After Tuesday evening’s Board of Mayor and Aldermen meeting, the old Pacesetters location has been officially declared surplus.

The property situated at 109 Magness Drive was originally purchased in 2021 by the city to facilitate the Magness Drive expansion put in place by Tennessee Department of Transportation (TDOT). Since its purchase, the property has remained vacant, but there has been interest along the way by prospective buyers or renters.

In order for the city to sell a property, it must first be declared surplus, which means the city has no functional use for it. Previously considered as a home for McMinnville Police Department, it was later discovered to be a better generator for property and sales tax by being sold to a new retail or commercial owner during a void analysis. The property has been estimated to be worth approximately $1.5 million and is 17,200 square feet.

Due to its central location and access from the new expansion, it is anticipated to be a highly marketable property for a new business.

The board voted unanimously to declare the property surplus and are set to consider how to sell the building in a future meeting.