Significant Price Reduction-C-Store Property For Sale

Retail-Commercial for Sale
Sale Pending/Contingent
Catylist Listing ID: 29821348
Property Subtypes: Convenience Store, Free-Standing Building, Garden Center, Street Retail, Tavern/Bar/Nightclub
Status: Pending/Contingent
Building Size (RSF): 1,280 SF
Gross Land Area: 100,000 - 108,000 SF
Sale Price: $125,000
Unit Price: $97.66 PSF
Property Use Type: Vacant/Owner-User
Building Name: Fomerly Unicoi Market & Deli
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 6/23/2017

Overview / Comments

Offered is an opportunity to own a convenience store that can be readied for reopening in very little time. Formerly operated as Unicoi Market & Deli, this location was the original home of Fannon's Famous Hot Dogs. The owners closed due to health and personal reasons creating an opportunity for an astute buyer.

Includes built-in coolers, drink merchandising system, coffee service equipment, ice cream cabinet, hot dog roller grill and accessories, and much more. Does not include uninstalled hood vent system.

As Unicoi Market & Deli, the business sold snacks, deli food, beer, gasoline, and lottery resulting in strong inside sales. Documentation of prior sales is available for review but not reliance; new owner should be able to match or exceed prior performance due to little competition.

Property is suitable for a variety of uses that are non-convenience store. Discount tobacco outlet, small deli operation, car lot, etc. Act now as property is price below land tax appraisal amount.

Note: Photos of property were from time when business was in operation. Currently we are arranging general clean-up of the property and removal of one structure formerly used as a produce stand. Don't let this deter you from looking at this great opportunity.

Additional Details

Nearest MSA: Johnson City
County: Unicoi
Taxing Authority: Unicoi County and Town of Unicoi
Tax ID/APN: 007M C 001.00
Zoning: COMMERCIAL
Market Type: Small
Retail Clientele: General
Property Located Between: Erwin Highway and I-26
Side of Street: West
Road Type: Highway, Highway Interchange
Property Visibility: Good
Largest Nearby Street: Interstate 26
Feet of Frontage: 500
Transportation: Highway
Highway Access: Directly fronts onto Erwin Highway
Site Description: Flat with a portion paved near and around convenience store structure. Fuel island canopy covers fuel islands and walk area into front of the store.
Total Number of Buildings: 2
Number of Stories: 1
Typical SF / Floor: 1,280 SF
Property Condition: Fair
Year Built: 1986
Roof Type: Gable
Construction/Siding: Stucco
Exterior Description: Mixture of concrete block and stucco. Needs new roof and fascia covered with aluminum.
Parking Type: Surface
Heat Type: Electricity
Heat Source: Heat Pump
Air Conditioning: Package Unit
Internet Access: Cable, Satellite
Interior Description: Paneling in below average condition and should be replaced as part of general updating.
Lot Frontage: 500
Lot Depth: 150
Land Ownership: fee simple

Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 3,547 18,906
Median Age: 44.2 42.39
Households: 1,476 8,097

Source

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