1426 Elm Street

Office for Sale
Catylist Listing ID: 30758389
Property Subtypes: Office Building
Building Size (RSF): 18,296 SF
Gross Building Area: See Agent
Sale Price: $2,185,000
Unit Price: $119.43 PSF
Property Use Type: Investment
Class of Space: Class C
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: 8.45%
Average Occupancy Rate: 100
Last Updated: 1/19/2022

Overview / Comments

Prime opportunity to acquire a proven income-generating,100% leased building. Originally designed and built for BellSouth, the State of Tennessee Department of Corrections since, has been occupying the office building since 1995, while another tenant utilizes the garage space. The office building offers 18,296 SF situated on a 3.24 acre parcel, with ample parking space, covered and uncovered. Currently under market rents and a NOI of $191,234.14...act quickly!

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 081NN017
Site Description: Fully paved lot with building, plus both covered and uncovered parking.
Area Description: This property is located in a multifaceted area, consisting of office, single family-residential, and industrial multi-use zones. Situated on Elm St., between W Woodland Avenue and W Scott Avenue, it has easy access to I-275 via the W. Oldham Avenue and W. Baxter Avenue ramps. This location also makes the property accessible to many of Knoxville's main thoroughfares.
Total Number of Buildings: 1
Number of Stories: 2
Year Built: 1968
Parking Type: Surface
Parking Description: There are multiple covered parking areas to the north west side of the building and uncovered parking to the south east side.
Zoning Description: Commercial

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,968 93,749 168,503
Median Age: 33.29 32.23 34.8
Households: 4,307 39,301 72,331

Contact

Photograph of Listing Agent

John M Adams III, CCIM SIOR

Avison Young KAAR CIE Member
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