The Southern Restaurant

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30796548
Property Subtypes: Restaurant
Status: Pending/Contingent
Building Size (RSF): 1,820 SF
Gross Land Area: 1,924 SF
Sale Price: $500,000
Unit Price: $274.73 PSF
Ceiling: 9 ft.
Property Use Type: Business
Building Name: The Southern Restaurant
Usable Size (USF): 1,820 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 5/3/2022

Overview / Comments

An Award-Winning profitable restaurant for sale in the heart of Elizabethton, TN 37643. This restaurant has been part of the downtown-community for nearly 100 years. The restaurant has preserved recipes from the local region and continues to deliver southern comfort home style cooked meals. Keep the theme or change it – you’ll own it!!

The restaurant space is about 2,400 sq ft with seating for 74. Furniture, fixtures, inventory and equipment are included in the asking price. The restaurant is supported by 14 employees. The seller will provide 4 weeks of training to the new owner. In addition, the seller will remain as a paid consultant for up to 3 months after the closing date.

Many upgrades have been made over the last couple of years:
1) New sewer line drop
2) New floor in dining area
3) New prep-area floor plan
4) New Grill

Don't miss out on this amazing opportunity to own your own establishment and own your future!

Additional Details

Nearest MSA: Johnson City
County: Carter
Taxing Authority: Carter County Assessor
Tax ID/APN: 041F C 00500 000041F
Retail Clientele: General, Family, Business, Tourist
Property Located Between: Broad and Elk
Property Visibility: Excellent
Largest Nearby Street: Elk Avenue
Feet of Frontage: 24
Traffic/Vehicle Count: 3,779
Highway Access: East Elk is an Arterial Street with 1-way traffic and ample parking on both sides.
Site Description: Building covers the entire lot.
Area Description: Elizabethton is the Carter County seat and is a quaint small town in the Appalachian Mountains of East Tennessee.
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: 2021
Roof Type: Flat
Construction/Siding: Brick
Parking Description: On street parking in nearly every direction.
Sprinklers: None
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Package Unit
Internet Access: Cable
Interior Description: Open community-friendly seating in the front for 74. Rear modern and functional kitchen. Very unique southern-chic restroom.
Zoning Description: B-3, Central Business allows restaurants and a host of other retail and office.
Water Service: Municipal
Sewer Type: Municipal

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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


Photograph of Listing Agent

Michael E. Green, CCIM MAI SIOR

Century 21 Legacy
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