Highly Visible Office/Retail

Retail-Commercial for Sale
Also listed as Shopping Center
Catylist Listing ID: 30179350
Property Subtypes: Restaurant, Retail-Pad, Street Retail, Other
Building Size (RSF): 4,060 SF
Gross Land Area: 0.41 Acres
Sale Price: $429,900
Unit Price: $105.89 PSF
Ceiling: 8 ft.
Property Use Type: Investment, Vacant/Owner-User
Building Name: West Elk Avenue Building
Sale Terms: Cash to Seller, Owner Financing, Other
Cap Rate: 7.5%
Last Updated: 11/13/2017

Overview / Comments

Great for Owner-User while the end unit is available. Highly Visible Building for Office, Medical Office, Restaurant or Retail. (Zoned B-2 Arterial Business District) 25,847 Daily Traffic Count.

Existing tenants:
Suite A - Absolute Art
Suite A1- Nationwide Insurance
Suite B - Appalachian Lending

Suite C - AVAILABLE (as of Sept 1,2017) - Existing floor plan & site plan available. (Large open office area, 5 private offices, conference room, break area and restroom.)

Established Location with 26 Parking spaces + 2 Handicap spaces.

Owner Financing Considered!

2/10 mile to Sycamore Shoals Hospital

Interstate 26 / Exit 24 - Hwy 321 E / TN-67 Approximately 10 minutes / 6 miles See real estate sign on right

Financials

Finance Data Year 2017
Real Estate Taxes - Annual($) $6,170 (Annual)
Net Operating Income $32,229 (Annual)
Actual or Proforma Year Proforma
Loan Amount $343,920
Down Payment $85,980
Annual Debt Service $32,229 (Annual)
Interest Rate (APR) 4.75
Amortization Period 20 Years

Additional Details

Nearest MSA: Johnson City
County: Carter
Taxing Authority: Carter County
Tax ID/APN: 040N B 017.00
Zoning: B-2 ARTERIAL BUSINESS DISTRICT
Retail Clientele: General, Family, Business
Property Visibility: Excellent
Feet of Frontage: 175
Traffic/Vehicle Count: 25,847
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Property Condition: Excellent
Year Built: 1988
Construction/Siding: Other
Exterior Description: Textured Block. Roof is EPDM: EPDM is an extremely durable synthetic rubber roofing membrane (ethylene propylene diene terpolymer) widely used in low-slope buildings Heat is central gas. More efficient than electric.
Total Parking Spaces: 28
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Central
Lot Frontage: 175
Lot Depth: 103
Water Service: Municipal
Sewer Type: Municipal

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 2,677 21,382 52,077
Median Age: 43.48 40.71 39.28
Households: 1,095 8,937 22,192

Contact

Photograph of Listing Agent

Tina Holt

Green Commercial Realty, Inc.
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