Catylist ID:
#30416981
Income-Producing Property - Leasehold Interest
Retail-Commercial
for Sale
Sale Pending/Contingent
| Catylist Listing ID: | 30416981 |
| Property Subtypes: | Free-Standing Building, Mixed Use, Retail-Pad |
| Status: | Pending/Contingent |
| Building Size (RSF): | 5,584 SF |
| Gross Land Area: | 0.71 Acres |
| Sale Price: | $350,000 |
| Unit Price: | $62.68 PSF |
| Property Use Type: | Investment |
| Building Name: | N/A |
| Usable Size (USF): | 5,584 SF |
| Sale Terms: | Cash to Seller |
| Cap Rate: | Undisclosed |
| Last Updated: | 4/8/2021 |
Overview / Comments
|
This property offers an outstanding opportunity for commercial property investors and users. Offered for sale is the bank-owned long-term ground leasehold interest in this multi-tenant retail/office property, a commercially-zoned lot improved with a 5,584 square foot retail/office building. The front unit consists of about 1,966 square feet with additional shared tenant use of about 450 square feet of bathroom space, which is subleased for use as a Baskin Robbins Ice Cream Store. The back unit consists of about 3,168 square feet with shared tenant use of the additional bathroom space. It is currently vacant and offers potential additional rental income. It is attractive office space that was previously occupied as a real estate brokerage office. Possible uses include retail, restaurant, and general or professional office. Contact listing broker for additional terms and financial details regarding the "Prime" ground lease and the sublease. Income-Producing Property - sale of the long-term leasehold interest Excellent sublease for Baskin Robbins Ice Cream Store Highly visible and accessible property on the Parkway (US 441) Heavy average daily traffic count |
Attachments & Media
Additional Details
| Nearest MSA: | Sevierville |
| County: | Sevier |
| Tax ID/APN: | 094C D 026.00 |
| Zoning: | C-2 COMMERCIAL TOURIST DISTRICT |
| Retail Clientele: | General, Family, Business, Traveler, Tourist, Recreation, Convention |
| Property Located Between: | Parkway and Estate Street |
| Largest Nearby Street: | Parkway (US 441) |
| Feet of Frontage: | 80 |
| Traffic/Vehicle Count: | 49,840 |
| Highway Access: | Parkway (US 441) |
| Site Description: | Narrow rectangular-shaped lot, level with highway. Limited parking in front and large parking area in rear. |
| Area Description: | Located in the tourist destination city of Pigeon Forge, TN with numerous restaurants, retail shops, family-oriented attractions, and close to the Great Smoky Mountain National Park. |
| Tenancy: | Multiple Tenants |
| Total Number of Buildings: | 1 |
| Number of Stories: | 1 |
| Typical SF / Floor: | 5,584 SF |
| Property Condition: | Good |
| Year Built: | 1993 |
| Parking Type: | Surface |
| Parking Description: | Onsite, paved with limited parking in front and large parking area in rear. |
| Zoning Description: | C-2 Commercial Tourist District |
| Lot Frontage: | 80 |
| Lot Depth: | 387.22 |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Land Ownership: | Long-term Leasehold Interest |
| Legal Description: | 094C D 026.00 |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 1,616 | 8,136 | 26,206 |
| Median Age: | 45.8 | 40.36 | 40.6 |
| Households: | 642 | 3,184 | 10,409 |
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