ATHENS TN OFFICE WAREHOUSE 17,180± SF

Office for Sale
Also listed as Special Purpose
Catylist Listing ID: 30645719
Property Subtypes: Governmental, Institutional, Mixed Use, Flex Space, Office Building, Other
Building Size (RSF): 17,186 SF
Gross Building Area: See Agent
Gross Land Area: 7 Acres
Sale Price: $985,000 - 1,075,000
Unit Price: $57.31 - 62.55 PSF
Ceiling: 8.6 ft.
Property Use Type: Investment, Vacant/Owner-User
Building Name: FORMER DAILY POST ATHENIAN NEWSPAPER PLANT
Class of Space: Class A
Core Factor: 1%
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 11/15/2020

Overview / Comments

OFFICE, PRODUCTION, WAREHOUSE — BUILDING RENOVATED IN 2017 following wind damage with new flooring, ceiling, roof, HVAC & duct work, electrical, water heater, interior structure; quiet location near downtown on S Jackson Street, near Athens Utility Boar. • Approximately 8,354± sf of management, administrative and sales offices, customer lobby, conference room, carpet combination; 6,288± sf for service production: assembly, packaging, concrete finished flooring, high ceilings; 2,544± sf utility unfinished utility storage. Floor: SLAB, Roof: Built-up/metal GYP Customer and employee asphalt parking lot. SEVEN ACRES for expansion. ###

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $9,160 (Annual)
Tax Value Land $108,700
Tax Value Improvements $705,000
Potential Rental Income $103,300 (Annual)
Gross Operating Income $103,300 (Annual)
Net Operating Income $68,217 (Annual)
Actual or Proforma Year Proforma
Lender Name NONE
Amortization Period 0

Current Tenants

Tenant Business Name ADAMS NEWSPAPER GROUP EAST LLC / POST ATHENIAN PUBLISHER LLC
Contact Name PAUL MAUNEY, JEFF SCHUMACHER
Contact Title REGIONAL PRESIDENT
Phone Number 423-638-4181
Industry Type Information
Is Renting? Yes
Employees Total 45
Employees at Location 45
SF of Space Occupied 14,255 SF
Current Rent $64,800 PSF (Annual)

Additional Details

Nearest MSA: Athens
County: McMinn
Taxing Authority: CITY OF ATHEN AND MCMINN COUNTY
Tax ID/APN: 054066A A 00300
Zoning: B3 INTENSIVE BUSINESS DISTRICT
Property Located Between: S JACKSON ST & S WHITE ST
Property Visibility: Good
Highway Access: NEAR HWY 39 AND 30; Interest -75, six miles.
Airports: McMINN CO, 5 miles; Chattanooga 55 miles; Knoxvile 60 miles.
Site Description: SEVEN LEVEL ACRES on city road, S JACKSON STREET, 0.8 MILES FROM DOWNTOWN, COUNTY SEAT AND COURTHOUSE, TENNESSEE WESLEYAN UNIVERSITY.
Area Description: ATHENS, TENNESSEE; McMINN COUNTY, TENNESSEE
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 17,180 SF
Year Built: 1967
Year Renovated: 2017
Roof Type: Flat
Construction/Siding: Block, Concrete
Exterior Description: CONCRETE BLOCK, FLAT ROOF, SINGLE LEVEL; LOADING DOCK, 63 PARKING SPACES; LANDSCAPED, ACCESS TO STREET.
Parking Ratio: 3.8 (per 1000 SF)
Parking Type: Surface
Parking Description: ASPHALT SURFACE PARKING 65 spaces; additional acres for more parking / building.
Total Parking Spaces: 65
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Internet Access: Cable
Interior Description: SEE INTERIOR LAYOUT
Zoning Description: B-3 City of Athens, TN, zoning regulations
Lot Frontage: 1250 Ft
Lot Depth: 265 Ft
Water Service: Municipal
Sewer Type: Municipal
Easements Description: NONE
Land Ownership: OWNED BY SELLERS
Legal Description: PARCEL 066a A 003.00, 17,182 SQ.FT COMMERCIAL BUILDING ON SEVEN ACRES, more or less

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,981 15,129 23,505
Median Age: 40.18 39.97 40.52
Households: 1,282 6,182 9,595

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