Historic Downtown - Qualified Opportunity Zone

Retail-Commercial for Sale
Catylist Listing ID: 30642980
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 22,050 SF
Gross Building Area: See Agent
Sale Price: $499,000
Unit Price: $22.63 PSF
In Opportunity Zone? Yes
Property Use Type: Vacant/Owner-User, Business
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/4/2020

Overview / Comments

Qualified Opportunity Zone!

Constructed in about 1920; Historically, known as Morristown Grocery Co. and now a vacant building in Historic Downtown Morristown Central Business District ready for new purpose!

- 22,050 SF Total
- Three stories
- Elevator
- 3 Phase Power
- Fire Sprinkler System throughout – New in 2007
- Covered Back Patio
- Opportunity Zone
- Heavily trafficked, nearby busy intersection averaging 18K +/- cars daily

Great downtown location adjacent to Walgreens, PetSense, The Little Dutch Restaurant, Morristown Farmers Market which has green lawn space that houses festivals, concerts, gatherings and more! Free downtown parking in the rear.

Property has already been approved for Brewery/Taproom. Morristown passed an ordinance late 2019 allowing for breweries and Morristown currently only has 1 getting ready to open around the corner.

Great for an end user or demise and lease out remaining square footage. The following uses would suit well to area: Event/Wedding Venue (only 1 other small indoor venue in town) - Restaurant - Fitness Studio - Ice Cream Parlor – Coffee Shop - Brewery – Retail – Mix Use Retail/Residential

Property may qualify for a Façade Grant.

Contact agent for more details, questions or to view

Additional Details

Nearest MSA: Morristown
County: Hamblen
Tax ID/APN: 032034P L 01700
Zoning: CBD
Year Built: 1920
Construction/Siding: Brick
Freight Elevators: 1
Sprinklers: Dry
Lot Frontage: 64'
Lot Depth: 114'
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,397 29,635 45,909
Median Age: 34.19 37.02 38.71
Households: 3,505 11,632 18,030

Contact

Photograph of Listing Agent

Leslie Jo Deaderick

Re/Max Real Estate Ten KAAR CIE Member
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