Basic Information:

Bedrooms: 0

Full Bathrooms: 0

Half Bathrooms: 0

Type: Commercial Sale

Sub Type:

MLS Number: 9997872

Lot Acreage: 1.28000

Living Area: 4,045

Year Built:1947

Elementary School:

Middle School:

High School:

Public Remarks: This investment property--including two buildings and seven units--offers immediate rental income. At full capacity, this property provides an 8.7% cap rate and enough land to further develop and add more units for additional future income. With the TDOT road improvements on Hwy 126, the approximate boundary lines already show the new property borders which will change the traffic patterns for the better after the road modifications. Between an unfinished basement and a garage workshop, you'll also have plenty of storage space on site for anything needed for property management. Features to note include a 2yr old metal roof on Building 2, a 5yr old metal roof on Building 1, some plumbing and electrical updates, remodeling in process in 2 vacant units, and current tenants with good rental history. Whether you're already an investor or just stepping into the rental market, this property offers the unique position for established income with growth potential for more. Sale includes both parcels 062C E 017.00 and 062C E 018.00. Buyer(s)/buyer(s) agents to verify all information.

Listing Courtesy:CENTURY 21 Legacy Fort Henry

More Listing Info:

AC:Ceiling Fan(s): true

AC:Heat Pump3: true

AC:Window Unit(s): true

Business Type:Residential2: true

Contract Info:Foreclosure: No

Development Status:Finished Lot(s): true

Development Status:Raw Land: true

Easements:None12: true

Electric Service:220 Volts: true

Exterior Finish:Brick4: true

Exterior Finish:Concrete: true

Exterior Finish:Vinyl Siding: true

General Property Description:# Parking Spaces: 15

General Property Description:# Restrooms: 8

General Property Description:Acres: 1.28

General Property Description:Annual Lease: 66960.0

General Property Description:HOA YN: No

General Property Description:Lease: No

General Property Description:Lot Size2: 233M X 282M IRR & 75 X 150 IRR

General Property Description:Price LeaseSqFt: 16.55

General Property Description:Road Frontage Length: 85

General Property Description:Total SqFt Finished: 4045.0

General Property Description:Total SqFt Unfinished: 1634.0

General Property Description:Zoning2: R 4

Heating:Heat Pump2: true

Heating:Space Heater: true

Heating:Wall Furnace: true

Info Available:Aerial: true

Info Available:Floor Plan: true

Info Available:Leases2: true

Info Available:Other29: true

Location Tax Legal Info:Block: A

Location Tax Legal Info:City Taxes: 1563.24

Location Tax Legal Info:County Taxes: 1503.22

Location Tax Legal Info:Deed Book #: 3273

Location Tax Legal Info:Deed Page #: 320

Location Tax Legal Info:Lot #: 1-

Other Equipment:Basement4: true

Other Equipment:Dumpster: true

Other Equipment:Exterior Lights: true

Other Equipment:Overhead Doors: true

Other Equipment:Range2: true

Other Equipment:Refrigerator2: true

Other Equipment:See Remarks38: true

Other Equipment:Smoke Detector(s)2: true

Property Condition:Below Average: true

Remarks Misc:Directions3: From the intersection of Hwy 93/John B Dennis Hwy and Hwy 126/Memorial Blvd, travel .6 miles east towards Cooks Valley. Apartments will be on your left, adjacent to Amy Avenue.

Remarks Misc:Public Remarks7: This investment property--including two buildings and seven units--offers immediate rental income. At full capacity, this property provides an 8.7% cap rate and enough land to further develop and add more units for additional future income. With the TDOT road improvements on Hwy 126, the approximate boundary lines already show the new property borders which will change the traffic patterns for the better after the road modifications. Between an unfinished basement and a garage workshop, you'll also have plenty of storage space on site for anything needed for property management. Features to note include a 2yr old metal roof on Building 2, a 5yr old metal roof on Building 1, some plumbing and electrical updates, remodeling in process in 2 vacant units, and current tenants with good rental history. Whether you're already an investor or just stepping into the rental market, this property offers the unique position for established income with growth potential for more. Sale includes both parcels 062C E 017.00 and 062C E 018.00. Buyer(s)/buyer(s) agents to verify all information.

Restrictions:See Remarks34: true

Road Access:City Street: true

Roof:Metal3: true

Sale Includes:Fee Simple: true

Sewer:Public Sewer: true

Utilities:Electricity Connected: true

Utilities:Natural Gas Available2: true

Utilities:Sewer Connected: true

Water:Public: true