Leased Restaurant for Sale

Retail-Commercial for Sale
Catylist Listing ID: 30773567
Property Subtypes: Free-Standing Building, Restaurant
Building Size (RSF): 4,000 SF
Gross Land Area: 31,600 SF
Sale Price: $965,000
Unit Price: $241.25 PSF
Ceiling: 9 ft.
Property Use Type: Net Leased Investment (NNN)
Building Name: Pizza In & Out
Usable Size (USF): 4,000 SF
Sale Terms: Cash to Seller
Cap Rate: 7.9%
Average Occupancy Rate: 100
Last Updated: 1/3/2022

Overview / Comments

Modern well-maintained pizza buffet on a busy 5-lane. Price includes built-in fixtures and walk-in coolers.

Great open floor plan and kitchen location would allow conversion to other venues at lease expiration.

Additional Details

Nearest MSA: Morristown
County: Hamblen
Tax ID/APN: 032033NK01702
Retail Clientele: Family, Business, Recreation
Property Located Between: Home Depot and Morristown Hamblen Hospital
Property Visibility: Excellent
Largest Nearby Street: West Andrew Johnson Highway
Feet of Frontage: 171
Traffic/Vehicle Count: 40,000
Highway Access: 5-lane West Andrew Johnson Highway
Site Description: Level and accessible
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 4,000 SF
Property Condition: Good
Year Built: 1977
Year Renovated: 2018
Construction/Siding: Brick
Exterior Description: Attractive low maintenance brick facade.
Total Parking Spaces: 40
Parking Ratio: 10 (per 1000 SF)
Parking Type: Surface
Parking Description: Asphalt
Sprinklers: None
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Package Unit
Internet Access: DSL
Lot Frontage: 171
Lot Depth: 201
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines
Easements Description: Along frontage
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,303 28,822 46,837
Median Age: 34.17 37.27 38.9
Households: 1,621 11,334 18,425

Contact

Photograph of Listing Agent

Michael E. Green, CCIM MAI SIOR

Century 21 Legacy
NETAR CMLS Member
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