369 Elk Ave Elizabethton, TN 37643-2613

Property Details for 369 Elk Ave

Year built

2019

Lot size

91.00 lot acres

Property size

1,500 SF

Property type

Office Properties & Spaces

APN

010041B K 02900

APU

010041BK02900

Description

This exceptional investment opportunity presents a 1,500 square foot, single-tenant storefront located at 369 W Elk Ave, Elizabethton, TN 37643. The property, built in 2018, boasts a Class B rating and sits on a 0.36-acre lot with Commercial zoning. Currently occupied by Advance Financial, a well-established financial services company with over 100 locations in Tennessee, this property offers an absolute NNN lease with zero landlord responsibilities. The 11-year lease includes a corporate guarantee and features 2% annual rent bumps, ensuring consistent income growth. The property generates a substantial net operating income (NOI) of $124,674, resulting in a compelling 6.50% cap rate. The asking price is $1,918,061, translating to $1,278.71 per square foot. The lease has two 5-year renewal options, providing long-term stability and predictable cash flow. This highly visible location benefits from a high volume of daily traffic (35,000+), making it an attractive investment for discerning buyers. The property is offered as a single unit investment, but may also be available as part of a larger portfolio. This is a rare opportunity to acquire a secure, high-performing retail investment in a strong, growing market. The tenant's financial strength and the lease terms combine to create a low-risk, high-reward investment prospect.

Location Insight

City

Elizabethton

County

Carter

State

Tennessee

Longitude

-82.2312

Latitude

36.3519

CBSA code

27740

CBSA name

JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments