Prime Office Space on the Tennessee River

Office for Sale
Catylist Listing ID: 30807572
Property Subtypes: Office Building
Building Size (RSF): 13,000 SF
Gross Building Area: See Agent
Sale Price: $3,995,000
Unit Price: $307.31 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Business
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/29/2022

Overview / Comments

Amazing Downtown Knoxville opportunity for a free standing, 13,000 SF / 2 story office building in the middle of it all!

Nestled on the waterfront overlooking the Tennessee River between Ruth's Chris steakhouse, outdoor Knoxville, and Volunteer Landing Marina.

Second floor space consist of high-end, urban industrial finishes including custom LED lighting, exposed wood beams, wood floors, granite countertops, a shower, collaboration zones and hospitality areas, conference room and more. Private offices (including a corner executive office with views of the TN River, Neyland Stadium and more) and open areas for work stations.

Included in the sale is more than $300,000 worth of high-end custom furniture and fixtures.

First floor is currently occupied by a law firm with traditional finishes. The tenant would like to renew a long-term lease.

Second floor is Owner/Occupant and will relocate after the sale.

Metal roof. Move-in ready. Abundant free parking surrounding the building.

Building is on a 100+ year ground lease with ZERO rent. Banks consider this equal to fee simple for collateralization. Adjacent fee simple parking lot (gated and approx. 25 spots) included.

Additional Details

Nearest MSA: Knoxville
County: Knox
Tax ID/APN: 095JB011
Zoning: DK-E
Area Description: Downtown Knoxville on the Tennessee River
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 6,500 SF
Year Built: 1998
Year Renovated: 2019
Parking Type: Surface
Land Ownership: Building is on a 100+ year ground lease.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,088 79,364 144,188
Median Age: 27.55 32.21 35.09
Households: 5,544 31,769 61,427

Contact

Photograph of Listing Agent

Don'ta Brooks

SVN I Wood Properties
Not a member of NETAR CMLS
Photograph of Listing Agent

George Brown

SVN I Wood Properties
NETAR CMLS Member
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