501 Rolling Hill Drive

Industrial for Sale
Catylist Listing ID: 30562579
Property Subtypes: Flex Space, Mixed Use, Light Industrial
Building Size (RSF): 15,712 SF
Gross Building Area: See Agent
Gross Land Area: 1.80 Acres
Sale Price: $495,000
Unit Price: $31.50 PSF
Property Use Type: Investment, Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/3/2022

Overview / Comments

Great investment opportunity for an owner and user! This property truly is a diamond in the rough. Two existing buildings on the property. The front building is a 5-tenant masonry structure with 1 lease in place. The rear building is a single tenant metal structure with a lease in place. This property has convenient location, frontage, and access.

The main building is a 8,512 SF strip center that is divided into five suites - all but one are currently occupied but only 1 under lease. There is updated electrical throughout the building, a 3 year old roof, and three restrooms within this space.

The rear building is a 7,200 SF warehouse with 10 loading doors and 1,000 +/- SF office space. Walls and ceiling are insulated, and the space is heated with a gas heater. Ceiling heights are 14' at the eave and 16' at the gable.

Additional Details

Nearest MSA: Johnson City
County: Washington
Taxing Authority: Washington County
Tax ID/APN: 090054M B 04200
Property Located Between: University Parkway and South Roan Street
Highway Access: 5 Minutes from Exit 24 on I-26
Airports: 20 Minutes from TCRA
Site Description: Nearly level site would possibly allow room for another 3,000 sf of building area.
Area Description: Users surrounding the property include light industrial, commercial, and residential uses.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Average
Year Built: 1974
Roof Type: Other
Construction/Siding: Block, Metal Siding
Parking Type: Surface
Zoning Description: The I-2, Heavy Industrial District is intended to provide areas in which the principal uses permitted are manufacturing, wholesaling, or warehousing and which are accessible to major transportation routes. The regulations of this district are designed to minimize the adverse impact such uses may have on nearby districts.
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,602 40,199 72,175
Median Age: 29.66 35.48 38.54
Households: 2,320 17,189 31,054


Photograph of Listing Agent

Michael E. Green, CCIM MAI SIOR

Century 21 Legacy
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