Catylist ID: #30679055
1 Acre Lot with Warehouse in Magnolia Warehouse District
Industrial for Sale
|Catylist Listing ID:||30679055|
|Property Subtypes:||Free-Standing, Mixed Use, Warehouse/Distribution|
|Building Size (RSF):||38,037 SF|
|Gross Building Area:||See Agent|
|Gross Land Area:||1.02 Acres|
|Unit Price:||$65.73 PSF|
|In Opportunity Zone?||Yes|
|Property Use Type:||Business|
|Sale Terms:||Cash to Seller|
Overview / Comments
Built in 1940 this warehouse and adjacent lot stand directly across the street from what is expected to be the future home of the Tennessee Smokies. Since 2015, the area has seen over $20M in real estate investment.
The lot and warehouse total 1.02 acres and are situated within the Knoxville Opportunity Zone.*
The current owner would like to lease back the building for 12 – 24 months after the sale.
*The Opportunity Zones program was designed to spark new development and an influx of capital into these areas. In particular, businesses can get major tax breaks for investments in these zones, including a 0% capital-gains tax if they hold the investment (which can include real estate) for at least 10 years.
|Zoning:||I – MU (INDUSTRIAL – MIXED USE)|
|Proximity:||1 mile||3 miles||5 miles|
Matthew DeBardelabenRealty Executives Associates KAAR CIE Member
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