Burlin Allen 865-621-1776

115 Epley ROAD, Newport, TN 37821$1,150,000

Contact Burlin Allen About MLS#: 701164 Phone: 865-621-1776 / Email: burlin@burlinallen.com
Property Type: Commercial Sale Baths: 2 Lot Size (sq. ft.): 38,768 Status: Active
Current Price: $1,150,000 List Date: 9/06/2023 Last Modified: 11/20/2023

Description

Incredible opportunity to purchase or lease existing fully updated and upgraded vacant retail building in great condition which was previously used as a restaurant on a Walmarts/Lowes outparcel in a highly trafficked neighborhood center located at the Interstate 40/Hwy 321 off-ramp junction at Newport TN. Alternatively, if you are looking for a vacant outparcel pad site in an ideal traffic location for a long term ground lease (50+ years)... seller is prepared to clear site for new build. What makes this property unique is the high visibility from Hwy 321 and main Newport Town Center Avenue as well as the very good condition of the existing structure which includes a huge dining and customer service area with stand-alone central gas stone fire-place, large kitchen/food prep areas, cool rooms and servicing by all of the major utilities as well as an existing mechanical ventilation system, exhaust hoods and duct work. The dedicated parking lot for over 40 vehicles has also been recently re-surfaced and includes a drive-thru lane and window. While there is already substantial tourist traffic at this highway junction, as it is used as a primary entry point into the Great Smoky Mountains National Park which boasts over 14 million tourists visiting each year, it is understood that the local county together with the Tennessee State government are working together in extending Hwy 321 as a 4-lane major thoroughfare towards Gatlinburg. This will greatly increase the already substantial traffic flow with the benefit that this property is highly visible and has direct access from the in-bound side of the traffic, just off the interstate exit, as the vehicles travel towards the National Park. With all of the future expansion planned, which will greatly increase the already high traffic flow to to this neighborhood center, it is now the ideal time for a retail/restaurant operator to purchase this property to establish a projected high income endeavor or for a commercial property investor to add this property to their portfolio and optimize on providing a long term lease to a third party retail tenant. NOTE: Seller financing is an option. Contact listing broker for info

More Information MLS# 701164

Contract Information

Current Price: $1,150,000 OriginalListPrice: 1200000 Listing Price: 1150000 Status: Active Listing Date: 2023-09-06 Property Sub-Type: Retail Listing Agreement: Exclusive Right To Sell Sub Agency Compensation Type: Other Transaction Broker Compensation Type: Other Owner Name: Epley Road LLC Availability Date: 2023-09-06

Location Tax and Legal

House #: 115 Street Name: Epley St Suffix: ROAD Area: Cocke State/Province: TN Zip Code: 37821 Geo Lat: 35.938868 Geo Lon: -83.21282

General Property Information

BathsTotal: 2 Year Built: 2007 Year Built Details: Refurbished/upgraded in 2023 Parking Total: 44 Lot Size Acres: 0.89 Lot Size Dimensions: 311x152x250x200 Cooling YN: Yes Heating YN: Yes Stories Total: 1 Stories: 1 Lease Considered YN: Yes Leasable Area: 3487

Remarks and Miscellaneous

Public Remarks: Incredible opportunity to purchase or lease existing fully updated and upgraded vacant retail building in great condition which was previously used as a restaurant on a Walmarts/Lowes outparcel in a highly trafficked neighborhood center located at the Interstate 40/Hwy 321 off-ramp junction at Newport TN. Alternatively, if you are looking for a vacant outparcel pad site in an ideal traffic location for a long term ground lease (50+ years)... seller is prepared to clear site for new build. What makes this property unique is the high visibility from Hwy 321 and main Newport Town Center Avenue as well as the very good condition of the existing structure which includes a huge dining and customer service area with stand-alone central gas stone fire-place, large kitchen/food prep areas, cool rooms and servicing by all of the major utilities as well as an existing mechanical ventilation system, exhaust hoods and duct work. The dedicated parking lot for over 40 vehicles has also been recently re-surfaced and includes a drive-thru lane and window. While there is already substantial tourist traffic at this highway junction, as it is used as a primary entry point into the Great Smoky Mountains National Park which boasts over 14 million tourists visiting each year, it is understood that the local county together with the Tennessee State government are working together in extending Hwy 321 as a 4-lane major thoroughfare towards Gatlinburg. This will greatly increase the already substantial traffic flow with the benefit that this property is highly visible and has direct access from the in-bound side of the traffic, just off the interstate exit, as the vehicles travel towards the National Park. With all of the future expansion planned, which will greatly increase the already high traffic flow to to this neighborhood center, it is now the ideal time for a retail/restaurant operator to purchase this property to establish a projected high income endeavor or for a commercial property investor to add this property to their portfolio and optimize on providing a long term lease to a third party retail tenant. NOTE: Seller financing is an option. Contact listing broker for info

Status Change Information

Major Change Timestamp: 2023-11-06T15:35:04Z Major Change Type: Price Reduced Price Change Timestamp: 2023-11-06T15:35:04Z Status Change Timestamp: 2023-09-06

Building or Suite #1

Total SqFt: 3487 Building Age: 16

Deed Book Details

Deed Book: 1610 Deed Page: 845

Lock Box Information

Lock Box Location: Entry door

Showing Requirements

Showing Instructions: Call showing time to organize showings and get access information 800-746-9464

Property Features

Business Type: Bakery; Bar/Tavern/Lounge; Commercial; Computer; Fast Food; Franchise; Gift Shop; Health Food; Hospitality; Liquor Store; Medical; Music; Office Supply; Pet Store; Pizza; Professional Service; Retail; Toys; Variety Construction Materials: Frame; Stone; Stone Veneer; Wood Frame; Wood Siding Cooling: Central Air; Multi Units Electric: 220 Volts in Kitchen; 3 Phase; Circuit Breakers Heating: Central; Fireplace(s); Natural Gas Listing Terms: 1031 Exchange; Cash; Conventional; Lease Option; Private Financing Available Loading: Delivery Door; Ground Level Door Lock Box Information: Combo Lot Features: Cleared; Corner Lot; Landscaped; Level; Paved; Rectangular Lot Parking Features: Additional Parking; Asphalt; Deeded; Drive Through; Lighted; On Site; Parking Lot Possession: Close Of Escrow Road Frontage Type: City Street; Other Roof: Metal Security Features: Building Security; Fire Sprinkler System; Security System; Smoke Detector(s) Sewer: Public Sewer Showing Contact Type: Agent Tenant Pays: Taxes; Trash Collection Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Water Source: Public Showing Requirements: Appointment Only; Combination Lock Box; Security System; Show Anytime; Showing Service
Listing Office: 10 Realty, LLC
Last Updated: November - 20 - 2023
115 Epley ROAD, Newport, TN 37821- MLS# 701164
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

Information deemed reliable but not guaranteed.