Retail Building For Sale or Lease

Retail-Commercial for Sale
Catylist Listing ID: 30837507
Property Subtypes: Free-Standing Building
Building Size (RSF): 9,014 SF
Gross Building Area: See Agent
Gross Land Area: 1.05 Acres
Sale Price: $850,000
Unit Price: $94.30 PSF
Property Use Type: Vacant/Owner-User
Usable Size (USF): 9,014 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/9/2023

Overview / Comments

This 1.05-acre tract is improved with a 9,014 SF retail building that is currently leased to Dollar General Corporation through 12/31/2023. The store is not in operation, as a new larger format (12,687 SF) Dollar General Market recently opened directly across the highway from this property.

Some possible uses to consider: general merchandise store; hardware store, auto parts store; entertainment (arcade, etc.)

A Tennessee Department of Transportation highway expansion project known as the Highway 32 Project is anticipated in the next few years. Conceptual plans indicate that the subject property will lose some of the front area with parking spaces. However, the property has additional undeveloped land adjacent to the side parking lot that could possibly provide for additional parking, possibly 16 spaces.

. Stand-alone retail building
. Available for occupancy 01/01/2024; rental income
. Anticipated T.D.O.T. Highway 32 Project for highway expansion
. Cosby Elementary and High School are located nearby, across the highway

Attachments & Media

Financials

Finance Data Year 2022
Real Estate Taxes - Annual($) $5,461 (Annual)

Additional Details

Nearest MSA: Newport
County: Cocke
Tax ID/APN: 015102 025.25
Zoning: UNZONED
Retail Clientele: General, Family, Traveler, Tourist
Property Located Between: Cosby Highway and Padgett Mill Road
Property Visibility: Excellent
Largest Nearby Street: Cosby Highway (US 321)
Feet of Frontage: 156
Highway Access: Cosby Highway
Site Description: Irregularly-shaped, mostly level lot at road grade. Deeded easement for septic system on another owner's lot to rear of the property. Parking in front and on one side of building, with grassy area available for additional parking if needed.
Area Description: Located in an area of retail and grocery stores, a warehouse, restaurants and bakery, and schools.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 9,014 SF
Property Condition: Good
Year Built: 2006
Roof Type: Flat
Parking Type: Surface
Parking Description: Onsite, paved
Zoning Description: Unzoned
Lot Frontage: 156.4
Lot Depth: 249.45
Water Service: Municipal
Sewer Type: Septic
Easements: Other
Easements Description: Deeded easement for septic system on another owner's lot to rear of the property.
Land Ownership: Fee Simple
Legal Description: 102 025.25

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,706 3,641 8,108
Median Age: 42.36 42.17 43.15
Households: 683 1,445 3,301

Contact

Photograph of Listing Agent

David L. Gothard

NAI Koella | RM Moore KAAR CIE Member
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