*Reduced* Restaurant off I-40 with 1.8 Acres

Retail-Commercial for Sale
Catylist Listing ID: 30138807
Property Subtypes: Free-Standing Building
Building Size (RSF): 6,456 SF
Gross Building Area: See Agent
Gross Land Area: 1.80 Acres
Sale Price: $624,000
Unit Price: $96.65 PSF
Property Use Type: Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/29/2017

Overview / Comments

1.8 acres with free-standing restaurant 0.2 miles off Interstate 40 at Exit 432. Located next to campgrounds, hotels, and gas stations. Busy Interstate corridor.

Currently owner occupied with successful restaurant business. Business is not for sale. Owner will vacate.

6,456 sf building with ample parking. Restaurant has two sections: a dining section and a bar section with a Texas-sized bar, dance floor, and stage with surrounding seating. Dance floor can be used for dining as well.

Restaurant equipment included in the price:
- Two hoods
- Two 8'x12' walk-in coolers
- New grease trap
- 5'x5' reach-in cooler
- Various sinks, counters, and drainboards

Average daily car counts
- Interstate 40 at Exit 432 - 26,000 daily
- Highway 25/70 - 14,000 daily

Remaining furniture, fixtures, and equipment also available for purchase. Owner would consider selling adjoining 6 acre parcel.

Additional Details

Nearest MSA: Newport
County: Cocke
Property Visibility: Excellent
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 6,500 SF
Property Condition: Good
Year Built: 1978
Year Renovated: 2000
Roof Type: Flat
Parking Type: Surface
Parking Description: Ample parking

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,213 5,007 18,834
Median Age: 40.94 40.66 42.02
Households: 849 2,110 7,865

Contact

Photograph of Listing Agent

Mark Shipe

Holrob KAAR CIE Member
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