Great Location!

Retail-Commercial for Sale
Catylist Listing ID: 30807406
Property Subtypes: Free-Standing Building, Street Retail
Building Size (RSF): 5,600 SF
Gross Building Area: See Agent
Gross Land Area: 0.35 Acres
Sale Price: $550,000
Unit Price: $98.21 PSF
Property Use Type: Investment, Business
Building Name: Cherokee Plaza
Sale Terms: Cash to Seller, Sale/Leaseback
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 6/29/2022

Overview / Comments

Great Location! In growth area of 60plus homes being built just up the street. Cherokee Plaza has 3 leased retail spaces. Plaza has approx 5,600 total sq ft which includes 1,600 sq ft unfinished basement. The plaza has 3 storefront units and a total of seven bathrooms.

Unit 1 (currently Gold N Gifts Jewelers operated by the seller) is approx 1,600 sq ft finished main level with kitchenette, 2 baths and bank-style vault. 1,600 unfinished basement with bathroom and kitchenette for storage and office space. Basement has private access with 4' metal door for deliveries. Owner would like to lease back at $2000 a month for at least a year.

Unit 2 (currently leased as a beauty salon) is approx. 1,000 finished sq ft main level with two bathrooms. Extra plumbing has been added. Has two offices. Currently leased at $ 700 a month.

Unit 3 currently leased approx.1400 sqft leased to Nutritional Shop at $ 1000 a month rent

Long term current renters. Use part of the space while renting the other units out.
Includes sign privileges at high traffic Decatur Pike intersection, which could be rented out or used for buyers own purposes, includes 4-sided sign on the property, includes hard wired security system with motion detectors, paved lot is approximately 60x149 with 12 spaces in front of the plaza and additional parking for +/- 12 spaces.

Additional Details

Nearest MSA: Athens
County: McMinn
Tax ID/APN: 054056 10000
Zoning: COMMERCIAL
Retail Clientele: General, Business
Property Located Between: Decatur Pike and Congress Parkway
Property Visibility: Good
Largest Nearby Street: Dupitt
Feet of Frontage: 126
Highway Access: Minutes to I-75
Area Description: In the heart of Growing area of Athens, TN just off I-75
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 5,600 SF
Property Condition: Good
Year Built: 1990
Total Parking Spaces: 24
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Central, Heat Pump
Air Conditioning: Package Unit
Internet Access: Cable
Zoning Description: B-2
Lot Frontage: 126
Lot Depth: 113
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Legal Description: Book 11D Pg 129

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,624 13,852 24,806
Median Age: 40.6 38.74 40.62
Households: 1,966 5,837 10,024
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