Under Renovations Now! - 13,440 Flex Space

Industrial for Sale
Sale Pending/Contingent
Also listed as Office
Catylist Listing ID: 30707067
Property Subtypes: Flex Space, Manufacturing, Office Showroom, Warehouse/Distribution
Status: Pending/Contingent
Building Size (RSF): 13,440 SF
Gross Building Area: See Agent
Gross Land Area: 2.05 Acres
Sale Price: $1,350,000
Unit Price: $100.45 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/15/2021

Overview / Comments

Main industrial warehouse building is all concrete with slab, block walls and concrete roof systems. Later additions have bar joist ceilings with metal decking and 2 metal warehouses have been added and completely restored with a newly, paneled interior each with drive-in doors. Additional loading dock and staging area. All create 7 distinct and unique clear span warehouse/studio spaces within. Multi-layers of old roofing removed and replaced with new $228,000 TPO roof that has been completed with 3-4 inches of "ISO Board" polyisocyanurate insulation, with a R-value of 5.6 per inch underneath providing up to R-22 for the roof of entire building! 250-feet excavated in rear of building to below the footings for an adequate new foundation drain system and full Tremco Tuff-N-Dri waterproofing system as provided by Tennessee Valley Waterproofing, Inc. Soon to be renovated are new offices, baths, updated 3-phase electric, LED lighting throughout, complete exterior renovation and site improvements. Unique loft for roof top views. I-MU zoning offers many commercial and industrial uses. Conveniently located on Papermill Dr, close to I-40, Middlebrook Pike to downtown or West Knoxville, and Liberty St to Homberg and Kingston Pike. Outstanding location and investment opportunity!

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $5,418 (Annual)

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 093MA00401
Zoning: I-MU
Site Description: Gently sloping
Area Description: From I-40 W: Use the right lane to take Exit 386B for US-129/Alcoa Hwy toward Airport/Smoky Mtns. Keep right, follow signs for Sutherland Ave. Continue onto Partners Pl. Turn right onto Middlebrook Pike. Turn left onto Liberty St. Turn right onto Papermill Dr NW. Turn right. Destination will be on the right.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Built: 1958
Roof Type: Arched
Construction/Siding: Block, Stucco
Total Parking Spaces: 18

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,028 74,875 183,838
Median Age: 29.47 31.47 35
Households: 4,279 30,031 78,853
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