Kingston Waterfront Restaurant/Office Opportunity

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30106741
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Street Retail, Tavern/Bar/Nightclub
Status: Pending
Building Size (RSF): 4,579 SF
Gross Building Area: See Agent
Gross Land Area: 1.01 SF
Sale Price: $525,000
Unit Price: $114.65 PSF
Property Use Type: Vacant/Owner-User
Building Name: Kingston Waterfront. Office/Retail/Special Use
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/15/2018

Overview / Comments

This is an opportunity to acquire a unique building with a rich past. It sits on just over an acre on the banks of the Clinch River, with the city riverfront park and boat launch immediately adjacent. The most recent use was as a waterfront bar and grill. Prior history includes Kingston's first boat dealership, a B&B and also was a travelers rest on Tennessee's first state highway prior to interstate construction.

Features include a charming exterior, great visibility and lots of parking. Property is priced with a user's remodeling in mind. Ideal uses would be further restaurant use, medical or dental practices, office type uses with high parking and visibility needs or a B&B.

Two buildings at the rear of the property are included in as-is condition. No value is assigned to these buildings.

Attachments & Media

Additional Details

Nearest MSA: Knoxville
County: Roane
Retail Clientele: General, Family, Business, Tourist
Property Located Between: I-40 and Watts Bar Lake
Property Visibility: Excellent
Largest Nearby Street: Race Street
Feet of Frontage: 180
Traffic/Vehicle Count: 12,203
Highway Access: I-40 Downtown Kingston Exit one mile.
Airports: McGhee Tyson 50 minutes
Site Description: Stately property in unmatched location on knoll overlooking Watts Bar Lake. In past years, this property served as a successful B and B. Following extensive renovations and systems updating in recent years, it's been a popular restaurant and pub. Numerous opportunities for restaurateur, professional offices, innkeeper or family seeking large residence.
Area Description: Scenic Kingston Tennessee on Watts Bar Lake offering city parks, boat ramps, docks and small town feel and full amenities.
Tenancy: Single Tenant
Total Number of Buildings: 3
Number of Stories: 2
Property Condition: Good
Year Built: 1900
Year Renovated: 2010
Exterior Description: High end vinyl siding, metal roof, multiple decks and patios overlooking the lake.
Parking Type: Surface
Interior Description: Hardwood throughout, arched pass throughs, lots of light
Zoning Description: Kingston Commercial
Part of Planned Development?: Yes
Lot Frontage: 180
Lot Depth: 190
Water Service: Municipal
Sewer Type: Municipal
Easements Description: Unknown.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,539 12,469 23,166
Median Age: 42.89 44.54 44.43
Households: 648 5,301 9,751


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