Commercial and Apartments on Mendota Trail

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30702637
Property Subtypes: Convenience Store, Day Care Facility, Free-Standing Building, Mixed Use, Restaurant, Tavern/Bar/Nightclub
Status: Pending/Contingent
Building Size (RSF): 5,000 SF
Gross Building Area: 7,500 SF
Gross Land Area: 0.40 - 0.50 Acres
Sale Price: $189,999
Unit Price: $38 PSF
Property Use Type: Investment, Vacant/Owner-User
Usable Size (USF): 7,500 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/5/2021

Overview / Comments

Commercial building with 3-second floor apartments. Near the entrance to the Mendota Trail and adjacent to the trail at the back of the property. Walking distance to trail parking lot. Excellent location for potential bike shop to service the trail, or gift shop with coffee/café style dining options. Huge backyard area that connects directly to the trail. Easily service trail goers with plenty of possibilities. Also, three apartments on the second floor to live in or rent or rent on AirBNB/VRBO as vacation rentals. So many possibilities with this property. There is a lot of work to be done, but at this price, it is ready for someone to start renovation. Beautiful hardwood floors throughout most of the building. A peaceful creek runs thru the back yard with a bridge that crosses the creek over to the trail. Plenty of space to set up outside seating. Building is roughly 5000 square feet (2500 square feet/floor) plus an unfinished basement of about 2500 square feet that could be finished. Basement has stairs from inside the commercial unit and access from the back yard as well.

Additional Details

Nearest MSA: Kingsport-Bristol
County: Washington
Tax ID/APN: 11581
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation
Property Located Between: Exit 3 and Exit 1
Property Visibility: Excellent
Largest Nearby Street: Commonwealth Ave
Highway Access: I-81 Exit 1
Airports: Tri-Cities Airport
Site Description: Approximately .5 acres with 7500 Gross Square Feet of Building. 2500 SqFt of Commercial, 2500 SqFT for 3 2nd Floor Apartments and approximately 2000 sqft unfinished basement with access from the exterior and the interior of the commercial space. Large Back yard with creek and bridge crossing the creek allowing access directly to the Mendota Trail. Walking distance to the trail parking lot.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 2,500 SF
Property Condition: Fair
Year Built: 1949
Roof Type: Gable
Construction/Siding: Block
Exterior Description: Concrete block structure with gable roof with shingles. Roof, shingles, gutters and downspouts need repair. Paved parking area.
Parking Type: Surface
Parking Description: Paved parking area
Heat Type: Electricity
Heat Source: Central, Heat Pump
Air Conditioning: Package Unit
Interior Description: Hardwood floors throughout most of the building. Interior is filled with debris from former resale company. Commercial space mostly just needs paint and cleanup, upstairs residential units need clean up and paint, appliances, and minor ceiling repair from rear of building roof deterioration.
Zoning Description: B2, General Business
Water Service: Municipal
Sewer Type: Septic
Easements: Other
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,814 31,859 50,011
Median Age: 44.91 41.19 42
Households: 1,754 13,879 21,472

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