Catylist ID:
#30441892
| Catylist Listing ID: | 30441892 |
| Property Subtypes: | Executive Suites, Governmental, Institutional, Office Building |
| Building Size (RSF): | 29,007 SF |
| Gross Land Area: | 2.22 Acres |
| Sale Price: | $1,600,000 |
| Unit Price: | $55.16 PSF |
| Ceiling: | 14 ft. |
| Property Use Type: | Net Leased Investment (NNN), Business |
| Building Name: | CRESCENT BUILDING |
| Class of Space: | Class B |
| Usable Size (USF): | 17,480 SF |
| Core Factor: | 60% |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Average Occupancy Rate: | 66 |
| Last Updated: | 8/20/2019 |
Overview / Comments
|
> ICONIC BUILDING, near historic downtown Greeneville, originally served as an elementary school (1925-1981), then, by Walters State Community College (1981-1986). The building was vacant from 1986 until 1999, when the building was purchased by current owners and RENOVATED into office and special event space. Over 17,478 sq-ft of rental space among two levels, with 20 offices measuring 680 to 748 sq-ft rooms, 12' office ceilings and large windows, 14' hallway ceilings, plus a 67'x36' auditorium (1st level). • A portion of the acreage is green space that may be converted for parking. • Potential rental income of $151.200 that operates on $27,300 a year in the present configuration. The current "classroom" exhibit may offer another $800/m±. • Situated at a neighborhood intersection, with moderate-traffic count, on south side of town. This location has excellent visibility, and may be adapted to multiple uses. This is your opportunity to own a piece of history!! ### |
Attachments & Media
Financials
| Finance Data Year | 2018 |
|---|---|
| Real Estate Taxes - Annual($) | $9,364 (Annual) |
| Tax Value Land | $91,400 |
| Tax Value Improvements | $489,100 |
| Tax Value Personal Property | $150,000 |
| Assessed Value - Total($) | $580,500 (Annual) |
| Potential Rental Income | $151,200 (Annual) |
| Gross Operating Income | $100,800 (Annual) |
| Net Operating Income | $60,660 (Annual) |
| Actual or Proforma Year | Actual |
| Lender Name | none |
Current Tenants
| Tenant Business Name | BEWLEY PROPERTIES, INC. |
| Contact Name | Kandice Bewley-Baker |
| Contact Title | Presient |
| Industry Type | Real Estate and Rental and Leasing |
| SF of Space Occupied | 2,500 SF |
| Tenant Business Name | CROSS COUNTRY MORTGAGE |
| Contact Name | Kim-Alexander Johnson |
| Contact Title | Branch Manager |
| Industry Type | Finance and Insurance |
| Is Renting? | Yes |
| SF of Space Occupied | 700 SF |
| Tenant Business Name | TONYA PARLIER, COUNSELOR |
| Contact Name | TONYA PARLIER |
| Contact Title | President |
| Industry Type | Health Care and Social Assistance |
| SF of Space Occupied | 680 SF |
| Tenant Business Name | CRESCENT EVENTS |
| Contact Name | unknown |
| Industry Type | Arts, Entertainment, and Recreation |
| Is Renting? | Yes |
| Annual Revenue | $12,000 (Annual) |
| Employees Total | 1 |
| Employees at Location | 1 |
| Year Founded | 2018 |
| Suite Number | 101, 102 |
| SF of Space Occupied | 1,450 SF |
| Current Rent | $1,000 PSF (Annual) |
| Tenant Business Name | KWK ART STUDIO & EMPORIUM |
| Contact Name | UNKNOWN |
| Is Renting? | Yes |
| Annual Revenue | $12,000 (Annual) |
| Employees Total | 3 |
| Employees at Location | 3 |
| Year Founded | 2019 |
| Suite Number | 207, 208 |
| SF of Space Occupied | 1,596 SF |
| Current Rent | $1,000 PSF (Annual) |
Additional Details
| Nearest MSA: | Greeneville |
| County: | Greene |
| Taxing Authority: | GREENEVILLE CITY / GREENE COUNTY, TENNESSEE |
| Tax ID/APN: | 030098N C 01700 |
| Zoning: | B-4 |
| Property Located Between: | WEST GREENEVILLLE & DOWNTOWN |
| Property Visibility: | Excellent |
| Highway Access: | U.S. HWY 321 from GREENEVILLE to ASHEVILLE, NC, or NEWPORT, TN; two miles to Hwy 11E, Andrew Johnson Hwy, and Summer St., Greeneville. |
| Airports: | Greeneville Municipal, 3.5 miles; Tri-Cities Aiport (TRI), Blountville 36 miles; Knoxville McGee-Tyson (TYS), Tn, 85 mls. |
| Site Description: | SMALL TOWN NEIGHBORHOOD graces this flat land of 2.22 acres, more or less, with approximately 60 parking spaces, and green space for building or parking lot expansion. ### |
| Area Description: | LOCATED IN PEACEFUL SMALL-TOWN NEIGHBORHOOD within 0.5 mile of commercial downtown area. Located in Opportunity Zone of the community (verify); near national park and veterans cemetery; 1/2 mile from historic downtown. ### |
| Total Number of Buildings: | 1 |
| Number of Stories: | 2 |
| Typical SF / Floor: | 14,062 SF |
| Year Built: | 1925 |
| Year Renovated: | 1999 |
| Roof Type: | Gable |
| Construction/Siding: | Brick |
| Exterior Description: | TWO LEVEL PLUS BASEMENT, FEDERAL STYLE BRICK, with one centered-cupola, built in 1925, (renovated in 1999), 60 parking spaces, additional lots for green space or expansion. |
| Parking Ratio: | 3.6 (per 1000 SF) |
| Parking Type: | Surface |
| Parking Description: | 60 PARKING SPACES, with handicap spaces; open asphalt surface; not fenced nor gated; flat surface with in 50 to 200 feet of two entrances; egress from Main St. ### |
| Total Parking Spaces: | 60 |
| Passenger Elevators: | 1 |
| Sprinklers: | None |
| Heat Type: | Natural Gas |
| Heat Source: | Central, Heat Pump |
| Air Conditioning: | Package Unit |
| Internet Access: | Cable |
| Interior Description: | Renovated 1925 - 60's classic school building with concrete and hardwood floors; carpeted office space; 67'x36" auditorium/gym with stage for events on ground level; 11 ft ceilings in offices and 13 ft ceilings in hallway, thereabout. |
| Zoning Description: | B-4 |
| Lot Frontage: | 54 ft circular |
| Lot Depth: | 255 ft to 462 ft |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Easements: | Electric Lines, Utilities |
| Land Ownership: | Bewley Properties Inc |
| Legal Description: | Parcel ID: 098N C 017.00; DEED book / page 152A/677 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 4,230 | 17,640 | 27,653 |
| Median Age: | 40.35 | 42.3 | 41.57 |
| Households: | 1,762 | 7,414 | 11,473 |
Contact
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