Industrial•Flex Space•For Sale

3600 Papermill

3600 Papermill Drive, Knoxville, Tennessee 37909

Sale Price $5,274,489
Sale Type Investment
Zoning I-G General Industrial Zoning District
Bldg Type Multi-Tenant
Status Existing
Year Built 1990
Year Renovated 2018
Stories 2
Vacancy 89%
Annual Taxes $67,350.66
Gross Bldg 91,058 SqFt
Land Area 6.53 Acres
Ceiling Height 25.0 Ft
Dock High Doors 8
Drive In Doors 8
Avison Young is pleased to offer qualified investors the opportunity to purchase a building leased to three tenants (“Offering”). The Offering is a two-building, multi-tenant industrial flex complex at 3600 Papermill Road located on 6.53-acre along I-40 in between two major interchanges. ShoffnerKalthoff MES, Inc., a Comfort Systems USA company (NYSE: FIX), is headquartered at 3600 Papermill and has been in the building since 1990. Comfort Systems USA recently acquired ShoffnerKalthoff MES (https://skmes.com/), the largest mechanical, electrical contractor in East Tennessee with offices in Southwest Virginia and the Tri-State area. In addition to construction, SKMES provides manufacturing services, millwright, and service for HVACR, plumbing, electrical, refrigeration, building automation, and energy conservation. Other tenants include Sherwin Williams (NYSE: SHW), which has been in the building since 2006 and has two more options to renew with 10% bumps every five years. There is one vacant space that is currently on the market for $6.75/sf, NNN. Please note: The Sherwin Williams lease is modified gross, and the landlord pays the real estate taxes and insurance for this space. The offering does not include the cell tower lease or the two billboards on the east and west end of the property. The middle billboard is used by SKMES. Note: SKMES has a right of first refusal to purchase after receiving written notice from the landlord and must respond within 10 business days. 3600 Papermill is located on I-40 in between the I-640 and Alcoa Highway (US 120) in Knoxville, TN which is in the Knoxville-Morristown-Sevierville Combined Statistical Area (CSA). The Knoxville-Morristown-Sevierville Combined Statistical Area (CSA) is centrally located at the intersection Interstate 75, Interstate 40, and Interstate 81. Over two-thirds of the nation’s population lives within a day's drive of the region. 3600 Papermill’s prime location has immediate highway access, is less than five minutes to the University of Tennessee and Downtown Knoxville, 18 minutes to McGhee Tyson Airport. 3600 Papermill has interstate access to I-40 via Middlebrook Pike, Papermill Road, 17th street or Western Avenue and I-640 via Western Avenue.
  • Excellent location
  • Value add
  • Interstate visibility
  • Near downtown Knoxville and University of Tennessee
2/25/2020 3:28:47 PM 3/25/2020 6:00:22 PM
Brian Tapp
Senior Vice President
Avison Young
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