141 Odd Fellows Cemetery Rd

14,000 SF Specialty Building Offered at $250,000 in Rockwood, TN 37854

INVESTMENT HIGHLIGHTS

  • 141 Odd Fellows Cemetery Road is home to the historic Old Pond Grove School facility, built in 1960 and sits on 2.33 acres of fenced-in land.
  • Rockwood is a town in Roane County off US 70, the main artery between Knoxville and Nashville.
  • Major retailers nearby include Walmart Supercenter, McDonald’s, Sonic Drive-In, Big Lots, Tractor Supply Co, and several local retailers.
  • Medium-density residential zoning enables up to 20 one-bedroom units or redevelopment into a 90,000 square feet residential or mixed-use asset.
  • The site is convenient to shopping, skilled employment, and cultural and entertainment venues.

EXECUTIVE SUMMARY

141 Odd Fellows Cemetery Road presents the rare opportunity to own this historic school complex in Tennessee. The opportunity consists of two solid brick buildings located on 2.3 acres of land and approximately 14,000 square feet with current building structure dimensions untouched. The main building is brick, has two stories with a full basement and extension on the lower level, with hardwood floors throughout and a pitched roof, and is 10,000 square feet total. The Administration building is a standalone building with one story and full basement, brick construction and flat roof with over 4,000 square feet. The fenced-in lot offers two entrances and a circular driveway. The possibilities are endless. The space can be transformed to accommodate a gym, nursery and daycare, charter school, nursing facility, self-storage facility, and more. There is also a prime opportunity to redevelop this value-add asset into a multifamily with up to 20 units within the current structure with the potential for more. The buildings are vacant, and utilities have been cut off allowing for new ownership to begin construction once permits are obtained.

141 Odd Fellows Cemetery Road is located with convenience in mind. Main roadways US Route 70, Interstate 40, and State Routes 27 and 29 are all within a quick distance. These major highways connect Rockwood to Knoxville and Nashville easily. Rockwood is a dense suburban area with plentiful nature. Mount Roosevelt, Roane State Community College, and Roackwood Municipal Airport draw in visitors to this small but convenient town. Other major points of interest in Rockwood include Rockwood Golf & Country Club, Expo Center, RSCC O’Brien Theatre, and Historic Tennessee Highway Patrol Station. There are many big-name conveniences close to 141 Odd Fellows Cemetery Road such as Walmart Supercenter, Sonic Drive-In, bealls, Big Lots, Tractor Supply Co, Captain D’s, McDonald’s, Subway, Hardees, and more. Local restaurants nearby such as Coffee Whipped Café, MeMe’s Restaurant, El Patron, China New Buffet are only a quick drive.

This opportunity benefits greatly as a part of the greater Knoxville market. From a demographic standpoint, Knoxville's population has been growing rapidly. According to data from the Census Bureau, Knoxville's population has grown by an average of nearly 13,000 individuals on a net basis over the past three years. That average significantly outpaces the area's pre-pandemic growth. As the home of the University of Tennessee, Knoxville has a growing economy centered on education and healthcare services. Additionally, the university provides around 10,000 jobs on its campus. The metropolitan area's largest employer is Oak Ridge National Laboratory of the U.S. Department of Energy, with 13,000 employees. Knoxville employs about 25,000 people at over 10 major hospitals throughout the metro.

141 Old Fellows Cemetery Road is primed to offer an ideal development opportunity in the scenic town of Rockwood.

PROPERTY FACTS

Price $250,000
Price Per SF $18
Sale Type Investment or Owner User
Sale Conditions
Distress Sale
  • 1031 Exchange
  • Redevelopment Project
  • Building in Shell Condition
Property Type Specialty
Property Subtype School
Lot Size 2.33 AC
Building Size 14,000 SF
No. Stories 2
Year Built 1960

PROPERTY TAXES

ZONING

Zoning Code Medium Residential
  • Listing ID: 32817067

  • Date on Market: 4/13/2024

  • Last Updated:

  • Address: 141 Odd Fellows Cemetery Rd, Rockwood, TN 37854