$194,900

516 Broad Street #3

Elizabethton TN, 37643

Description

Well established commercial property on Broad Street, one of the most heavily traveled commercial arteries in the City of Elizabethton. Same location as McDonalds, Wendys, Hardees, Walgreens, Citizens Bank, Family Dollar Store and many other high end commercial establishments. With a location like this, the commercial exposure within the City is unparalleled. Well maintained two story brick building, with the main level consisting of 1,730 square foot of prime commercial space, currently utilized as a large accountant's office. The upper level consists of an additional 1,530 square feet of area comprised by two separate apartment units, each featuring two bedrooms and one bath with individual laundry facilities. The commercial space was originally designed and utilized as two separate business offices and could easily convert back to that, or can continue on as one large business space. Current commercial tenant is on a month to month basis, allowing buyers the opportunity of negotiating a new lease or utilizing the space for their own commercial use. The commercial space has central heating and air conditioning with each of the two apartments offering individual heating and cooling systems as well. Current income for the building is $750 per month for the commercial space, $495 for one of the apartments, and $395 for the other apartment because it is currently rented below market rent to friends of the owner. 540 square foot concrete basement. Both apartments are also rented on a a month to month basis. Large paved parking lot with ample parking. This is an excellent income producing property that has been well maintained by the long term owner and is in a prime location. An ideal property for investors or for those who want to locate their own building and reap the benefits of the income produced by the two upstairs apartment units. All info. taken from Tax Records. Buyer/Buyer's Agent to verify all.

Details

MLS#426476
Listing TypeFor Sale
StyleRetail
Sub-TypeResale
StatusActive
Year1954
Days On Site177

Features

SQ Feet6,840
Story(s)2
ZoningB2

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Area Information

StateTN
CountyCarter
CityElizabethton
Zip Code37643
Area317 - City of Elizabethton
Listing VS Median (in 37643)
Price:
$194,900
low | high
Med:
$132,400
82.067727039507% of Average
SqFt:
6,840
low | high
Med:
1,748
100% of Average
$ / SqFt:
$28
low | high
Med:
$76
100% of Average
On Site:
177
low | high
Med:
23
100% of Average
Listing Updated: 02/20/2020
MLS Number: 426476
Listing Provided By:
DAVID COLLINS  of  RUSS SWANAY REAL ESTATE COMPAN

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