Office/Flex Building | Investment or Owner-User

Office for Sale
Catylist Listing ID: 30759252
Property Subtypes: Flex Space, Office Building, Research & Development
Building Size (RSF): 45,488 SF
Gross Land Area: 3.78 Acres
Sale Price: $2,150,000
Unit Price: $47.27 PSF
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Building Name: Diversified Product Inspections Headquarters
Class of Space: Class C
Usable Size (USF): 45,488 SF
Sale Terms: Cash to Seller, Sale/Leaseback, Other
Cap Rate: 9.1%
Last Updated: 9/29/2021

Overview / Comments

-Heavy office buildout adjoining retail strip center
-Multiple docks and dock-high, 800 amp phase 3
-2,100 SF accessory warehouse building in the back
-Owner is willing to lease-back at $4.30/SF NNN for 10
years ($195,598.40 annual NOI = 9.1% Cap Rate)
-Owner is willing to vacate and would need 90 days to
move-out for owner-user after closing
-Appraised for $2.4mm in December of 2016
-5.85 per 1,000 Parking Ratio
-C-3 Commercial Zoning

Current Tenants

Tenant Business Name Diversified Product Inspections
Website URL https://dpi-inc.com/
Industry Type Professional/Scientific/Technical Services
SF of Space Occupied 45,488 SF

Additional Details

Nearest MSA: Knoxville
County: Roane
Taxing Authority: Anderson, Oliver Springs
Tax ID/APN: 00109800818
Zoning: C-3 COMMERCIAL
Property Visibility: Good
Highway Access: E Tri County Blvd
Area Description: Surrounded by car wash and adjacent to Beech Park Baptist Church which owns and occupies entire retail strip center as single occupant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 45,488 SF
Year Built: 1978
Year Renovated: 1985
Construction/Siding: Block, Concrete
Exterior Description: Concrete block
Parking Ratio: 5.8 (per 1000 SF)
Parking Type: Surface
Parking Description: Paved open surface parking with 266 parking spaces and in average condition
Total Parking Spaces: 266
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: Heavy office buildout with floorplan included
Zoning Description: C-3 Commercial
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,072 13,983 31,537
Median Age: 43.53 41.42 42.33
Households: 1,257 5,769 13,523

Contact

Photograph of Listing Agent

Matthew B. Fentress, RPA, CPM, CCIM, SIOR

NAI Koella | RM Moore KAAR CIE Member
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