Southern Restaurant, building and business
Retail-Commercial
for Sale
| Catylist Listing ID: |
30812919 |
| Property Subtypes: |
Restaurant
|
| Building Size (RSF): |
1,820 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
1,920 SF
|
| Sale Price: |
$459,900 |
| Unit Price: |
$252.69 PSF |
| Property Use Type: |
Business |
| Building Name: |
Southern Restaurant |
| Usable Size (USF): |
1,820 SF |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Average Occupancy Rate: |
100 |
| Last Updated: |
8/8/2022 |
Overview / Comments
Purchase the Southern Restaurant, a staple of downtown Elizabethton, Tennessee. This Award-Winning restaurant sits on the first block of downtown on Elk Street, amidst a growing and thriving corridor. As economic development increases in this area, future values for buildings are rising. And this restaurant location has been part of it for over a century.
Known for their breakfasts, friendly staff, and southern cooking, The Southern is being sold as a turnkey business, to include staff, theme, equipment, current food stores, and the building. Restaurant concept can be kept, or altered to fit the vision of new owners. Restaurant can seat 74, has outdoor dining, and is clean, well established, and renovateed.
Cap ex expenditures have included: New sewer line, dining room floor, New HVAC unit, Grill, Bathroom renovation. Please ask agent about P&L, current sales, and inventory. All info to be verified by buyer or buyer's agent.
|
Financials
| Finance Data Year |
2021 |
| Gross Operating Income |
$510,370 (Annual) |
| Net Operating Income |
$76,929 (Annual) |
| Actual or Proforma Year |
Actual |
Additional Details
| Nearest MSA: |
Johnson City |
| County: |
Carter |
| Taxing Authority: |
Elizabethton |
| Tax ID/APN: |
041F C 00500 000041F |
| Retail Clientele: |
General, Family, Business, Traveler, Tourist, Other |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
E Elk Avenue |
| Feet of Frontage: |
24 |
| Site Description: |
Brick downtown building, 25' wide, visible entering downtown. |
| Tenancy: |
Single Tenant |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Typical SF / Floor: |
1,820 SF |
| Property Condition: |
Good |
| Year Built: |
1926 |
| Year Renovated: |
2019 |
| Roof Type: |
Flat |
| Construction/Siding: |
Brick |
| Exterior Description: |
Sidewalk seating, brick exterior, downtown building |
| Parking Description: |
on Elk Ave. |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
5,227 |
24,123 |
36,324 |
| Median Age: |
44.37 |
42.57 |
41.34 |
| Households: |
2,319 |
10,204 |
15,204 |
|
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The information presented herein is provided as is, without warranty of any kind.
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