Catylist ID:
#30626229
Shoppes at Winged Deer For Sale
Retail-Commercial
for Sale
Sale Pending/Contingent
| Catylist Listing ID: | 30626229 |
| Property Subtypes: | Mixed Use, Other |
| Status: | Pending/Contingent |
| 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: | 2/19/2021 |
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 |
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 |
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