Commercial Corner, north Cleveland TN

Retail-Commercial for Sale
Catylist Listing ID: 30046995
Property Subtypes: Free-Standing Building, Street Retail, Vehicle Related
Building Size (RSF): 1,260 SF
Gross Building Area: See Agent
Gross Land Area: 0.46 Acres
Sale Price: $399,000
Unit Price: $316.67 PSF
Property Use Type: Net Leased Investment (NNN), Vacant/Owner-User
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 12/13/2017

Overview / Comments

This property is the North West Corner of busy Lighted Interchange within the growth corridor leading north from Cleveland to major industrial / manufacturing employment (both existing and new) in north Bradley County TN. The approximate ½ acre lot has 125 ft frontage on North Lee Hwy (5-lane State Highway 11) and 125 ft on Stuckey Dr. The on-site building is approx. 1600 sq ft and provides benefit of ‘grandfathered’ set-backs for new zoning ordinances. Current Tenant is on month-to-month lease, but retains a right of first refusal for purchase. Local Employers include Bowater, Olin, Amazon, Lonza, GE Distribution and Wacker. New Residential Developments are announced on the caddy-corner and others are pending announcement now. High demand in this area as two other corners recently sold for commercial uses. This interchange is poised to be the business center of a burgeoning market.

Additional Details

Nearest MSA: Cleveland
County: Bradley
Taxing Authority: City of Cleveland, Bradley County TN
Tax ID/APN: 034F A 002.00
Property Located Between: Corner of Stuckey and N Lee Hwy
Property Visibility: Excellent
Largest Nearby Street: Frontage on N Lee HWY, State Hwy 11
Feet of Frontage: 295
Highway Access: Fronts on Hwy 11
Airports: Cleveland Regional Jetport
Site Description: Level, Developed, Improved. Corner Lot at Lighted Interchange
Area Description: Bradley County is home to established and new manufacturing and distribution centers including Olin, Bowater, Lonza, Wacker Chemie, GE Distribution, Amazon Fulfillment, Duracell, Whirlpool, M&M Mars, Jackson Furniture. 14 of the Top 20 Employers are located with the five-mile radius of this location, including the manufacturers listed above and these other examples: Lee University, Bayer, Whirlpool Call Center, WalMart, Excel, and Tennova Health Care ( 9,000+ jobs). The city of Cleveland is expanding northward along the I-75 and Lee Hwy Corridors.
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Good
Year Built: 1960
Roof Type: Flat
Zoning Description: Commercial
Lot Frontage: 295
Lot Depth: 125
Legal Description: Pt Lot 2 Station, Ramsey Subdivision, Plat Book 1, Page 179

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 24,390 57,059
Median Age: 40.29 37.57
Households: 9,657 22,061


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