Commercial Renovation Downtown Elizabethton

Retail-Commercial for Sale
Catylist Listing ID: 30660984
Property Subtypes: Free-Standing Building, Mixed Use, Restaurant, Tavern/Bar/Nightclub, Other
Building Size (RSF): 4,180 SF
Gross Building Area: See Agent
Gross Land Area: 2,500 SF
Sale Price: $259,000
Unit Price: $61.96 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Usable Size (USF): 4,180 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/10/2020

Overview / Comments

Downtown Elizabethton Building renovation, perfect location for Restaurant, or retail store. Brand new façade, New metal, floating stairs, Hard wood, pine flooring upstairs with Mezzanine, new windows, Sprinkler system installed.

Ready to be finished for end user. Will be sold or leased. Great location, near growing downtown. One block from financial institutions, Coffee, Tap Room, Chamber of Commerce. Ready for someone's new business concept.

If interested in leasing, current lease price ask is $7.60 per sq ft. Renovations were to a collapsing and almost condemned building. Brand new roof, , trusses, 3 phase power and new electrical, new rough in plumbing,

New constructed second floor, new flooring, with framing, New installed (not connected sprinkler), brand new façade and windows.

Additional Details

Nearest MSA: Johnson City
County: Carter
Tax ID/APN: 010041F C 02900
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Convention, Other
Property Visibility: Excellent
Largest Nearby Street: Elk Ave
Feet of Frontage: 25
Traffic/Vehicle Count: 4,035
Site Description: Brick Commercial location in Historic Downtown Elizabethton. Directly on Elk Ave, near Retail and food service businesses
Area Description: Elizabethton, founded in 1799 and incorporated in 1905, is the county seat of Carter County, Tennessee. It is also the site of the first independent American settlement west of both the Eastern Continental Divide and the original thirteen British colonies in America. The Doe River flows underneath the historic Elizabethton Covered Bridge, built in 1882. The Elizabethton Historic District contains a variety of properties ranging in age from the late 1700's through the 1930's including most of Elizabethton’s downtown. A Tennessee Historical Marker located on West Elk Avenue in front of the S.P. Carter Mansion in downtown Elizabethton, commemorates the life and naval career of Samuel Powhattan (S.P.) Carter. The Veterans' Monument obelisk guarded by two short field cannons downtown was originally dedicated in 1904 to both Union and Confederate veterans from Carter County. Elizabethton was first serviced by relatively inexpensive hydroelectric power during the early 1910's, leading to the popular "The City of Power" moniker. The Horseshoe section of the Watauga River is the site of the first hydroelectric dam constructed in Tennessee. In 1922 the City Manager form of government was adopted to replace the Board of Aldermen. Another charter change was made in 1965 to the Modified City Manager-Council form of government.Today, Elizabethton has a population of 14,200 people and occupies approximately nine square miles in Carter County. Elizabethton is a full service city and contains one High School, one Junior High School, and three Elementary Schools. The Elizabethton Municipal Airport is a city owned airport within the city limits and is located only eight minutes from downtown Elizabethton. Elizabethton is also home to a branch of Northeast State Community College located adjacent to the Elizabethton Municipal Airport. Sharing a border with Elizabethton is Johnson City, Tennessee. Elizabethton's central location allows it to be just minutes away from many of East Tennessee's infrastructures including Interstate 26, Interstate 81, Tri-Cities Regional Airport, U.S. Highway 19E, U.S. Highway 321, and U.S. Highway 11E.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 2,500 SF
Year Built: 1926
Year Renovated: 2020
Roof Type: Other
Construction/Siding: Brick
Exterior Description: Brick, with New Wood façade, new windows, new door, and walk area.
Parking Type: Surface
Parking Description: StreetSide parking, downtown
Sprinklers: Wet
Interior Description: Unfinished, with some renovation complete. Awaiting needs of end user. Sprinkler system is installed, but not connected, (can be if needed by end user), New roof, new second floor, drywall, some framing, new front.
Zoning Description: B-3; B-1 permits anything allowed in R-3, grocery stores, drug stores, barber shops, laundry and dry cleaning, pickup stations, laundromats, shoe repair shops, hardware stores, commercial nurseries, gasoline service stations and similar uses B-2 permits any use from B-1, wholesale business, warehouses, storage yards and storage buildings, automobile service and repair establishments, bottling operations, bakeries, stockyards, and flea markets B-3 permits any use from B-1, hotels, motels, automobile sales and service, mobile home sales, personal, business, professional offices, restaurants, funeral homes, and places of amusement and assembly
Lot Frontage: 25
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: LLC

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,227 22,414 36,569
Median Age: 44.37 42.44 41.7
Households: 2,319 9,497 15,228


Photograph of Listing Agent

Stephen J Goodson, ChFC

Remax Checkmate, Commercial Division NETAR CMLS Member
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