Shoppes at Winged Deer For Sale

Retail-Commercial for Sale
Catylist Listing ID: 30626229
Property Subtypes: Mixed Use, Other
Building Size (RSF): 24,326 SF
Gross Building Area: 25,134 SF
Gross Land Area: 2.59 Acres
Sale Price: $2,200,000
Unit Price: $90.44 PSF
Property Use Type: Business
Building Name: Shoppes at Winged Deer
Sale Terms: Cash to Seller
Cap Rate: 6.8%
Average Occupancy Rate: 90
Last Updated: 10/30/2020

Overview / Comments

For Sale!! Passive income retail strip center property on Bristol Hwy in Johnson City. On target to make $225,000 in gross income in 2020. Multiple newly renewed leases, and long term tenants. Two brick exterior buildings, well maintained. Steady, consistent passive income profit stream with consistently high occupancy rate.

Beautiful part of town, near Boone Lake, and next to Winged Deer Park. Frontage of property is over 300 feet on Bristol Highway, with traffic counts between 22,000 and 28,000 per day.

Currently nine leases. 140 parking spaces.

Additional Details

Nearest MSA: Johnson City
County: Washington
Tax ID/APN: 090022 07309
Zoning: B-4
Retail Clientele: General, Family, Business, Other
Property Located Between: Winged Deer Park and Motor Mile in Johnson City
Property Visibility: Excellent
Largest Nearby Street: Bristol Hwy
Feet of Frontage: 310
Traffic/Vehicle Count: 25,000
Highway Access: Bristol Hwy, and access to I-26 2.8 Miles South.
Airports: Tri-Cities Airport
Site Description: Two Brick Strip Centers for retail/office along frontage on Bristol Highway in Johnson City.
Area Description: Johnson City is ranked as the No. 65 "Best Small Place for Business and Careers" in the US by Forbes,[8] and No. 5 in Kiplinger's list of "The 10 Least-Expensive Cities For Living in the U.S.A." stating the low cost of living is attributed to affordable homes and below-average utility, transportation and health-care costs.[9] Johnson City is the principal city of the Johnson City Metropolitan Statistical Area, which covers Carter, Unicoi, and Washington counties[10] and had a combined population of 200,966 as of 2013.[11] The MSA is also a component of the Johnson City–Kingsport–Bristol, Tennessee–Virginia Combined Statistical Area – commonly known as the "Tri-Cities" region. This CSA is the fifth-largest in Tennessee with an estimated 500,538 people in residence. Johnson City is in east Tennessee. It's known for outdoor activities at Winged Deer Park, which offers boating and disc golf, and Buffalo Mountain Park, with trails and sweeping views. Northwest of the city, Gray Fossil Site and Museum is an active Miocene-era excavation site with mastodon fossils. To the east, Sycamore Shoals State Historic Park is a former Cherokee site with a replica of 18th-century Fort Watauga.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Year Built: 1998
Exterior Description: Brick construction, with Facade parapet along top face
Total Parking Spaces: 140
Parking Ratio: 7.1 (per 1000 SF)
Parking Type: Surface
Parking Description: Surface, no assigned parking. 140 spaces.
Heat Type: Electricity
Heat Source: Central
Zoning Description: B-4
Lot Frontage: 310 feet
Lot Depth: 312' and 450'
Water Service: Municipal
Sewer Type: Municipal

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,001 21,839 62,639
Median Age: 37.12 42.48 41.49
Households: 1,107 9,626 27,311

Contact

Photograph of Listing Agent

Stephen J Goodson, ChFC

Remax Checkmate, Commercial Division NETAR CMLS Member
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Northeast Tennessee Association of REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.