L&S Electronics Downtown Johnson City

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30148907
Property Subtypes: Free-Standing Building, Mixed Use, Other
Status: Pending/Contingent
Building Size (RSF): 10,080 SF
Gross Building Area: 11,000 SF
Gross Land Area: 1.07 Acres
Sale Price: $475,000
Unit Price: $47.12 PSF
Ceiling: 10 ft.
Property Use Type: Vacant/Owner-User
Building Name: Former L&S Electronics
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/13/2018

Overview / Comments

Extremely rare opportunity to own the corner of South Roan and State of Franklin Road in downtown Johnson City!

This property has everything a downtown developer could want: classic 2-story brick mercantile building with interesting architectural features, an operating freight elevator, multiple access points, and an interesting pedigree - formerly known as the Johnson City Ice, Cream and Coal Company.

The bonus: LAND....for expansion....for on-site parking.....for additional buildings and uses, and the list goes on.

Additional Details

Nearest MSA: Johnson City
County: Washington
Taxing Authority: Washington County, TN
Tax ID/APN: Map 46M Group H Parcels 4.0 and 4.01
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Other
Property Located Between: Interstate 26 and East Tennessee State University
Property Visibility: Excellent
Largest Nearby Street: Interstate 26
Feet of Frontage: 45
Traffic/Vehicle Count: 55,000
Highway Access: Property is separated from State of Franklin Road by the railroad tracks. State of Franklin traffic count is approximately 10-12,000 cars at this location.
Airports: TRI is 30 minute drive
Site Description: Nearly level site is bordered by Roan Street on the west, Cherry Street on the south, I-26 on the East and the railroad/Tweetsie Trail/State of Franklin corridor on the North. See Survey
Area Description: This property is just blocks east of ETSU which has enrollment of 15,250, a 10-minute ride (by bicycle of course) from the area's largest employers, including the VA and Mountain States Hospitals, and 2 turns off the Interstate ramp.
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 5,000 SF
Year Renovated: 1970
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: Classic 2-story downtown
Total Parking Spaces: 10
Parking Type: Surface
Parking Description: Loads of room to add buildings and parking and compete with suburban parking ratios.
Freight Elevators: 1
Sprinklers: None
Heat Type: Electricity, Space Heaters
Heat Source: Ceiling Units, Heat Pump
Interior Description: Much of the first floor is a large open retail showroom. The rear of the first floor is divided into 3 large rooms with 6-8' cork walls (former ice and cream space). The second floor is subdivided into several apartments, bathrooms, recording studio, dance/game room, and storage.
Zoning Description: B-2 district requires no on-site parking but does require buildings to be 2-stories or more.
Lot Frontage: 98 on Roan
Lot Depth: 618
Water Service: Municipal
Sewer Type: Municipal
Easements Description: See Survey
Legal Description: See Attached

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,475 48,725 73,534
Median Age: 35.23 37.53 38.38
Households: 4,329 21,044 31,735


Photograph of Listing Agent

Michael E. Green, CCIM MAI SIOR

Green Commercial Realty,Inc. NETAR CMLS Member
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