Retail Building with restaurant and bakery

Retail-Commercial for Sale
Also listed as Business Opportunity
Catylist Listing ID: 30841585
Property Subtypes: Restaurant, Tavern/Bar/Nightclub
Building Size (RSF): 8,000 SF
Gross Building Area: See Agent
Gross Land Area: 0.69 Acres
Sale Price: $639,000
Unit Price: $79.88 PSF
Ceiling: 10 ft.
Property Use Type: Investment, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 6/1/2023

Overview / Comments

This property consists of 3 parcels with a retail center. The retail center has one restaurant and one bakery.. The third parcel included is a paved parking area adjacent to the existing parking area.
The building and parking area is offered at $639,900.00. The restaurant pays rent of $2400,00 a month and the bakery lease is $800.00 a month. The building was built in 1973 and received a major update in 2018. Updates include plumbing, electric, kitchens, rest rooms, water lines, gutters and HVAC. The building has 7 restrooms, all updated or built new in 2018 and 2020. It has 2 separate kitchens, both with hood systems, approved and inspected fire suppression systems, updated gas lines, 4 walk in coolers, 2 offices and storage room. Camera's and security system also installed. The building is located in downtown Rockwood on a 4 lane state highway.

Current Tenants

Tenant Business Name Cadillace Grill LLC
Contact Name Cadillac Grill
Industry Type Accommodation and Food Services
Is Renting? Yes
Employees Total 14
Year Founded 2018
Current Rent $2,400 PSF (Annual)
Tenant Business Name Bakery
Is Renting? Yes
Current Rent $800 PSF (Annual)

Additional Details

Nearest MSA: Knoxville
County: Roane
Submarket Type: Central Business District
Taxing Authority: Rockwood City and Roane County
Tax ID/APN: 073054L D 00300, 073054L D 002.00, 070354L D 0002.01
Zoning: C 2
Retail Clientele: General, Business
Property Located Between: E Rockwood St and E Wheeler Street
Property Visibility: Excellent
Largest Nearby Street: US Hwy 27
Feet of Frontage: 290
Traffic/Vehicle Count: 12,125
Highway Access: Property sits on US Hwy 27, a four lane state highway.
Site Description: Property is located on US Hwy 27 in downtown Rockwood. Next door is a new retail building.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Property Condition: Excellent
Year Built: 1973
Year Renovated: 2018
Roof Type: Flat
Construction/Siding: Block, Metal/Glass, Metal Siding, Steel Frame
Exterior Description: Metal and brick exterior with Glass fronts and doors.
Total Parking Spaces: 48
Parking Type: Surface
Parking Description: Asphalt parking lot. One are is new and added in 2022. The rest has been sealed and stripped.
Sprinklers: None
Heat Type: Electricity, Natural Gas
Heat Source: Central, Wall Units
Internet Access: Cable, Fiber Optic
Interior Description: All new interior and ceilings. Concrete floors.
Zoning Description: C 2
Lot Frontage: 290
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Pelican Enterprises Inc
Legal Description: 054L D 003.00, 054L D 002.00, 054L D 002.01

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,207 7,654 8,999
Median Age: 42.77 45 45.04
Households: 1,328 3,179 3,710

Contact

Photograph of Listing Agent

Jacki Hill

Coldwell Banker Jim Henry & Associates
KAAR CIE Member
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