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| Bedrooms: | 0 | Full Bathrooms: | 0 | Half Bathrooms: | 0 |
| Type: | Commercial Sale | Sub Type: | MLS Number: | 9975108 | |
| Living Area: | 6,700 | Lot Acreage: | 0 | Year Built: | 1920 |
| Elementary School: | Middle School: | High School: |
Property Description
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.
Listing Status
Active
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More Listing Info
AC:Window Unit(s) true Business Type:Residential2 true Contract Info:Foreclosure No Development Status:Other35 true Electric Service:Other34 true Exterior Finish:Brick4 true General Property Description:# Restrooms 11 General Property Description:Acres 0.09 General Property Description:Annual Lease 80400.0 General Property Description:HOA YN No General Property Description:Lease No General Property Description:Lot Size2 25 X 145 General Property Description:Stories3 2.0 General Property Description:Total SqFt Finished 6700.0 General Property Description:Total SqFt Unfinished 2100.0 General Property Description:Zoning2 Commercial Heating:Radiant true Info Available:Rental Roles 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 Other Equipment:Basement4 true 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. Restrictions:Other37 true Road Access:City Street true Roof:Rubber true Sale Includes:Other38 true Sewer:Public Sewer true Water:Public true Videos: (none) Virtual Tours: (none)
Listing Courtesy:
Greater Impact Realty Jonesborough
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