Restaurant Opportunity
Retail-Commercial
for Sale
| Catylist Listing ID: |
30847510 |
| Property Subtypes: |
Convenience Store, Free-Standing Building, Restaurant, Street Retail, Vehicle Related, Other
|
| Building Size (RSF): |
462 SF
|
| Gross Building Area: |
See Agent |
| Gross Land Area: |
0.37 Acres
|
| Sale Price: |
$230,000 |
| Unit Price: |
$497.84 PSF |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Vacant/Owner-User, Business |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
11/22/2023 |
Overview / Comments
Realty Executives is pleased to exclusively present a purchase opportunity for a former restaurant space in the growing Magnolia Corridor. With ample parking and great street visibility, this property offers a great opportunity for someone to continue the use. It’s vicinity to Chilhowee Park, Zoo Knoxville, and the Muse place it on one of the most desirable intersections of Magnolia. The property is in an opportunity zone so buyers would benefit from researching the business incentives exclusively available to the area. Additional Income could be made by charging for parking in one of the 24 parking spaces during events at Chilhowee.
• Equipped with a Hood vent and grease interceptor.
• Located near several bus stops so customers or employees can easily get to the property.
• Former Restaurant had a loyal customer base.
|
Additional Details
| Nearest MSA: |
Knoxville |
| County: |
Knox |
| Taxing Authority: |
Knoxville |
| Tax ID/APN: |
082CD01401 |
| Zoning: |
CG-2 |
| Property Located Between: |
Perk City Coffee & Value Inn |
| Property Visibility: |
Excellent |
| Largest Nearby Street: |
Magnolia Ave |
| Feet of Frontage: |
100 |
| Traffic/Vehicle Count: |
11,000 |
| Tenancy: |
Single Tenant |
| Total Number of Buildings: |
1 |
| Number of Stories: |
1 |
| Year Built: |
1955 |
| Year Renovated: |
2006 |
| Roof Type: |
Flat |
| Total Parking Spaces: |
24 |
| Parking Type: |
Surface |
| Sprinklers: |
None |
| Zoning Description: |
The C-G District is intended to promote mixed-use development in a pedestrian-oriented environment that recalls the City's traditional business districts, and offers flexibility in the creation of integrated commercial, office and residential spaces. The C-G District is divided into three levels of intensity related to the overall form and design of the development; however, uses are the same across all levels. This zone is intended primarily for indoor commercial uses with limited exceptions per special use approval. |
| Lot Frontage: |
100 |
| Lot Depth: |
160 |
| Water Service: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
8,275 |
64,717 |
138,666 |
| Median Age: |
39.17 |
35.44 |
35.28 |
| Households: |
3,590 |
26,835 |
58,030 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither East Tennessee Realtors nor
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