Grocery Anchored Value Add Shopping Center

Shopping Center for Sale
Catylist Listing ID: 30632416
Property Subtypes: Grocery-Anchored
Building Size (RSF): 77,110 SF
Gross Land Area: 7.70 Acres
Sale Price: $3,750,000
Unit Price: $48.63 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: Allandale Shopping Center
Usable Size (USF): 77,110 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/22/2020

Overview / Comments

Price Less Grocery Store Anchored Shopping Center. 77,110 total SF on +/- 8 acres lot. Growing area in Kingsport. New retail development across the street. Great visibility. Great opportunity to rehab and re tenant for outstanding returns.

Closest Grocery Store is about one-mile driving. Surrounded by many restaurants, such as McDonald’s, Waffle House, Taco Bell, Pizza Hut, Burger King. CVS Pharmacy on right, across the street. Property is about a mile from the Walmart Supercenter, Lowe’s, Tractor Supply and Dollar Tree.

McDonald's restaurant and parcel not included.

Confidentiality Agreement is required.

Attachments & Media

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $52,690 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Kingsport-Bristol
County: Sullivan
Tax ID/APN: 022 065.00
Zoning: B-3
Retail Clientele: General
Property Visibility: Excellent
Area Description: Growing area in Kingsport. New Retail development across the street. Surrounded by many restaurants, such as McDonald’s, Waffle House, Taco Bell, Pizza Hut, Burger King. CVS Pharmacy on right, across the street. Property is about a mile from the Walmart Super Center, Lowe’s, Tractor Supply and Dollar Tree.
Total Number of Buildings: 1
Number of Stories: 1
Year Built: 1981
Roof Type: Flat
Construction/Siding: Block, Brick, Concrete
Parking Type: Surface
Total Parking Spaces: 425
Internet Access: Cable

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,016 22,059 51,455
Median Age: 35.05 42.32 42.21
Households: 1,297 9,468 22,513
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