Cumbow Property

Retail-Commercial for Sale
Catylist Listing ID: 28878930
Property Subtypes: Car Wash, Convenience Store, Garden Center, Mixed Use, Retail-Pad, Other
Building Size (RSF): 2,500 SF
Gross Land Area: 1.72 Acres
Sale Price: $170,000
Unit Price: $68 PSF
Property Use Type: Investment, Business
Building Name: Cumbow Property
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 9/18/2017

Overview / Comments

Investment possibilities abound on this Lee Highway property, not only do you have +/- 80 feet of road frontage you have +/- 650 feet of depth which ends at the edge of I-81. So, great visibility is a hallmark of this property from both ends of the property. Currently, the property is Leased to a third party, however the Lease does provide for flexibility should the new Owner wish to change direction in the current type of investment. Being located on both thoroughfares provides lots of opportunities for multiple uses and types of development. The two buildings attached to the property provide nearly 3,000 sq feet of indoor space for storage or warehousing. The property slopes slightly and has been mostly cleared to I-81. For more information or a tour, please contact the listing agent. All Offers will be reviewed by the Owner.

Additional Details

Nearest MSA: Kingsport-Bristol-Bristol
County: Washington
Taxing Authority: Washington County, Virginina
Tax ID/APN: 143A3 A 33
Zoning: A-2
Market Type: Small
Retail Clientele: General, Business, Other
Property Located Between: Exit 10 & Exit 13 I-81
Side of Street: South
Road Type: Paved, Highway
Property Visibility: Excellent
Largest Nearby Street: Lee Highway
Traffic/Vehicle Count: 8,500
Transportation: Bus, Highway, Airport
Highway Access: Property fronts on Lee Highway (Rt. 19)
Site Description: Good street access, with an extremely deep lot which reaches to I-81 right of way. Property is nearly level in the front and is slightly sloping in the rear.
Area Description: The property is less than 1,000 feet to the access of I-81 at Exit 10, Bristol, Virginia. The current area is made up of smaller individually owned entrepreneurs which maintain commercial endeavors.
Tenancy: Single Tenant
Total Number of Buildings: 2
Number of Stories: 1
Typical SF / Floor: 1,250 SF
Property Condition: Fair
Year Built: 1980
Roof Type: Gable
Construction/Siding: Metal Siding
Exterior Description: Building have drive in doors and man doors for access. Several have been changed and updated. Buildings are in need of some repair.
Parking Type: Surface
Parking Description: Property currently being used is graveled, while remaining portion has been cleared and is in grass.
Heat Type: Space Heaters
Heat Source: Radiant
Internet Access: Cable, DSL, Satellite
Interior Description: Buildings are currently being used for storage and are in need of updating.
Zoning Description: A-2, county has the property currently in agricultural zoning, most of the surrounding property is B-2. With the Sale of the property, this site will likely be changed to B-2.
Lot Frontage: +/- 80'
Lot Depth: +/-650'
Easements: Utilities
Easements Description: Normal easements for utilities; water and electric.
Land Ownership: Fee Simple
Legal Description: Will be provided to interested Prospects.

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 9,823 33,008
Median Age: 44.27 42.65
Households: 4,196 13,958
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