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    2747 Andrew Johnson Hwy Morristown, TN 37814

    For Sale
    $350,000

    Prime location, 8,849 SF building, 0.51 acres.

    Property size:
    8,849 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional commercial property, located at 2747 W Andrew Johnson Highway in Morristown, Tennessee, presents a unique investment opportunity. The 8,849 square foot building sits on a 0.51-acre lot and is ideally suited for a quick-service restaurant (QSR), fast food establishment, or other commercial ventures. Priced at $350,000 ($67.80 per square foot), this property boasts excellent visibility and accessibility, situated between downtown Morristown and the Cherokee Crossing intersection of Merchants Greene Boulevard and US Highway 11-E. High traffic counts and a growing market, fueled by the recent addition of numerous worldwide manufacturers and national retailers, make this a highly desirable location. The property benefits from its proximity to major retailers including Lowe's, Walmart Supercenter, Food City, Texas Roadhouse, and Chili's. Furthermore, its location near the newly constructed (2021) $37,000,000 Covenant Health Care outpatient facility (50,000 square feet), which includes a free-standing emergency department, diagnostics center, and physician center, ensures a strong and expanding customer base. This property offers significant potential for immediate return on investment and long-term growth in a thriving commercial area. The zip code is 37814.

    Property Features for 2747 Andrew Johnson Hwy

    General Information

    Property type
    Restaurants
    Square Feet
    8,849 SF
    Lot Size
    22,216 SF

    HighLights

    • Prime location on W Andrew Johnson Hwy, Morristown, TN.
    • Strategically positioned between downtown Morristown and the Cherokee Crossing (Merchants Greene Blvd & US Hwy 11E).
    • 0.51‑acre lot with an 8,849 SF building.
    • High traffic counts and excellent accessibility.
    • Strong growth fueled by new manufacturers and national retailers.
    • Close proximity to Lowe's, Walmart, Food City, Texas Roadhouse, Chili's, and Covenant Health's new $37 million, 50,000 SF outpatient facility (2021).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Boots & Bows Boutique Boutique Shear Structure Hair ... Beauty Salon

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Hamblen
    State
    Tennessee
    Longitude
    -83.3318677
    Latitude
    36.2016405

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    FAQs

    What type of property is this?
    Restaurant - Prime location, 8,849 SF building, 0.51 acres.
    Where is this restaurant located?
    The property is located at 2747 Andrew Johnson Hwy Morristown, TN.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: Prime location on W Andrew Johnson Hwy, Morristown, TN.; Strategically positioned between downtown Morristown and the Cherokee Crossing (Merchants Greene Blvd & US Hwy 11E).; 0.51-acre lot with an 8,849 SF building.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2747 Andrew Johnson Hwy Morristown, TN 37814
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