Catylist ID:
#30852560
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 |
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 |
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