Income-Producing Commercial Building

LOCATION228-230 S. Roane Street, Harriman, TN

PRICE$190,000

CONTACTRob Strickland 865.546.3206

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Property Information

Approx. 5,968 sq. ft. Commercial Building on approx. 0.69 acres on approx. 0.69 Acres

Highly visible location with almost 200’ frontage on Roane Street

(12) Parking Spaces – (2) of which are Handicap

Building currently occupied by (2) Tenants:

228 S. Roane Street – Approx. 4,000 sq. ft.

  • Occupied by long-term tenant Sherwin Williams
  • Current Lease amount is $1,386 per month
  • Retail / Sales Space – 40’ x 67’
  • Storage / Warehouse Space – 33’ x 40’
    • Includes Bathroom of 5’ x 8’
    • Includes Office Space of 13’ x 10’
  • 10’ Drop Ceiling Heights Throughout
  • (1) Rollup Door of 7’ Tall x 9’ Wide

Questions and Answers on Harriman Property

  • Question: Who pays property taxes?  And does Sherwin-Williams reimburse any? What are the base year taxes ?
    • Answer: Sherwin Williams reimburses half of tax increase.  We do not know the base year amount. Current year:  $1621. Tax year 2012:  City tax – $610; County tax – $1011; Total – $1621, of which Sherwin Williams reimbursed $534.93.
  • Question: Same question for Insurance?
    • Answer: Property owner pays for the insurance – Sherwin-Williams does not reimburse any of the insurance.  Insurance for 2015:  $1552.36, which includes both buildings.
  • Question: Confirm that Sherwin-Williams only has one option to renew, and what is the amount?
    • Answer: Sherwin-Williams current lease expires on January 31, 2018 at which time Sherwin-Williams will have (2) five year renewal options with first beginning on February 1, 2018 at a monthly rate of $1,524.00 and the second renewal option would begin on February 1, 2023 at a monthly rate of $1,677.06.
  •  Question: How long has Sherwin-Williams been at the property?
    • Answer: We have a document that reflects 1971, but we don’t know for sure.

230 S. Roane Street – Approx. 1,968 sq. ft.

  • Current Tenant is Cochran’s Bookkeeping & Tax Service
  • Current Lease Amount is $500 per month until May, 2016, and then increases to $600 per month until May, 2019.
  • Current Lease expires May 31, 2019
  • Lobby / Reception Area – 24’ x 20’
    • Includes Entrance of 10’ x 5’
  • Bathroom off of Reception Area – 8’ x 9’
  • Office / Filing Room off of Reception Area – 8’ x 15’
  • Hallway – 25.5’ x 4’
  • Office 1 – 13’ x 12.5’
  • Office 2 – 13’ x 12.5’
  • Office 3 – 11’ x 19’
  • Bathroom off of Office 3 – 11’ x 6’
  • Office 4 – 20’ x 29’
    • Includes Kitchen Space of 11’ x 6’
  • Includes Fenced-In Area to Rear of Building Measuring 71’ x 89’ (Approx. 6,319+/- Square Feet)

**All square footage and acreage amounts are believed to be accurate but not  guaranteed. All information was obtained from appraisals and local courthouse records.**

Zoning:
C-2 – Highway Commercial District

Utilities:

Electricity / Water / Natural Gas – Provided by City of Harriman
Property is currently on Septic Tank

Estimated Real Estate Taxes:
Estimated Annual Roane County Real Estate Taxes: $796
Estimated Annual Harriman City Real Estate Taxes: $480

Estimated Total Annual Real Estate Taxes: $1,276

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