Retail Space off of Norris Freeway

Retail-Commercial for Sale
Also listed as Multi-Family
Catylist Listing ID: 30842347
Property Subtypes: Convenience Store, Free-Standing Building, Restaurant, Other
Building Size (RSF): 3,408 SF
Gross Building Area: See Agent
Gross Land Area: 1.11 Acres
Sale Price: $359,000
Unit Price: $105.34 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/25/2023

Overview / Comments

2,600 SF retail space right off of the Norris Freeway with ample parking and access off of Miller Rd. The retail space is currently an unconditioned shell, ready for a new owner to make whatever they want with it. Property was formerly used as a deli/ice cream shop and benefitted from traffic travelling to and from Norris Dam. At the back of the retail business with its own entrance, there is a partially finished 260 SF efficiency unit that is framed and has rough ins for a bathroom and kitchen. There is also a sizable basement storage area.

In addition to the retail space, there is also an 800 SF manufactured home with 2 bedrooms, 2 baths, on its own separate electirc and water, that is currently vacant but ready to rent or used by an owner occupant.

Financials

Finance Data Year 2022
Real Estate Taxes - Annual($) $1,430 (Annual)
Tax Value Land $158,900
Tax Value Improvements $71,200

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 018 094
Zoning: CA
Feet of Frontage: 222
Site Description: 1.11-acre lot off of the intersection of Norris Freeway (441) and Miller Rd. The property is in the County, so no city property taxes. Municipal water that is separated on 2 meters, with a septic system. Electric is on 2 meters as well. Approximately 16 paved parking spaces at the front of the building with overflow parking available across the street (Miller Rd). There is additional covered storage at the rear of the property.
Area Description: Norris Freeway (441) and Miller Rd.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Fair
Year Built: 1950
Construction/Siding: Concrete
Parking Type: Surface
Lot Frontage: 222
Lot Depth: 219

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 18,488 48,575
Median Age: 41.26 40.1
Households: 6,976 19,215

Contact

Photograph of Listing Agent

David Faulkner

Wallace Commercial KAAR CIE Member
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