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 |
| Sale Price: | $2,500,000 |
| Unit Price: | $65.73 PSF |
| In Opportunity Zone? | Yes |
| Property Use Type: | Business |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 1/8/2021 |
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. |
Additional Details
| Nearest MSA: | Knoxville |
| County: | Knox |
| Tax ID/APN: | 095AM016 |
| Zoning: | I – MU (INDUSTRIAL – MIXED USE) |
| Parking Type: | Surface |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 14,504 | 81,965 | 150,390 |
| Median Age: | 31.62 | 32.25 | 34.86 |
| Households: | 6,540 | 33,090 | 64,314 |
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