$635,000
$595,000
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603 Main St #905 Knoxville, TN 37902
2 Beds
2 Baths
970 SqFt
Key Details
Sold Price $635,000
Property Type Condo
Sub Type Condominium
Listing Status Sold
Purchase Type For Sale
Square Footage 970 sqft
Price per Sqft $654
Subdivision The Medical Arts Building
MLS Listing ID 1288987
Sold Date 02/03/25
Style Other,Historic
Bedrooms 2
Full Baths 2
HOA Fees $294/mo
Originating Board East Tennessee REALTORS® MLS
Year Built 1930
Lot Size 0.490 Acres
Acres 0.49
Lot Dimensions 74.33 x 206.83 x IRR
Property Description
The 50 apartments in the Medical Arts Building (MAB) are being converted into condominiums and are now offered for the first time as a purchase option! New owners will enjoy the fantastic location between the downtown core and The University of Tennessee. All units are conveyed with a washer/dryer set and all major kitchen appliances. Tile flooring, remodeled bathrooms, granite countertops, stainless steel appliances in the open kitchens, and plenty of natural light create a comfortable living area. Unit sizes vary from 515 square feet to 2,101 square feet. No short-term rentals are permitted. The minimum lease term will be 180 days.
The MAB, an ornate Gothic Revival style building built in 1932 by Lexington, Kentucky architecture firm Manley and Young, was placed on the National Register of Historic Places on May 24, 1984. Originally planned as a 13-story building, the plans were scaled back due to the Great Depression to what we see today as a 10-story high rise, including the attached 4-story parking garage. Owners will have the opportunity to purchase parking in the private, interior garage.
The decorative terra cotta and dark green spandrel panels on the exterior of the East and South facing facades show the attention to detail, which was rarely seen in the southeast at that time. The MAB was once home to a pharmacy, a bank, a beauty shop, a florist, and several restaurants. A bowling alley and a putt-putt golf course also entertained tenants and visitors!
The building experienced its share of hardships. In 1985, it was completely renovated and once again became a favorite location for many well-known doctors, dentists, attorneys, accountants, and other professionals.
Thomas B. Grace, a real estate investor from Chicago, purchased the building in 2006. The plan was to leave it as a multi-tenant office building for many years, but the recession changed everything. It was agreed that the highest and best use for the building was a conversion to residential. The building conversion was completed in April 2014. Now, a new generation of people call the Medical Arts Building home!
Location
State TN
County Knox County - 1
Area 0.49
Rooms
Other Rooms LaundryUtility, Mstr Bedroom Main Level
Basement Other
Interior
Interior Features Eat-in Kitchen
Heating Central, Electric
Cooling Central Cooling, Ceiling Fan(s)
Flooring Tile
Fireplaces Type None, Other
Appliance Dishwasher, Disposal, Dryer, Microwave, Range, Refrigerator, Smoke Detector, Washer, Other
Heat Source Central, Electric
Laundry true
Exterior
Exterior Feature Windows - Wood, Windows - Insulated
Parking Features Attached, Other
Garage Description Attached, Other, Attached
Amenities Available Elevator(s), Storage, Security
View City
Garage No
Building
Lot Description Corner Lot
Faces Property is on the corner of Main St and Locust St downtown Knoxville. Street parking is available.
Sewer Public Sewer
Water Public
Architectural Style Other, Historic
Structure Type Stone,Other,Brick,Block
Others
HOA Fee Include Fire Protection,Building Exterior,Association Ins,Security,Grounds Maintenance,Pest Contract
Restrictions Yes
Tax ID 094MD004
Energy Description Electric
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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