Kingston Apartments and Commercial Space

Multi-Family for Sale
Catylist Listing ID: 30760827
Property Subtypes: Mixed Use
Number of Units: 9 Units
Building Size (RSF): 13,068 SF
Gross Building Area: See Agent
Sale Price: $800,000
Unit Price: $88,888.89 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 9/14/2021

Overview / Comments

This property is considered a treasured piece of Kingston’s history. What has been known for almost 50 years as a staple in the town of Kingston, Mama Mia’s Pizza is ready for a new concept to come alive within its walls. With revitalization in mind, this space is an ideal fit for a restaurateur who is familiar with the town of Kingston and understands what the residents want and need.

This turn-key space is equipped with:
- Original pizza ovens from New York
- Industrial mixer
- Refrigerator and Freezer
- Dining Room

In addition to the restaurant space, a 2,000 sq. ft. basement exists, with the ability to become another commercial destination or be kept as a basement use.

Along with the street-level/basement commercial space, this unique building also offers nine newly updated apartments. Of these nine units, five currently serve at short-term rentals while four operate as standard 12 mo. lease housing. Unit updates are as follows:
- Front doors
- Decks and Stairs
- Siding
- Windows
- Plumbing
- Paint

The apartments are 100% occupied. There is one additional unit being used as storage that could be converted back to an apartment.

The commercial space is listed for lease. For more information, please see the listing at this link: https://www.kaarcie.com/listing/30717651

Additional Details

Nearest MSA: Knoxville
County: Roane
Tax ID/APN: 073047P C 01000
Percent Occupied: 100%
Community Amenities: Restaurant(s), On-Site Maintenance
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 3
Year Built: 1955
Year Renovated: 2020
Laundry: Shared

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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

Contact

Photograph of Listing Agent

Maddie Haynes

SVN I Wood Properties
Not a member of NETAR CMLS
Photograph of Listing Agent

Cohl Morgan

SVN I Wood Properties
Not a member of NETAR CMLS
Photograph of Listing Agent

Kevin Tipton

SVN I Wood Properties
NETAR CMLS Member
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