1 Acre Lot with Warehouse in Magnolia Warehouse District
|Catylist Listing ID:
Free-Standing, Mixed Use, Warehouse/Distribution
|Building Size (RSF):
|Gross Building Area:
|Gross Land Area:
|In Opportunity Zone?
|Property Use Type:
||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.
||I – MU (INDUSTRIAL – MIXED USE)
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