South Knoxville Deli

Retail-Commercial for Sale
Sale Pending
Also listed as Business Opportunity
Catylist Listing ID: 30852560
Property Subtypes: Convenience Store, Street Retail
Status: Pending
Building Size (RSF): 3,840 SF
Gross Building Area: 5,120 SF
Gross Land Area: 22,981 SF
Sale Price: $983,000
Unit Price: $255.99 PSF
Property Use Type: Investment, Business
Building Name: Korner Market
Sale Terms: Cash to Seller
Cap Rate: 10.0%
Last Updated: 11/13/2023

Overview / Comments

This is a unique opportunity to own a well-established deli, located in the heart of south Knoxville. Situated on a corner lot in a growing neighborhood with a mix of residential and commercial properties, this business enjoys a steady flow of customers. A 250+ apartment is being developed nearby on Gov. John Sevier Hwy.

With a loyal customer base and prime location, this business has great potential for growth. The store is fully equipped, and has been renovated in 2017. The deli is open for breakfast and lunch, with 50%=/- of NOI coming from the deli.

There is a 1280sf well-maintained mobile home on the property for an owner/user or lease to a key employee.

Seller will consider selling the business (including FF&E) for $360,000 with a lease of both buildings for $4,000/m NNN.

This is an on-going business. Please DO NOT disturb the owner or customers. All interested parties must be accompanied by agent, with 24-hour notice. Seller requires a signed NDA for property & financial information.

Additional Details

Nearest MSA: Knoxville
County: Knox
Taxing Authority: Knox County
Tax ID/APN: 124 20801
Zoning: CA
Retail Clientele: General
Property Located Between: Sevierville Pike & Gov. John Sevier Hwy
Property Visibility: Good
Largest Nearby Street: Sevierville Pike
Traffic/Vehicle Count: 2,250
Highway Access: Gov. John Sevier Hwy
Airports: TYS
Site Description: Corner lot with high visibility
Area Description: Growing south Knoxville location. Close to Gov. John Sevier Hwy.
Tenancy: Single Tenant
Total Number of Buildings: 2
Number of Stories: 2
Typical SF / Floor: 2,560 SF
Property Condition: Average
Year Built: 1974
Year Renovated: 2017
Construction/Siding: Block
Total Parking Spaces: 6
Parking Type: Surface
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Other
Internet Access: Cable
Interior Description: Convenience store and deli with all FF&E - basement of 1280 sf is currently being used for storage.
Zoning Description: CA
Lot Frontage: 242
Lot Depth: 199'
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,379 11,891 55,151
Median Age: 45.89 42.34 38.56
Households: 612 5,035 23,408


Photograph of Listing Agent

Chiara Petro

eXp Realty, LLC ETNRCRE Member
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