Hargroves Property

Retail-Commercial for Sale
Catylist Listing ID: 30500977
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Street Retail, Other
Building Size (RSF): 18,000 SF
Gross Land Area: 1.20 Acres
Sale Price: $999,000
Unit Price: $55.50 PSF
Property Use Type: Vacant/Owner-User
Building Name: Former Statzer's Cafeteria
Usable Size (USF): 18,000 SF
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 9/20/2021

Overview / Comments

Great Signalized corner with 2 buildings! The Owner may be willing to split the properties, but this sale price includes both buildings and contains +/- 1.20 acres. Both buildings are in good shape and can be manipulated to accommodate a multitude of uses. The building in the front is the former Statzer's Cafeteria and is still in good condition, and the building in back is a former accounting office and has two levels of Flexible office space which is in very good condition.
The Owner may consider splitting the properties as they each have their own addresses and parking areas.

Attachments & Media

Additional Details

Nearest MSA: Kingsport-Bristol
County: Washington
Taxing Authority: Washington County
Tax ID/APN: 103 A 2132 2B;103 A 213 2B1
Zoning: B-2
Retail Clientele: General, Business, Recreation, Other
Property Located Between: Corner of Elementary Drive and Porterfield Hwy.
Property Visibility: Excellent
Largest Nearby Street: Porterfield Hwy
Highway Access: Property has direct access to Porterfield Hwy and Elementary Drive
Airports: Highlands Community Airport; Tri Cities Regional Airport
Site Description: Nearly level 1.20 acres on a signalized corner at one of the busiest stretches of Portfield Hwy in Southwest Virginia just outside of the town limits of Abingdon, VA.
Area Description: Porterfield Hwy is Route 19/58 which connects Southwest Virginia and Eastern Kentucky with Abingdon and Interstate I-81. This business corridor sustains incredibly high traffic counts from Western Virginia into Abingdon and the Tri Cities.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Property Condition: Good
Year Renovated: 1995
Roof Type: Gable
Construction/Siding: Block, Brick, Wood Frame
Exterior Description: Both buildings have exterior which comprise mostly of Brick/block.
Parking Type: Surface
Parking Description: Surface parking with spaces
Sprinklers: None
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Package Unit
Internet Access: Cable, DSL, Satellite, Fiber Optic
Interior Description: Building 1 is in transition but is still viable for many uses, ceilings are mostly 10'. Building 2 is in very good shape and will little exception could be moved into immediately for office use.
Zoning Description: B-2, business class 2 which holds the widest commerical/business use in the County and can support many retail as well as office uses.
Lot Frontage: 210'
Lot Depth: 240'
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Easements Description: Normal easements for access as well as utilities.
Land Ownership: Fee Simple
Legal Description: Upon Request.

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 8,775 17,414
Median Age: 46.67 45.03
Households: 4,042 7,850


Photograph of Listing Agent

Richard S. Armstrong, III

TCI Group - Lowry & Foster, Inc. NETAR CMLS Member
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