585 E ANDREWS JOHNSON HWY (11-E)—1.18± ACRE, 325± FT. FRONTAGE

Retail-Commercial for Sale
Sale Pending/Contingent
Also listed as Vacant Land
Catylist Listing ID: 30647779
Property Subtypes: Convenience Store, Free-Standing Building, Mixed Use, Parking Facility, Vehicle Related, Other
Status: Pending/Contingent
Building Size (RSF): 1,435 SF
Gross Land Area: 1.18 Acres
Sale Price: $412,500 - 425,000
Unit Price: $287.46 - 296.17 PSF
Ceiling: 8 ft.
In Opportunity Zone? Yes
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: 585 E ANDREW JOHNSON HWY 11-E
Usable Size (USF): 1,435 SF
Core Factor: 1%
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 80
Last Updated: 9/21/2021

Overview / Comments

GREENEVILLE 11-E By-Pass location with 323 ft. road frontage for this 1.18 ACRE LEVEL LOT. • HIGH TRAFFIC COUNT of 30,500 plus Average Daily Traffic Count at this CHOICE LOCATION on HWY 11-E, EAST ANDREW JOHNSON HWY, across from CHINA BUFFET, west-bound side of four-lane. • Annual income potential with 1435 sq.ft former store, unfinished mechanics basement, car-lot office building, locked fenced lot, and open parking lot. Disclosure agreement required to review annual income. • Certification is available that former fuel tanks have been REMOVED.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $4,565 (Annual)
Tax Value Land $225,700
Tax Value Improvements $48,500
Tax Value Personal Property $0
Assessed Value - Total($) $274,200 (Annual)
Potential Rental Income $22,800 (Annual)
Gross Operating Income $22,800 (Annual)
Net Operating Income $18,235 (Annual)
Actual or Proforma Year Proforma
Lender Name NONE
Down Payment $0
Annual Debt Service $0 (Annual)
Amortization Period 00

Current Tenants

Tenant Business Name BUBBA AUTO SALES
Contact Name UNKNOW
Industry Type Transportation and Warehousing
Is Renting? Yes
Annual Revenue $6,000 (Annual)
Employees Total 2
Employees at Location 2
Suite Number 583
SF of Space Occupied 300 SF
Current Rent $500 PSF (Annual)
Escalations NONE
Options NONE
Tenant Notes MONTH TO MONTH RELATIVE RENTS THE SMALL BUILDING AND LOT
Tenant Business Name THE HEMP STORE
Contact Name RYAN ROLANDS
Contact Title OWNER / OPERATOR
Is Renting? Yes
Annual Revenue $16,800 (Annual)
Employees Total 2
Employees at Location 2
Year Founded 2021
Suite Number 585
Current Rent $1,400 PSF (Annual)
Escalations NONE
Options NONE
Tenant Notes TENANT SUBLEASES TO ANOTHER TENANT SMALL ENGINE REPAIR SHOP IN THE BASEMENT.

Additional Details

Nearest MSA: Greeneville
County: Greene
Taxing Authority: GREENEVILLE / GREENE COUNTY
Tax ID/APN: 030087 07600
Zoning: B-4
Retail Clientele: General, Family, Business, Traveler, Tourist
Property Located Between: SUBWAY restaurant and CLAYTON MOBILE HOMES
Property Visibility: Excellent
Largest Nearby Street: INDUSTRIAL ROAD
Feet of Frontage: 323
Highway Access: TWO ACCESS cuts at HWY 11-E, westbound side of four-lane
Airports: Greeneville Municipale, 3 miles; Tri-Cities 36 miles; Knoxville M-T, 84 miles.
Site Description: LEVEL LOTS WITH 323 ROAD FRONTAGE NORTHSIDE OF HWY 11-E, EAST ANDREW JOHNSON HWY
Area Description: HIGH TRAFFIC COUNT WITH OVER 30,000 AVG DAILY TRAFFIC COUNT
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Typical SF / Floor: 750 SF
Property Condition: Fair
Year Built: 1973
Year Renovated: 2005
Roof Type: Flat
Construction/Siding: Block, Brick
Exterior Description: BRICK on block building, flat roof, parking, metal canopy; former gas station; tanks have been removed.
Total Parking Spaces: 12
Parking Ratio: 8.2 (per 1000 SF)
Parking Type: Surface
Parking Description: OPEN SURFACE, ASPHALT AND GRAVEL
Sprinklers: None
Internet Access: Cable, DSL, Satellite
Interior Description: rough, garage, needs work
Zoning Description: M-1, B-4
Lot Frontage: 323
Lot Depth: 140 - 300 ft
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,096 19,843 31,622
Median Age: 41.16 41.22 41.98
Households: 1,750 8,213 12,966

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