Food City Plaza South

Retail-Commercial for Sale
Catylist Listing ID: 30319972
Property Subtypes: Street Retail, Other
Building Size (RSF): 56,357 SF
Gross Land Area: 5.73 Acres
Sale Price: $4,200,000
Unit Price: $74.52 PSF
Property Use Type: Net Leased Investment (NNN)
Building Name: Food City Plaza South
Sale Terms: Cash to Seller
Cap Rate: 7.82%
Last Updated: 3/22/2019

Overview / Comments

A Neighborhood Shopping Center Anchored by Food City with a Fuel Center to be built. Property is 100% Leased. Sales price of $4,200,000 is a CAP Rate of 7.82%.

NOTE: This property may be purchased together with Soddy Daisy Plaza (Food City Anchor), located in Soddy Daisy, TN at a combined sales price of $8,700,000 and a combined CAP Rate of 8.2%.

Traffic Count: 24,653 vehicles per day on APD-40.

Located at the intersection of APD-40 and Dalton Pike SE (Hwy 60) across from Walmart.

Directions:I-75 North toward Knoxville. Take exit 20 toward US-64 E/Cleveland. Turn right. Merge onto US-74 E. Turn right. Destination on the left.

Additional Details

Nearest MSA: Cleveland
County: Bradley
Taxing Authority: Bradley County
Tax ID/APN: 066H A 002.01
Zoning: COMMERCIAL
Retail Clientele: General
Property Located Between: APD-40 and Dalton Pike SE (Hwy 60)
Property Visibility: Excellent
Largest Nearby Street: APD 40 - I-75
Traffic/Vehicle Count: 24,653
Highway Access: APD-40 and Dalton Pike SE (Hwy 60), I-75
Area Description: Local shopping & retail at Bradley Square Mall and Wal-Mart shopping centers, as well as various neighborhood strip centers are within the general marketing area.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1982
Roof Type: Flat
Construction/Siding: Block
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Ceiling Units
Air Conditioning: Package Unit
Water Service: Municipal
Sewer Type: Municipal
Legal Description: Harle Hgts Add Lot 6 & Part of Lots 2,3,4,5,7,8 & 10 Deed Acres 5.73

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,517 31,928 52,889
Median Age: 31.66 33.7 36.07
Households: 902 12,094 20,430

Contact

Photograph of Listing Agent

William B Raines Jr.

The Raines Group, Inc. KAAR CIE Member
Photograph of Listing Agent

Richard J Howard

The Raines Group, Inc. Not a member of KAAR CIE
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