South Knox Redevelopment Opportunity

Retail-Commercial for Sale
Catylist Listing ID: 30803881
Property Subtypes: Free-Standing Building
Building Size (RSF): 1,275 SF
Gross Building Area: See Agent
Sale Price: $1,150,000
Unit Price: $901.96 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 11/28/2022

Overview / Comments

Now is your chance to own a total of four lots just off Hwy 441/Chapman Hwy/Henley St., in the middle of the south waterfront district and right down the street from the redevelopment of Kern’s Bakery! This PRIME property is in an opportunity zone making it a perfect spot for your next development project whether it be retail, restaurant, or a small multi-level project. Situated above the newer developments on Blount Ave., this would be a perfect spot for a multifamily project.

Currently, there is a 1,275 SF building on the 1.04 AC property that is being used as a hair salon. In addition to the main lot, there are 2 small lots just across Palmer adding a total of 0.31 AC. The owner wants to sell all four lots together but could be willing to separate depending on the offer.

Attachments & Media

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 109AL025, 109AL026, 109HA013, & 109HA012
Zoning: C-G-2, RN-2, AND O
Retail Clientele: General
Property Located Between: Tennessee River and Fort Dickerson Park
Property Visibility: Good
Largest Nearby Street: Chapman Highway
Area Description: This property can be found 0.3 of a mile after crossing Henley Street Bridge, turn right on Fort Ave, and the property is 300 ft on your right. It is less than 2 miles to the heart of UT's Knoxville campus and the South Knoxville waterfront. 3 miles away you will find I-40 and another mile will bring you to to Hwy 129. The south Knoxville waterfront submarket is an upcoming area with lots to offer, making this property a prime investment opportunity.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 1,275 SF
Property Condition: Fair
Year Built: 1945
Year Renovated: 1965
Construction/Siding: Stone
Total Parking Spaces: 15
Parking Type: Surface
Zoning Description: C-G-2: Commercial, General RN-2: Residential O: Opportunity
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,572 70,553 136,204
Median Age: 25.59 31.59 34.81
Households: 5,575 27,862 57,862

Contact

Photograph of Listing Agent

Keith Cunningham

Avison Young KAAR CIE Member
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