DAYTON, TENN - OFFICE/WAREHOUSE

Office for Sale
Catylist Listing ID: 30472514
Property Subtypes: Mixed Use, Flex Space, Office Building, Other
Building Size (RSF): 6,300 SF
Gross Land Area: 0.66 Acres
Sale Price: $600,000
Unit Price: $95.24 PSF
Ceiling: 19 ft.
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Building Name: THE HERALD-NEWS BUILDING
Class of Space: Class C
Usable Size (USF): 6,300 SF
Core Factor: 1%
Sale Terms: Cash to Seller
Auction License Number: NA
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 11/12/2019

Overview / Comments

OPPORTUNITY ZONE • 6,300 sq-ft. COMMERCIAL BUILDING ON RHEA COUNTY HWY, next door to LOWES of Dayton, Rhea County, Tennessee, TN-29/US-27. OPPORTUNITY ZONE • TOTAL 6,300 sq-ft building has 2,000 sq-ft for office or retail, 4,300 sq-ft utility warehouse, and a front-porch with 1,150 sq-ft. canopy for outdoor displays, dining or demonstration area. This 0.66 acre lot has 25 parking spaces, with road frontage of 100' that accesses, RHEA COUNTY HWY - HWY 27/25. https://opportunitydb.com/location/tennessee/

IMPROVEMENTS: The improvements consist of a one story metal and stone office/warehouse building which was constructed on a concrete slab in 1986 and contains 6,300 square feet. The office area is made up of a lobby, several offices, a break room and two restrooms. The rear is made up of a warehouse area. The restrooms meet the current ADA regulations. The flooring is carpet and the walls are paneled. The ceilings are acoustic tile. The subject has insulated windows and Central Heating and Air throughout. The roof is metal and the subject has an alarm system for security. The parking lot is asphalt and concrete with space for 25 automobiles. The subject is of average quality and condition.

THE SITE: The subject site contains 0.66 acres; 28,750 square feet. The site is rectangular in shape and is level to sloping. The site is served by electricity, gas, sewer, telephone and water. The street is asphalt with concrete curbs and sidewalks. There are also street lights. The subject is zoned C-2 and conforms to zoning. It is found in Census Tract No. 124/2. According to FEMA Map Number 47143C0310D, dated November 5, 2008, the subject is in Zone X, which does not appear to be in a flood zone. The subject is outside the 500 year flood plain. The appraiser is not an expert in this matter and is reporting data from FEMA maps.• SELLER is related to Broker. Buyers are to verify measurement and listing information. ###

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $3,359 (Annual)
Tax Value Land $206,200
Tax Value Improvements $190,100
Tax Value Personal Property $396,300
Assessed Value - Total($) $535,000 (Annual)
Potential Rental Income $54,000 (Annual)
Gross Operating Income $35,800 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Dayton
County: Rhea
Submarket Type: Suburban
Taxing Authority: CITY OF DAYTON, TENNESSEE | RHEA COUNTY, TENNESSEE
Tax ID/APN: 072096 10604
Zoning: C-2
Property Located Between: LOWES HOME CENTER & MEDIA VAULT
Property Visibility: Excellent
Highway Access: IMMEDIATE ACCESS TO HWY 27-25, at 3687 RHEA COUNTY HWY, Dayton, Tennessee 37321
Airports: Mark Anton Airport markantonairport.com 350 Walter Squire Rd, Dayton, TN 37321 (423) 775-8407
Site Description: THE SITE: The subject site contains 0.66 acres; 28,750 square feet. The site is rectangular in shape and is level to sloping. The site is served by electricity, gas, sewer, telephone and water. The street is asphalt with concrete curbs and sidewalks. There are also street lights. The subject is zoned C-2 and conforms to zoning. It is found in Census Tract No. 124/2. According to FEMA Map Number 47143C0310D, dated November 5, 2008, the subject is in Zone X, which does not appear to be in a flood zone. The subject is outside the 500 year flood plain. The appraiser is not an expert in this matter and is reporting data from FEMA maps.• SELLER is related to Broker. Buyers are to verify measurement and listing information. ###
Area Description: Neighborhood Analysis. A neighborhood can be described as an area within which economic, environmental, governmental and social forces affect all surrounding properties in the same way they affect the property being appraised. A neighborhood is defined as a group of complementary land uses. A neighborhood is a separately identifiable, cohesive area within a community with some interests typically shared by the occupants. Most neighborhoods have recognizable natural or man-made boundaries. While physical boundaries are stipulated in order to define the neighborhood, they are often less defined as a grouping of complimentary uses affected in a similar manner by social, economic, governmental, and/or environmental factors. In addition to physical boundaries, a neighborhood may be delineated by perceptible changes in land use and the architectural style and condition of the area’s improvements. Finally, every neighborhood is subject to influence from the greater abutting or surrounding community, or metropolitan area. Location. The subject is located approximately two miles south of the central business district of downtown Dayton. Media Vault and Dayton Power Sports are located north of the subject. Located to the south of the subject is a Lowe’s. Further to the south is a Wal-Mart Supercenter and the Dayton Church of God. A McDonald’s, Wendy’s, Steak N’ Shake and Zaxby’s restaurant are all located along Rhea County Highway. Residential uses are to the south. This is a fully developed area with various commercial improvements. Past demand has been average and it should continue.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 6,300 SF
Year Built: 1986
Year Renovated: 1992
Roof Type: Arched
Construction/Siding: Metal Siding
Exterior Description: METAL SIDING
Parking Ratio: 252 (per 1000 SF)
Parking Type: Surface
Parking Description: 25 PARKING SPACES, OPEN & FREE, SPCA
Total Parking Spaces: 25
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central, Other
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: INTERNET PROVIDER IS CHARTER CABLE. 2300 sf office space, shop with 10' ceiling height, and 4000 sf warehouse with 19' ceiling
Zoning Description: 08 - COMMERCIAL
Water Service: Municipal
Sewer Type: Municipal
Easements Description: NONE
Land Ownership: FEE SIMPLE
Legal Description: WARRANTY DEED BOOK 234, PAGE 74

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,152 10,845 15,523
Median Age: 33.97 38.18 35.89
Households: 827 4,164 5,799

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