Business Opportunity

Retail-Commercial for Sale
Catylist Listing ID: 30797350
Property Subtypes: Convenience Store, Free-Standing Building, Garden Center, Restaurant
Building Size (RSF): 7,448 SF
Gross Land Area: 2.40 Acres
Sale Price: $380,000
Unit Price: $51.02 PSF
Property Use Type: Business
Building Name: Red Stone Diner
Usable Size (USF): 7,448 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/15/2022

Overview / Comments

Location, Location. Location! located just 3 minutes from the Natural Tunnel State Park, this property has it all! A licensed 36 seat restaurant, that serves up typical diner food, a produce store and a rented apartment out back that earns $500.00 a month. Natural Tunnel Park is a large tourist attraction and has thousands of visitors each year, of which a HUGE percent visits the diner, since it is so close and and the food is amazing. You also have boat ramps and adventure rides just a few minutes down the road in the other direction. This is a winner of a location and is ready to work NOW! Will open for the summer season on April 11, stop by and check it out! Pre-covid it was open 7 days a week with plenty of local customers!
2013 appraisal came in at $350,000.00, that was BEFORE the renovation and addition was done to the restaurant!

Additional Details

Nearest MSA: Kingsport-Bristol
County: Scott
Tax ID/APN: 100 A 49
Zoning: COMMERCIAL
Retail Clientele: Family, Traveler, Tourist, Recreation
Property Located Between: GAte City and Duffield
Property Visibility: Excellent
Largest Nearby Street: Natural Tunnel Parkway
Feet of Frontage: 289
Highway Access: direct off of Natural Tunnel Parkway
Airports: Tri Cities Airport
Site Description: well maintained, plenty of parking
Area Description: recreational, tourist, boating, rafting
Tenancy: Multiple Tenants
Total Number of Buildings: 3
Number of Stories: 1
Property Condition: Excellent
Year Built: 1955
Year Renovated: 2017
Construction/Siding: Block
Total Parking Spaces: 25
Parking Type: Surface
Sprinklers: None
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Engineered System

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Demographic Statistics

Proximity: 5 miles
Total Population: 4,796
Median Age: 43.19
Households: 1,891

Contact

Photograph of Listing Agent

Cindy Duffy

RE/MAX Cavaliers NETAR CMLS Member
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