UPDATED:
Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
Square Footage 9,029 sqft
Price per Sqft $332
MLS Listing ID 709004
Year Built 2000
Annual Tax Amount $6,893
Lot Size 1.680 Acres
Acres 1.68
Lot Dimensions 1.68
Property Sub-Type Business
Source Lakeway Area Association of REALTORS®
Property Description
Discover a rare investment opportunity with this thriving multi-use commercial property, strategically located off 25/70 in Newport, TN, less than a minute from the new Hwy 321 bypass. Boasting 380 feet of highway road frontage and an estimated daily traffic count of over 18,000 vehicles daily in 2024, 19.0% Increase over prior year, as per TDOT web site information. This property offers exceptional visibility and accessibility, drawing steady traffic from surrounding towns.
The property features three fully operational, immaculate businesses, each with a loyal client base and consistent revenue streams, making it a turnkey investment with diverse income potential:
1. Well-Maintained Laundromat: A spacious, high-traffic laundromat offering modern amenities and a strong reputation for cleanliness and reliability.
2. Retail Store: Approximately 1,316 sq. ft. of versatile retail space, ideal for a variety of business ventures, with a prime storefront location to attract passing customers.
3. Large Lawn Mower & Small Engine Repair Shop: A robust 5,252 sq. ft. facility, complete with retail space and a dedicated parts room, catering to a loyal clientele for repair services and equipment sales.
The property also includes a 6-bay car wash with outdoor vacuums, adding to the diverse income streams and appealing to a broad customer base. With two convenient entrances, the layout ensures easy access and ample parking for all businesses.
Situated on two parcels, this property offers flexibility for investors. Purchase options include acquiring the entire business portfolio or opting for a lease-back arrangement on the repair shop, providing customizable investment strategies. Since acquisition, the owners have built a successful operation with a proven track record of profitability and community trust.
Don't miss this unique opportunity to own a multi-faceted commercial property in a high-traffic location of Newport. Just 2.4 miles from downtown Newport, 44 minutes to Knoxville, 30 minutes to Morristown, 34 minutes to Sevierville and just 38 Minutes to Hot Springs, NC.
Location
State TN
County Cocke
Direction From downtown Newport take 25-70W towards I-40, property will be on the left in 2.4 miles.
Interior
Heating Central, Heat Pump, Natural Gas, Separate Meters
Cooling Central Air, Heat Pump
Exterior
Utilities Available Electricity Connected, Natural Gas Connected, Water Connected, Cable Internet
Building
Lot Description Cleared, Irregular Lot, Level
Water Public
Structure Type Asphalt,Block,Brick,Metal Siding
Others
Senior Community No
Tax ID 046 13700 000
Acceptable Financing 1031 Exchange, Cash, Conventional, Lease Back
Listing Terms 1031 Exchange, Cash, Conventional, Lease Back
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Kornerstone Properties
Company Owner | License ID: 265226
Company Owner License ID: 265226