Value Add Retail for Sale

Shopping Center for Sale
Catylist Listing ID: 30298603
Property Subtypes: Neighborhood Center, Net Leased, Other
Building Size (RSF): 103,630 SF
Gross Land Area: 10.61 Acres
Sale Price: $3,250,000
Unit Price: $31.36 PSF
Property Use Type: Investment
Building Name: Bemberg Center
Sale Terms: Undisclosed
Cap Rate: Undisclosed
Last Updated: 12/13/2018

Overview / Comments

Value add commercial investment available. This former Wal Mart is superbly located along Elk Avenue in Elizabethton. Traffic counts average over 25,000 cars per day in front of the site. Property sits on over 10 acres with signalized access and over 450 parking spots. Existing owners have done extensive renovations since purchasing the property. Big Lots has a lease in place for 38,464 sf through January 2027. Additional 64,984 sf is immediately available, an offers tremendous upside to any buyer. Asking price is less than $32 psf.

Attachments & Media

Additional Details

Nearest MSA: Johnson City
County: Carter
Retail Clientele: General
Property Visibility: Excellent
Traffic/Vehicle Count: 25,000
Highway Access: Two access points from Elk Avenue, including one signalized.
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 103,630 SF
Property Condition: Good
Year Renovated: 2017
Roof Type: Flat
Construction/Siding: Block
Parking Ratio: 4.5 (per 1000 SF)
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,099 20,756 42,362
Median Age: 42.52 42.36 41.23
Households: 2,170 8,766 17,891

Contact

Photograph of Listing Agent

Matt Reed

Baker Storey McDonald Properties
KAAR CIE Member
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