Prime Retail with Stable 5-Tenant Mix
Retail-Commercial
for Sale
Also listed as Office
Catylist Listing ID: |
30712145 |
Property Subtypes: |
Street Retail
|
Building Size (RSF): |
8,208 SF
|
Gross Building Area: |
See Agent |
Gross Land Area: |
37,526 SF
|
Sale Price: |
$850,000 |
Unit Price: |
$103.56 PSF |
Ceiling: |
10 ft. |
Property Use Type: |
Vacant/Owner-User |
Sale Terms: |
Cash to Seller |
Cap Rate: |
7.1% |
Average Occupancy Rate: |
100 |
Last Updated: |
4/18/2021 |
Overview / Comments
NEW TERMS to start April 1: Seller will pay to buyer at closing a cash concession to make up for below-market rents AND a prospective buyer under contract can negotiate contingent lease agreements with current tenants to take effect upon lease renewals (4 @ March 1, 2022, 1 @ November 1, 2021). Exceptionally maintained, fully occupied, 5-tenant neighborhood shopping center ready for new owner. Directly across the street from the new Walmart Neighborhood Market. Long-term occupants have benefited from generous landlord terms and annual lease renewals. Current occupants: a plumbing company, a beauty shop, a tattoo parlor, a pet groomer, and a small church. Independent HVAC units in each suite. Four electric panels (two suites share one). Five ADA-compliant bathrooms. Three suites face Western Ave: Suite 101 (1,400 SF); Suite 102 (1,400 SF); Suite 103 (1,364 SF). Two suites have side entry: Suite 104 (1,501 SF); Suite 105 (2,191 SF).
No sign on property. Call Listing Agent for showings. Do not disturb tenants.
|
Financials
Finance Data Year |
2019 |
Real Estate Taxes - Annual($) |
$7,589 (Annual) |
Tax Value Land |
$150,200 |
Tax Value Improvements |
$263,700 |
Assessed Value - Total($) |
$413,900 (Annual) |
Net Operating Income |
$53,220 (Annual) |
Actual or Proforma Year |
Actual |
Additional Details
Nearest MSA: |
Knoxville |
County: |
Knox |
Tax ID/APN: |
093AB04502 |
Zoning: |
C-H-2 |
Feet of Frontage: |
146 |
Site Description: |
Level |
Area Description: |
Take I-75/I-640 to Western Ave west to property on the left - 5403 Western Ave. Across the street from Neighborhood Walmart Market. |
Tenancy: |
Multiple Tenants |
Total Number of Buildings: |
1 |
Number of Stories: |
1 |
Property Condition: |
Excellent |
Year Built: |
1987 |
Roof Type: |
Other |
Construction/Siding: |
Block |
Exterior Description: |
Block with metal roof on majority and asphalt shingles on addition. Ample windows on storefronts. |
Total Parking Spaces: |
35 |
Parking Ratio: |
5.1 (per 1000 SF) |
Parking Type: |
Surface |
Heat Type: |
Natural Gas |
Heat Source: |
Central |
Air Conditioning: |
Other |
Internet Access: |
Cable |
Interior Description: |
Mixed use interiors, per tenant build-out. |
Lot Frontage: |
146 |
Lot Depth: |
258 |
Easements Description: |
None |
Demographic Statistics
Proximity: |
1 mile |
3 miles |
5 miles |
Total Population: |
8,802 |
71,646 |
176,349 |
Median Age: |
35.56 |
34.68 |
34.76 |
Households: |
3,699 |
31,551 |
74,538 |
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The information presented herein is provided as is, without warranty of any kind.
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