For Sale | Investment Property | Benton, TN

Retail-Commercial for Sale
Catylist Listing ID: 30738160
Property Subtypes: Free-Standing Building, Garden Center, Mixed Use, Restaurant, Retail-Pad, Street Retail, Tavern/Bar/Nightclub, Other
Building Size (RSF): 3,460 SF
Gross Land Area: 0.27 Acres
Sale Price: $289,000
Unit Price: $83.53 PSF
Ceiling: 9 ft.
Property Use Type: Investment
Building Name: 6165 Hwy 411
Usable Size (USF): 3,460 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 90
Last Updated: 7/27/2021

Overview / Comments

This property has 3 suites and is 100% occupied currently with tenants that have occupied their suites for more than one year.

The front suite and small office is occupied by PALS Auction. The owner is an auctioneer that holds estate sales on premise. He has a successful business that is growing. He currently pays $1,100/month for Suites A and C. The square feet is approximately 2,016 SF.

The rear suite is leased to The Old Crow Tattoo Parlor. That lease begun May 1, 2020 and was renewed May 1, 2021 and runs through April 30, 2022. The current rent is $850 per month or $10,200 annually. The square feet is approximately 1,624 SF. There is a basement to this suite which the tenant has access to but the rent is calculated primarily on the 1st floor portion of the suite.

All three suite share the gravel parking lot for parking.

Please see the Lease Abstract for additional details about the leases.

The exterior of the building has recently been painted and other minor repairs taken care of.

Additional Details

Nearest MSA: Cleveland
County: Polk
Taxing Authority: Polk County
Tax ID/APN: 070045C D 00900
Zoning: COMMERCIAL
Retail Clientele: General, Business, Traveler, Tourist, Recreation, Convention
Property Located Between: Fronts Hwy 411
Property Visibility: Excellent
Largest Nearby Street: Hwy 411
Feet of Frontage: 105
Traffic/Vehicle Count: 10,000
Highway Access: Fronts Hwy 411 with excellent highway access and rear access to Ward Street. Traffic is high at about 10,000 cars per day.
Airports: Chattanooga Metropoliatan
Site Description: The site is level and at street grade. Their is a gravel parking lot to the front and left side of the building.
Area Description: Polk County has some of the best tubing, rafting and fishing in the southeast and most of these outdoor enthusiast drive by this location. The Ocoee, Hiwassee and Jacks River are close by.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 3,424 SF
Property Condition: Good
Year Built: 1957
Year Renovated: 2015
Roof Type: Arched
Construction/Siding: Block
Exterior Description: The exterior is attractive with a gravel parking lot. Access is excellent.
Total Parking Spaces: 20
Parking Ratio: 5.5 (per 1000 SF)
Parking Type: Surface
Parking Description: The property has a gravel parking lot. Ample parking for tenants and customers.
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Engineered System
Interior Description: There are 3 suites.
Zoning Description: Commercial
Lot Frontage: 136
Lot Depth: 105
Water Service: Municipal
Sewer Type: Municipal

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,846 2,857 4,433
Median Age: 38.93 39.17 40.31
Households: 710 1,101 1,728

Contact

Photograph of Listing Agent

Robert Fisher

KW Commercial Greater Chattanooga REALTORS® Member
Photograph of Listing Agent

Riley Kurtts

KW Commercial Greater Chattanooga REALTORS® Member
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Greater Chattanooga REALTORS® nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.