Commercial Lot/Buildings in Newport

Retail-Commercial for Sale
Catylist Listing ID: 30328433
Property Subtypes: Convenience Store, Restaurant, Retail-Pad, Service Station/Gas Station
Building Size (RSF): 3,952 SF
Gross Building Area: See Agent
Gross Land Area: 0.53 Acres
Sale Price: $223,000
Unit Price: $56.43 PSF
Property Use Type: Vacant/Owner-User
Building Name: None
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 2/19/2019

Overview / Comments

This mid-city 0.53-acre corner lot has 150 ff on W. Broadway in Newport, TN. It receives traffic from Highway 411 including Morristown, Greenville, and I-75 traffic. It is the direct route to the Great Smoky Mountains National Park East to Cosby and Gatlinburg, and is neighbor due south to Hot Springs. The two buildings (402 and 408) are currently used for storage. The white cinderblock building, built in 1963, is a 3,000 sq.ft. open style commercial building. The smaller brown building, built in 1935, is 952 sq.ft. and was previously operated as a small office and tavern. It is both iconic and historical. In the 1930's and 40's it originally was a tavern. It's name was known far and wide and even now is famously recalled by many old timers from the 30's and 40's. It was called "The Rabbit". Parking in front is paved, side is graveled, and rear is grass. Tree line at rear serves as the property line.

Additional Details

Nearest MSA: Newport
County: Cocke
Tax ID/APN: 047P B 005.00
Zoning: NONE
Property Located Between: Locust Avenue and Miracle Avenue
Highway Access: West Broadway; Locust Avenue
Site Description: Level 0.53-acre corner lot improved with two buildings currently used for storage. Highway frontage on W. Broadway and Locust Avenue.
Area Description: Located within two miles of the intersection of 25 W and 25 E, with side road access to the local industrial by-pass and neighboring industrial park.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Year Built: 1963
Construction/Siding: Brick
Parking Type: Surface
Parking Description: Onsite, paved in the front, graveled on the side
Zoning Description: None
Lot Frontage: 150
Lot Depth: 158
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: Map 047P, Group B, Parcel 005.00, Lot C 7/12

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,634 11,277 18,549
Median Age: 41.72 40.03 41.65
Households: 1,173 4,763 7,743


Photograph of Listing Agent

Ron H Rader

NAI | RM Moore KAAR CIE Member
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