1500 N Cherry St | Knoxville, TN 37917
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- LoopNet Team
1500 N Cherry St
Knoxville, TN 37917
Hotel Rezoned for Multifamily Redevelopment · Hospitality Property For Sale
·
88,378 SF
Investment Highlights
- 23,631 SF hotel property offered as multifamily conversation opportunity in desired city of Knoxville, TN
- Full package of required permits, plans, survey, feasibility analysis, Phase 1 report along with the city’s approved multifamily zoning
- Versatile property for multifamily real estate investors, including apartment rentals, student housing or extended stay
- Sale includes two hotel buildings and a restaurant sitting on 3.9 acres of land. 186 studio apartments, plus 5,679 SF of restaurant
- Partially operational hotel with cash flow in place
- Located in a high dense rapidly growing city with high demand for apartments or student housing
Property Facts
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hotel | Year Built/Renovated | 1979/1995 |
| Building Class | C | Tenancy | Single |
| Lot Size | 3.89 AC | Parking Ratio | 5.12/1,000 SF |
| Building Size | 88,378 SF | Corridor | Exterior |
| Zoning | C-G-1 - General Commercial Zoning District. Multi-family dwelling is a permitted use. | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 3.89 AC |
| Building Size | 88,378 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1979/1995 |
| Tenancy | Single |
| Parking Ratio | 5.12/1,000 SF |
| Corridor | Exterior |
| Zoning | C-G-1 - General Commercial Zoning District. Multi-family dwelling is a permitted use. |
Amenities
- High Speed Internet Access
- Public Access Wifi
- Smoke-Free
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $524,320 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$524,320
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