Former Cleveland State Athens Campus - Building For Sale (16,000 SqFt)

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30674975
Property Subtypes: Free-Standing Building, Other
Status: Pending
Building Size (RSF): 16,000 SF
Gross Building Area: See Agent
Gross Land Area: 4.65 Acres
Sale Price: $980,000
Unit Price: $61.25 PSF
Property Use Type: Vacant/Owner-User
Building Name: Cleveland State Athens Campus
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 9/8/2021

Overview / Comments

Constructed in 2000 and expanded in 2005, this property has been well maintained and is structurally sound and compliant with all fire codes and regulations.

Cleveland State University currently occupies the entire building. They will be vacating the building by June 1st, 2021.

The Building has five (5) restrooms. There are two ADA Compliant restrooms at the foyer and the two in the hallway are large facilities with multiple stalls. There is a private restroom behind the receptionist area.

This property is perfect for an Owner-Occupant or as a retail/office investment. The second lot could be used for additional development.

The Property is Lot 2 and Lot 3 of the attached Survey.

Additional Details

Nearest MSA: Athens
County: McMinn
Taxing Authority: McMinn County, Athens, TN
Tax ID/APN: 054047 14600
Zoning: B-3
Retail Clientele: General, Other
Property Located Between: N Congress Parkway and Ingleside Ave
Property Visibility: Good
Largest Nearby Street: N Congress Parkway (Highway 11)
Feet of Frontage: 360
Highway Access: Immediate access to N Congress Parkway (Highway 11) and close proximity to Interstate 75.
Site Description: The property is located at the intersection of N Congress Parkway (Highway 11) and Ingleside Ave. Subject Property consists of two parcels. The first parcel contains the 16,000 Sf Building and the second parcel is the lower parcel with additional surface parking.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 16,000 SF
Property Condition: Good
Year Built: 2000
Year Renovated: 2005
Roof Type: Flat
Construction/Siding: Brick/Aluminum Siding
Exterior Description: The Loading Dock and Roll-Up Doors are currently sealed, however, they could be opened for use.
Total Parking Spaces: 143
Parking Type: Surface
Parking Description: Forty-three (43) parking spaces with additional surface parking available in the second lot. The second lot has an additional +/- 100 parking spaces.
Sprinklers: Dry
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Package Unit
Internet Access: Fiber Optic
Interior Description: Well maintained interior. The flooring is mostly checkered tile with some classrooms having carpet flooring. The tile and carpets are regularly cleaned and in good condition. They're twelve (12) large classrooms, a computer lab, a large breakroom with a kitchenette, and multiple rooms that act as private offices.
Zoning Description: The subject property was recently rezoned to B-3 "Intensive Business District". This district is established to provide areas for those businesses that require high volume transportation facilities. It is intended that such areas have properties with lot sizes, yards, performance, and development standards sufficient to ensure that activities performed on any one lot will not unduly impede the flow of traffic will not adversely affect activities of adjoining zones, and will not infringe on the efficiency of activities or customer attractiveness to adjacent lots. Permitted Uses include but are not limited to; (1) Retail and other commercial establishments, (2) Private service establishments, (3) Restaurants, (4) Tourist services, (5) Ambulance and other emergency services, (6) Establishments for the sale, service or rental of passenger, travel, and recreation vehicles, (7) Churches, (8) Public/Private golf courses, (9) Outdoor recreation facilities, (10) Signs and Billboards, (11) Utility facilities, (12) Convenience stores, (13) Municipal buildings, (14) General office use, (15) Manufacturing, fabricating, and processing ice, and (16) Public and semi-public parks. Please references 3.04.08 of The Municipal Zoning Ordinance For The City of Athens, Tennessee for more information.
Lot Frontage: 360 Ft
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress, Utilities
Easements Description: The subject property has utility easements as well as access easements for the adjacent property owners.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 956 11,584 24,915
Median Age: 34.76 38.69 40.14
Households: 367 4,714 10,147

Contact

Photograph of Listing Agent

Roger Niez

NAI Charter Real Estate Corp. Greater Chattanooga REALTORS® Member
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