For Sale - Free Standing Office Building (Plenty of Parking)

Office for Sale
Catylist Listing ID: 30503877
Property Subtypes: Executive Suites, Medical, Mixed Use, Office Building
Building Size (RSF): 3,712 SF
Gross Land Area: 0.72 Acres
Sale Price: $495,000
Unit Price: $133.35 PSF
Ceiling: 10 ft.
Property Use Type: Investment, Vacant/Owner-User
Building Name: 301 Clark Street
Class of Space: Class B
Sale Terms: Cash to Seller
Cap Rate: 8.0%
Average Occupancy Rate: 100
Last Updated: 11/13/2019

Overview / Comments

Freestanding office building for SALE.

The interior is updated and completely remodeled. The building features a total of 3,712 SF with a total of 8 private offices, 3 individual restrooms, kitchenette, and two conference rooms. There is an open space available for cubicles or option to add more private offices.

The building is situated on a 0.72-acre lot with two separate parking areas with approximately 30 designated parking spaces. The property features easy access to the interstate system, downtown Knoxville and The University of Tennessee. Current tenant is willing to be flexible with the new owner (willing to vacate or stay for the remaining portion of the term.

Based on the current net operating income, the cap rate would
be approximately 8%. Call broker for more details at 865-680-2003.

Attachments & Media

Financials

Finance Data Year 2018
Potential Rental Income $50,112 (Annual)
Gross Operating Income $50,112 (Annual)
Net Operating Income $39,625 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: City of Knoxville
Tax ID/APN: 094KG013
Zoning: O-1/H-1
Property Visibility: Good
Highway Access: Easy Access to Interstate System, Western Avenue, UT Campus and Downtown. Ideal location for owner occupant desiring to be close to downtown, but with plenty of parking.
Airports: Mcghee Tyson Airport (TYS)
Site Description: Large level lot with approximately 0.72 acre, two individual parking lots and plenty of room for expansion.
Area Description: See Brochure (http://properties.ayknoxville.com/docs/documents/770360?token=1c76a1023ec0f03ab64fe07bf2ad5e0bfe5562a1)
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 3,712 SF
Year Renovated: 1960
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Brick and EFIS exterior
Total Parking Spaces: 30
Sprinklers: None
Heat Type: Electricity
Internet Access: Cable
Interior Description: Completely renovated on the interior.
Zoning Description: o-1/H-1

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,778 87,554 162,443
Median Age: 26.22 31.64 35.18
Households: 6,029 36,010 69,362

Contact

Photograph of Listing Agent

David Stanley

Avison Young KAAR CIE Member
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