Property Description

Listing Status

• More Listing Info

  AC:Window Unit(s)	true
  Appliances:See Remarks5	true
  Basement:Concrete3	true
  Basement:Sump Pump	true
  Contract Info:Foreclosure	No
  Easements:None12	true
  Expenses Include:See Remarks39	true
  Expenses Include:Utilities2	true
  Exterior Features:See Remarks23	true
  Exterior Finish:Brick4	true
  Flooring:Carpet	true
  Flooring:Laminate	true
  Flooring:Vinyl	true
  General Property Description:# Buildings	1
  General Property Description:# of Units	11.0
  General Property Description:Acres	0.09
  General Property Description:Elementary School3	Lincoln
  General Property Description:High School3	Dobyns Bennett
  General Property Description:HOA YN	No
  General Property Description:Home Warranty2	No
  General Property Description:Lot Dimensions	25 X 145
  General Property Description:Middle School2	Sevier
  General Property Description:Stories2	2
  General Property Description:Total Units	11
  General Property Description:Zoning2	Commercial
  Heating:Radiant	true
  Info Available:Rental Rolls	true
  Interior Features:See Remarks4	true
  Levels:Two	true
  Location Tax Legal Info:Block	8
  Location Tax Legal Info:City Taxes	1580.26
  Location Tax Legal Info:County Taxes	1902.82
  Location Tax Legal Info:Deed Book #	3456
  Location Tax Legal Info:Deed Page #	899
  Location Tax Legal Info:Lot #	P 6
  Property Condition:Below Average	true
  Remarks Misc:Directions3	On I-26 W, take exit 4 for TN-92 S. Continue straight onto Old Wilcox Dr. Continue onto Sheridan Square/S Wilcox Dr. Turn Right onto E Center St. 2020 E Center St will be on the left.
  Remarks Misc:Public Remarks2	Great Investment Opportunity! Discover the charm and potential of this historic building, a proven income-generator with a strong track record as a successful apartment complex. Boasting 100% occupancy nearly year-round and all units currently occupied, this property is a rare find. Formerly known as the Palmer Building, this versatile property boasts a rich history as a pharmacy storefront, medical offices, and more. It offers endless possibilities, whether for office spaces, a restaurant, or any venture you envision. The property features 11 units, generating $6,700 monthly or $80,400 annually. These include one 2-bedroom, 1-bath unit and ten 1-bedroom, 1-bath units, totaling 12 bedrooms and 11 bathrooms. Located within walking distance of Dobyns-Bennett High School and just minutes from East Stone Drive's amenities, the property combines convenience with an unbeatable location. The owner pays utilities and there are no HOA or CAM fees. This property offers excellent cash flow, with the potential for even greater returns with some TLC. Whether you're expanding your portfolio or launching a new endeavor, this is an opportunity you won't want to miss. Rent rolls and expenses are available upon request.
  Roof:Rubber	true
  Sewer:Public Sewer	true
  Structure Type:Mixed Use	true
  Structure Type:Multi Family	true
  Style:See Remarks40	true
  TopographyLot Description:Level2	true
  Unit 1:# Bathrooms5	1.0
  Unit 1:# Bedrooms3	2
  Unit 1:# Units	1
  Unit 1:Monthly Rent	700
  Unit 2:# Bathrooms4	1.0
  Unit 2:# Bedrooms4	1
  Unit 2:# Units2	6
  Unit 2:Monthly Rent2	650
  Unit 3:# Bathrooms3	1.0
  Unit 3:# Bedrooms5	1
  Unit 3:# Units3	3
  Unit 3:Monthly Rent3	550
  Unit 4:# Bathrooms2	1.0
  Unit 4:# Bedrooms6	1
  Unit 4:# Units4	1
  Unit 4:Monthly Rent4	450
  Walls:Drywall	true
  Walls:Paneling	true
  Walls:Plaster	true
  Water:Public	true
  Videos:	(none)
  Virtual Tours:	(none)

Listing Courtesy: