Historic Hope Brothers Building

Retail-Commercial for Sale
Catylist Listing ID: 30290420
Property Subtypes: Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 20,100 SF
Gross Building Area: See Agent
Gross Land Area: 4,158 SF
Sale Price: $1,990,000
Unit Price: $99 PSF
Property Use Type: Investment, Business
Building Name: Hope Brothers Building
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/16/2018

Overview / Comments

This 5 story building is located on Gay Street in the heart of Knoxville's business and retail district. The restaurant Sapphire occupies the first floor of the building. The building is on the same block as Mast General Store, Babalu, Kilwin's, and Maple Hall Bowling Alley, and it is one block from Market Square and Regal Riviera
movie theater.

Additional Details

Nearest MSA: Knoxville
County: Knox
Submarket Type: Central Business District
Tax ID/APN: 095IA032
Zoning: C2, D1
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention
Property Located Between: Union Ave and Wall Ave
Property Visibility: Excellent
Largest Nearby Street: Union Avenue
Feet of Frontage: 27
Highway Access: Less than 5 minutes from Interstate 40/James White Parkway
Airports: Knoxville McGhee Tyson Airport, 15 miles
Site Description: The building has an outdoor patio on the promenade and direct access to the promenade parking garage. The building has a 4,000 sf basement with direct access to the service alley below the promenade.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 5
Typical SF / Floor: 4,050 SF
Year Built: 1898
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Classic Victorian, commercial structure with most of its original exterior stone detailing.
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Other
Interior Description: The first floor is improved, 3,900 sf and currently leased to a restaurant (Sapphire). Floors 2-5 are 4,050 sf and are unfinished. The 4,050 sf unfinished basement contains original jeweler's vault and grease interceptor.
Zoning Description: C-2, Central Business District and D-1, Downtown Design Overlay District
Lot Frontage: 27'
Lot Depth: 155'
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: fee simple and leased fee

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,330 83,235 150,557
Median Age: 25.49 31.89 35.1
Households: 5,522 33,448 64,401


Photograph of Listing Agent

Laura D. Heinz

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