LEASEHOLD FOR SALE

Office for Sale
Sale Pending/Contingent
Also listed as Retail-Commercial
Catylist Listing ID: 30051163
Property Subtypes: Office Building
Status: Pending/Contingent
Building Size (RSF): 7,500 SF
Gross Building Area: See Agent
Gross Land Area: 1.38 Acres
Sale Price: $125,000
Unit Price: $16.67 PSF
Property Use Type: Net Leased Investment (NNN)
Class of Space: Class B
Sale Terms: Cash to Seller
Last Updated: 8/18/2021

Overview / Comments

This is the sale of a leasehold interest only. Underlying ground lease extends through 10/31/2032. The front parcel is NNN sub-leased to Pilot Oil Corp. The rear parcel has the two-story office building; currently with 7 tenants and 0 vacancies. Financials are pro-forma and available upon request and with explanations. Suites G and H are currently unfinished but leased.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $7,033 (Annual)
Potential Rental Income $89,760 (Annual)
Gross Operating Income $89,760 (Annual)
Net Operating Income $46,723 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 058MD00801 and 058MD00802
Zoning: C-3
Area Description: North on Broadway, bear right onto Tazewell Pike, property is on the right.
Total Number of Buildings: 2
Year Built: 1980
Construction/Siding: Block
Parking Type: Surface
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Zoning Description: C-3 / GENERAL COMMERCIAL

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,583 70,244 158,290
Median Age: 36.98 37.95 35.89
Households: 3,462 31,258 66,160

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