$2,200,000
Elizabethton, TN 37643
MLS# 9959078
15700 sqft
1 / 52
Property Description
Unique offering in the quaint Downtown area of Elizabethton, Tennessee. Four completely remodeled buildings on Elk Ave (the main street through Downtown Elizabethton) are being offered for sale as a portfolio. All buildings are currently leased. Tenants include an attorney, The Chamber of Commerce, Salon and Photography studio, and electrical contractor and a long standing pizza and sandwich shop Jiggy Ray's. There are good leases in place and great tenants. Each property has been completely renovated and updated with new electrical, plumbing and HVAC systems within the last 3 years. One building is sprinkled. There is 15,700 square feet total and all of the buildings are located within a few steps of the iconic covered bridge in Elizabethton spanning the Doe River. Car shows, festivals, parades and many other events are held on Elk Ave on a regular basis. There is a white water rafting park being considered on the Watauga River just a few hundred yards from where the Doe River spills into the Watauga River. There is an enormous amount of growth in this area, development and tourism are growing and there is a great opportunity to be in a prime location as things develop. World class fishing is at your doorstep, lakes and rivers abound, the Appalachian Trail is only about 7 miles away. Only minutes to NC or VA with any outdoor activity you could ask for right in your backyard!! Rent rolls, leases, financial documentation and viewing of the properties will be provided once the buyer has provided proof of funds.
Details
Maps
Location, Tax & Legal Info
Street #: 524
St Direction: East
Street Name: Elk
St Suffix: Avenue
County: Carter
State/Province: TN
Zip Code: 37643
Area: 317 - City of Elizabethton
Lot #: 0009
Block: 0024
Deed Book #: 332
Deed Page #: 248
Parcel ID: 041f C 029.00
City Taxes: 2160
County Taxes: 2940
Contract Info
Status: Active
Listing Price: 2200000
Current Price: $2,200,000
List Price/SqFt: 140.13
Listing Date: 2023-11-08
Buyer Broker: Yes
Buyer Broker Comm: 3
Buyer Broker Comm Type: %
Foreclosure: No
Short Sale: No
Auction: No
General Property Description
Lease: Yes
Lot Size: 50x75
Acres: 0.36
Zoning: B1
Year Built: 1925
Stories: 2
Total SqFt: 15700
Total SqFt Finished: 15700
HOA Y/N: No
Annual Lease $: 110076
Remarks & Misc
Public Remarks: Unique offering in the quaint Downtown area of Elizabethton, Tennessee. Four completely remodeled buildings on Elk Ave (the main street through Downtown Elizabethton) are being offered for sale as a portfolio. All buildings are currently leased. Tenants include an attorney, The Chamber of Commerce, Salon and Photography studio, and electrical contractor and a long standing pizza and sandwich shop Jiggy Ray's. There are good leases in place and great tenants. Each property has been completely renovated and updated with new electrical, plumbing and HVAC systems within the last 3 years. One building is sprinkled. There is 15,700 square feet total and all of the buildings are located within a few steps of the iconic covered bridge in Elizabethton spanning the Doe River. Car shows, festivals, parades and many other events are held on Elk Ave on a regular basis. There is a white water rafting park being considered on the Watauga River just a few hundred yards from where the Doe River spills into the Watauga River. There is an enormous amount of growth in this area, development and tourism are growing and there is a great opportunity to be in a prime location as things develop. World class fishing is at your doorstep, lakes and rivers abound, the Appalachian Trail is only about 7 miles away. Only minutes to NC or VA with any outdoor activity you could ask for right in your backyard!! Rent rolls, leases, financial documentation and viewing of the properties will be provided once the buyer has provided proof of funds.
Directions: Properties in the 500 and 600 block of Elk Avenue on either side of the street. Make it to the river and you just passed them!
Property Features
Property Condition: Above Average
Business Type: Barber/Beauty; Office/Showroom; Professional/Office; Retail
Exterior Finish: Brick
Other Equipment: Cable TV; Display Window; Fire Sprinkler System; Handicap Access
Roof: Rubber
Electric Service: 220 Volts
Development Status: Finished Lot(s)
Heating: Heat Pump
AC: Central Air; Heat Pump
Water: Public
Sewer: Public Sewer
Road Access: City Street
Info Available: Aerial; Leases; Plat; Profit/Loss Statement; Rental Roles
Restrictions: See Remarks
Easements: None
Financing: Cash; Conventional; Indiv/Seller Financing
Showing Instructions: Showing Service
Existing Finance: Conventional
Sale Includes: Fee Simple
Listing Office: Coldwell Banker Security Real Estate
Last Updated: March - 05 - 2024
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.