Property Description

The historic Old Hosiery Mill of Sweetwater presents a rare large-scale mixed-use development opportunity totaling approximately 56,000 +/- square feet across four buildings in a prime downtown location just off I-75.A standout feature is the expansive 7,500 SF (approx.) 4-bedroom, large 1-bath apartment with a full kitchen located in the upper level above the first market building.. This oversized residential unit provides an ideal opportunity for owner-occupancy while overseeing redevelopment, a live/work setup, or immediate rental income as part of a phased multifamily conversion plan.Master plans have already been completed for loft-style apartments within the mill structure, offering a clear path toward expanded residential development. The building's soaring ceilings, oversized windows, and open industrial spans make it exceptionally well-suited for adaptive reuse into loft residences, mixed-use space, or multifamily units.The property currently includes Market at the Mill operating under a 10-year lease, providing stabilized income while future residential units are developed -- making this an attractive option for investors seeking both cash flow and long-term upside.Investment Highlights:-Approx. 56,000 +/- SF across four buildings-7,500 SF 4BR apartment ideal for owner-occupancy or rental income-Master plans completed for additional loft development-Long-term commercial tenant in place-Historic architecture with high ceilings and industrial character-Walkable Main Street location in growing Sweetwater-Strong access from I-75 with ample parking-Potential 1031 exchange replacement propertyThis property offers the rare combination of stabilized income, residential scale, and value-add multifamily expansion in one of East Tennessee's growing downtown corridors. Ideal for developers, adaptive reuse investors, and buyers seeking a potential 1031 exchange opportunity with both immediate cash flow and long-term development upside.

Property Features