Prime Multi-Use or Multi-Family Investment Property

Retail-Commercial for Sale
Catylist Listing ID: 30804984
Property Subtypes: Convenience Store, Day Care Facility, Free-Standing Building, Mixed Use, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 6,500 SF
Gross Land Area: 0.70 Acres
Sale Price: $449,577
Unit Price: $69.17 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Business
Usable Size (USF): 6,500 SF
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 1/24/2023

Overview / Comments

Amazing mixed-use commercial and/or residential investment opportunity! Use all the units for commercial space, or live in one building and lease out the other, or even maybe turn it into a multi-family apartment complex. Either way $$ is to be made!! The property also has a vacant 0.24 acre lot for more expansion if you want to build another building. The older building has 2 units, a top and bottom that are adjoined by a stairwell that can be locked off. The downstairs part has a kitchen, 2 bedrooms, a great room and a full bathroom, and the upstairs has 4 rooms and a full bath to set up as you wish ... giving you the option to live in it all, just live downstairs, or lease them both as commercial. The steel building is also 2 stories... 2-1200sqft units upstairs & 2-1200sqft units downstairs, these 4 units are contracted for $2400 with only 3 tenants.
The owner has taken excellent care of this property ... for everything he's done recently see 'Site Description' below.

Additional Details

Nearest MSA: Crossville
County: Cumberland
Taxing Authority: Cumberland Cnty
Tax ID/APN: 113J C 02901
Retail Clientele: General, Family, Business, Other
Property Located Between: Old Lantana and New Lantana (Hwy 101)
Property Visibility: Excellent
Largest Nearby Street: Hwy 101
Feet of Frontage: 351
Highway Access: Hwy 101 and about 1.5 miles to US Hwy 127 and about 3.5 miles to I-40
Airports: Crossville Municipal Airport
Site Description: The owner has installed 5 new heating & air systems in the past 2 years. Replaced the grinder pump in February 2021 ($3,500), it had a 3 yr warranty new. He replaced the roof on the old building in 2019. Replaced both hot water heaters in the last 3 years. Replaced the neoprene screws on the roof of the steel building in 2021. Replaced all of the light fixtures inside the steel building within the past 2 yrs. Just finished the total remodel of the upstairs unit in the old building. And is now working on the total remodel of the residence unit in the lower part of the old building. Will also be replacing all the windows in the old building the first week of June.
Area Description: Mixed commercial and residential area. Only 1 Mile to the heart of downtown Crossville.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 2
Typical SF / Floor: 1,200 SF
Property Condition: Good
Year Built: 2007
Construction/Siding: Block, Brick, Vinyl Siding
Parking Type: Surface
Parking Description: Parking at street level and also below at downstairs level
Sprinklers: Wet
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Evaporative Cooler
Internet Access: Cable, DSL
Lot Frontage: 351 ft
Lot Depth: 151 ft
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,421 15,808 23,705
Median Age: 40.15 41.26 44.04
Households: 517 6,547 9,910


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