3 Rentals - Will Separate

Retail-Commercial for Sale
Also listed as Industrial
Catylist Listing ID: 28615742
Property Subtypes: Free-Standing Building, Mixed Use, Other
Building Size (RSF): 3,578 SF
Gross Building Area: See Agent
Sale Price: $60,000 - 170,000
Unit Price: $16.77 - 47.51 PSF
Property Use Type: Investment
Building Name: Holt Properties
Sale Terms: Cash to Seller
Cap Rate: 11.0%
Last Updated: 2/16/2018

Overview / Comments

Owners are Motivated and want a Quick Sale to relocate with Holt Motors business!!

Each unit can be sold separately or as a whole for $170,000 Total asking price

1600 King Springs: 780 SF 2 Bed / 1 Bath Cottage
Leased for $550 to same tenant for 3 years
Elec Central Heat & Air / Elec Water Heater
Taxes (City & County) $410
Insurance $456

1602 King Springs: 1,886 SF Commercial Building
Holt Signworks Business (Owner/Agent Occupied) Since 1981 to Present
Potential Rental Income: $750 Month
Natural Gas Heat / Window AC
Taxes (City & County) $541
Insurance $763

1604 King Springs: 912 SF 3 Bed / 1 Bath with Drive Under Basement
Leased for $650 - good tenant
Elec Central Heat & Air / Natural Gas Water Heater
Taxes (City & County) $503
Insurance $389

Owner Annual EXPENSES on 3 adjoining properties (Total of Below = $4,672)
Lawn Maintenance: $230 x 7 months = $1,610
Taxes: $1,454
Insurance: $1,608

Properties in a Flood Zone / Owner does not pay for flood insurance
Tenant pays Utilities (Natural Gas, Electric & City Water/Sewer)
I-1 Light Industrial Zoning allows numerous businesses - See attached Map and Zone Description

Owner / Agent - If considering an offer - See TARNET forms attached for review!


Finance Data Year 2016
Real Estate Taxes - Annual($) $1,454 (Annual)
Potential Rental Income $23,400 (Annual)
Net Operating Income $18,728 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Johnson City
County: Washington
Tax ID/APN: 047J E 8.00 9.00 & 10.04
Market Type: Small
Property Located Between: Johnson City & Elizabethton
Road Type: Paved
Property Visibility: Excellent
Largest Nearby Street: Legion Street
Tenancy: Multiple Tenants
Total Number of Buildings: 3
Property Condition: Good

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,272 36,570 75,637
Median Age: 32.67 36.24 38.51
Households: 1,402 15,028 32,294


Photograph of Listing Agent

Tina Holt

Green Commercial Realty, Inc.
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