Status: Pending/Contingent
Building Size (RSF): 4,000 SF
Gross Building Area: See Agent
Sale Price: $825,000
Unit Price: $206.25 PSF
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/10/2022

Overview / Comments

First time offered.
This all-brick building located on a corner lot, at a signal stop, at the intersection of Papermill Drive and Hollywood Road, was built in 1994. Consisting of 4,000 square feet and situated on 1.15 acres, the subject property is occupied by a top nationally known pest control business, for whom the building was constructed.
The original lease was signed July 1994 and is still in effect today. The current extension of the lease runs through January 2025. However, the tenant has expressed a desire to extend the lease yet again.
This property is front facing Papermill Dr., one of the busiest roads in West Knoxville and a growing area. New businesses have been constructed and buildings remodeled all along Papermill Dr.
The property is being sold as part of an estate sale. Family owned since it was constructed, this property offers a multitude of options with its ample parking and fenced lot, which encloses the back portion of the building.
Please call for showing details as the tenant is still occupying the property.

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 107CE022
Site Description: 1.15 Acres on corner lot.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1994
Construction/Siding: Brick
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,173 71,229 175,871
Median Age: 30.31 32.09 34.59
Households: 3,200 29,307 75,268
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