The location formerly known as the Pacesetters building is one successful read away from being declared surplus by the City of McMinnville.

During Tuesday evening’s regularly scheduled Board of Mayor and Aldermen meeting, the matter was brought forth after it had been recommended by the Building and Grounds Committee in the last February meeting. The committee determined, through data collected by a void analysis, the property was best used as retail or commercial real estate rather than repurposed by the city.

By selling the property, the city stands to receive not only the money earned from the sale of 109 Magness Drive, but sales and property tax as well from the future owner of the lucrative parcel.

According to City Administrator Nolan Ming, the property is placed in a strategic location after the Magness Drive expansion performed by Tennessee Department of Transportation (TDOT) and will make it highly marketable.

In 2021, the 17,200-square-foot building and its property was purchased by the city for $375,000 to facilitate the right-of-way necessary for the Magness Drive expansion. Since, the building has remained dormant as the city deliberated on how best to utilize the space. There have been parties interested in renting or buying the real estate in the past, but the estimated $1.5 million parcel has remained in limbo until research and data revealed the property’s value as a commercial space.

Alderman Sally Brock motioned to declare 109 Magness Drive surplus and Vice Mayor Steve Harvey seconded. All members of the board approved the measure. As it was introduced as an ordinance, it requires two successful reads in order to be made surplus officially.

Ming stated the city is not working or speaking with any prospective buyers yet, but the plan remains to market the property as a commercial or retail space.