Magnolia Corridor Warehouse For Sale

Industrial for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30446570
Property Subtypes: Warehouse/Distribution
Building Size (RSF): 10,000 SF
Gross Building Area: See Agent
Sale Price: $650,000
Unit Price: $65 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 7/16/2019

Overview / Comments

Magnolia Corridor Redevelopment – former meat packing facility with 4 huge walk-in coolers and large refrigerated loading area, one recently updated and operational, ceramic tile walls from floor to ceiling, entire building is concrete including roof, hydraulic elevator to lower floor with offices and baths and Frick ammonia refrigeration equipment (not working).

Property has direct access I-40 from Hall of Fame Blvd – the gateway to downtown - close proximity to Old City, with recent strong investments made in the immediate area including the former Dick Wright Hardware now Marc Nelson Denim, Fireproof Storage, Harris Distributing awaiting development, Graning Paint, Knoxville Opera and Last days of Autumn Brewery.

711 E Depot is ideal for many commercial uses – or combine with other properties listed.

Hot growing area! Opportunity Zone - New Market Tax Credits - Possible TIF's.

Opportunity Zone - Census tracts designated by State and Federal Government targeted for economic development by deferring capital gains taxes.

New Market Tax Credits - designed to increase the flow of capital to lower income and distressed communities.

Attachments & Media

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $2,599 (Annual)

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 095AL019
Zoning: I-2
Area Description: I-40 East or West through downtown Knoxville, take Hall of Fame Exit south .5mi to Magnolia, left then immediately right just past Graning paint on Randolph, then one block to E Depot, left to property on left.
Total Number of Buildings: 1
Year Built: 1960

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,354 86,377 151,566
Median Age: 33.42 32.41 34.94
Households: 6,036 35,254 64,860
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