Commercial building

Retail-Commercial for Sale
Catylist Listing ID: 30765002
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub
Building Size (RSF): 4,500 SF
Sale Price: $180,000
Unit Price: $40 PSF
Ceiling: 10 ft.
Property Use Type: Investment, Business
Usable Size (USF): 4,500 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/21/2022

Overview / Comments

Currently leased for $1250.00 month to Perfect Peace Bakery and Catering with a Restaurant. Keep tenant or do whatever you want with this 4500 sq ft bldg. located downtown Newport at the intersection of Highway 25/70 and Highway 321 with approximate 14,000 daily traffic count according to TDOT. Plenty of City Parking across the street and just down the road a bit. Seller has vamped this building for a Restaurant / Bakery which is a need downtown. All the equipment stays except a few pieces the tenant owns. The upstairs has access to another entrance from the road to create living quarters which would make a really neat apartment downtown or expand a business for many uses. Next Door is for sale as well which would be a very nice investment for a Brewery or other with a restaurant already in place for food needs (just take out a wall and bam there you are). Tenant pays utilities, Owner pays taxes, insurance and maintenance. Shown by appointment only please. Thanks

Additional Details

Nearest MSA: Newport
County: Cocke
Tax ID/APN: 015047O F 00300
Retail Clientele: General, Business
Property Visibility: Excellent
Largest Nearby Street: Highway 321
Feet of Frontage: 25
Traffic/Vehicle Count: 14,000
Highway Access: Interstate 40, Highway 25/70, Highway 321.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 4,500 SF
Property Condition: Good
Year Built: 1955
Year Renovated: 2020
Roof Type: Flat
Construction/Siding: Block
Parking Type: Surface
Parking Description: Newport Public Lots. Free Parking.
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Other
Internet Access: Cable, Satellite, Fiber Optic
Lot Frontage: 25
Lot Depth: 146
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,945 10,317 17,580
Median Age: 44.32 40.47 41.67
Households: 846 4,427 7,336


Photograph of Listing Agent

Burlin Allen

Re/Max Between the Lakes
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