Catylist ID:
#30824985
Falling Waters - Value Add, Class A Investment Opportunity
Office
for Sale
| Catylist Listing ID: | 30824985 |
| Property Subtypes: | Executive Suites, Office Building |
| Building Size (RSF): | 80,106 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 6.74 Acres |
| Sale Price: | $8,950,000 |
| Unit Price: | $111.73 PSF |
| Property Use Type: | Investment |
| Building Name: | Falling Waters |
| Class of Space: | Class A |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Average Occupancy Rate: | 5,949 |
| Last Updated: | 3/23/2023 |
Overview / Comments
|
On behalf of Cooper Realty Investments Inc. (CRI), Avison Young Knoxville is proud to present Falling Waters. This 80,106 SF, Class A office building is located in affluent west Knoxville with easy access to the main transportation arteries. Falling Waters was developed in 1999 with a common area renovation in 2020-2021. With ample parking and three floors' views of the Tennessee River and Smoky Mountains, Falling Waters has the amenities needed for today’s occupiers. The centralized core is optimized for an efficient tenant layout. Amenities: Ample Parking: 4.65 per 1,000 SF Efficient footprint Renovated restrooms, including the addition of showers on the 2nd floor Mother’s room More than two dozen restaurants within 2 miles Tenant controlled HVAC NOTE: Current owner has advised of an issue with the building's weeping wall that will need to be addressed by prospective buyers. Owner will provide guidance as to how repairs have been addressed in the past. |
Additional Details
| Nearest MSA: | Knoxville |
| County: | Knox |
| Tax ID/APN: | 154 09901 |
| Zoning: | PC-1 |
| Property Located Between: | Northshore Drive and Falling Waters Road |
| Property Visibility: | Excellent |
| Highway Access: | I-140 |
| Airports: | McGhee Tyson Airport |
| Site Description: | Three-story office building located in prime location at Northshore and Pellissippi. Just minutes from Knoxville, Maryville, and Oak Ridge. Easy access to I-40 and convenient to Knoxville's McGhee-Tyson Airport. |
| Area Description: | Located along the Tennessee Technology Development Corridor, Falling Waters has long been a fixture of national companies as well as local operations looking for Class-A suburban office space. |
| Total Number of Buildings: | 1 |
| Number of Stories: | 3 |
| Year Built: | 1999 |
| Year Renovated: | 2020 |
| Exterior Description: | Prominent brick structure just minutes from I-140 off of Northshore Drive. |
| Parking Ratio: | 4.7 (per 1000 SF) |
| Parking Type: | Surface |
| Passenger Elevators: | 2 |
| Interior Description: | Recently renovated common areas with updated finishes and LED lighting. |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 5,824 | 34,951 | 85,616 |
| Median Age: | 38.12 | 40.53 | 40.01 |
| Households: | 2,011 | 13,370 | 35,981 |
| © Copyright 2001-2023 Moody's. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Knoxville Area Association of REALTORS® nor Moody's assume any liability for errors or omissions. |
