Downtown Retail/Residential Building for Sale

Retail-Commercial for Sale
Catylist Listing ID: 30340335
Property Subtypes: Convenience Store, Free-Standing Building, Mixed Use, Retail-Pad, Street Retail, Other
Building Size (RSF): 9,000 SF
Gross Building Area: See Agent
Sale Price: $199,000
Unit Price: $22.11 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/30/2020

Overview / Comments

A great building downtown Morristown for sale. Includes the 2 retail stores downstairs, and the 2 lofts upstairs. One of the lofts is bare right now and will need to be constructed or developed. The other units are all rented out. The owner had spoken to an architect for potential fixing up the building to maximize the profits but the owner is retiring and doesn’t have the time to deal with it.
Great opportunity in the growing Morristown area, please don’t bother the tenant. Call the listing agent for questions or showings.
Above one of the retail store, there is a mezzanine for about 1000 sq.ft that could be developed into an apartment as well.
2 units in the bottom pay $400 and $750 per month. The second floor tenant pays $800 per month.

The owner just installed a brand new 25 year rubber roof

Additional Details

Nearest MSA: Morristown
County: Hamblen
Tax ID/APN: 032034I R 00700
Retail Clientele: General, Business
Property Visibility: Excellent
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 3
Property Condition: Average
Roof Type: Flat
Construction/Siding: Brick
Zoning Description: CBD - Central Business District

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,397 29,635 45,909
Median Age: 34.19 37.02 38.71
Households: 3,505 11,632 18,030


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