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154 Judge Gresham Rd

13,800 SF Industrial Building Johnson City, TN 37615 $2,195,000 ($159/SF) 5.47% Cap Rate

Executive Summary

Welcome to a remarkable investment opportunity presented by The Addington Agency! Nestled at 154 Judge Gresham Rd and constructed in 2018, this state of the art flex space spans over 13,000 square feet and is currently home to a long standing local enterprise, boasting a NNN lease with 14 years remaining, underscored by an annual rent escalation of 3%. Strategically positioned in the heart of a rapidly growing market, this property is located within a quick drive to anywhere in the TriCities offering easy accessibility to I-26 and Bobby Hicks Hwy promoting excellent visibility! Boasting over 8,000+ sqft of meticulously designed office space with 9 designated offices, a welcoming reception area, spacious lobby, 5 lavatories, versatile conference/training room, and multiple storage rooms; this place has it all. The property also boasts over 4,500+ square feet of warehouse space, complete with three 14' automated garage doors, a 10' automated door with a loading dock, and a 12' automated door at the rear for secured parking, and complemented by a sprawling 1,000+ square feet covered carport, also ideal for private parking, storage, or potential conversion into additional conditioned space. Custom built with quality in mind, this steel-framed building offers an array of features including 23' eve height, 28' peak, 6'' concrete pad in warehouse, 3-Phase power, automated LED lighting, fully sprinklered, and a security system paired with surveillance and key card entry system for staff. Furthermore, the property offers a fenced in parking area, catering to diverse operational needs. TCAC has been the local cornerstone of this industry since 1969, and provides a stable track record of success with consistent growth over the years, ensuring comfort with your investment. Zoned I-1, and situated on 1.75 acres adjoining Food City and various high-density housing developments, this versatile structure not only represents a lucrative investment opportunity but also offers boundless potential to accommodate a myriad of business ventures including manufacturing, processing, fabrication, construction, storage, or multi-tenant conversion, among many others. Opportunities of this caliber in this location rarely come to market, and this opportunity will not last long priced to sell at $2.195M. Call today to schedule your appointment!

Property Facts

Price $2,195,000
Price Per SF $159
Sale Type Investment or Owner User
Cap Rate 5.47%
Property Type Industrial
Property Subtype Warehouse
Lot Size 1.76 AC
Rentable Building Area 13,800 SF
No. Stories 2
Year Built 2018
Tenancy Single
Parking Ratio 2.54/1,000 SF
No. Dock-High Doors/Loading 1

Amenities

  • Fenced Lot
  • Front Loading
  • Security System
  • Yard
  • Storage Space

MAJOR TENANTS Click Here to Access

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • Tri-City Air Conditioning Co
  • Retailer
  • -
  • -
  • Jan 0000
Tenant Industry SF OCCUPIED RENT/SF Lease End
Tri-City Air Conditioning Co Retailer - - Jan 0000

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
012-026.05
Land Assessment
$43,200
Improvements Assessment
$350,640
Total Assessment
$393,840

zoning

Zoning Code I-1 (light industrial zone)
I-1 (light industrial zone)
  • Listing ID: 33273482

  • Date on Market: 9/23/2024

  • Last Updated:

  • Address: 154 Judge Gresham Rd, Johnson City, TN 37615

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