Current Use by Public Records
- Retail properties & Spaces
Property Details for 2318 Tn-160
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a 9,026 square foot grocery store located at 2318 TN-160 in Newport, Tennessee (zip code 37821). The property boasts a single-story building on a 1-acre lot (APN 014076.01) and is offered at an asking price of $1,160,000, representing a price per square foot of $128.52. The property features a 15-year absolute Net Lease (NNN) with approximately 8 years remaining on the term. The tenant is responsible for all property expenses, providing a truly passive income stream. The property generates a strong Net Operating Income (NOI) of $86,340, resulting in an attractive 7.44% capitalization rate. This is a hassle-free investment opportunity with a high-credit tenant and minimal competition in the immediate area. The property is situated in Cocke County, Tennessee. This is an ideal investment for those seeking a low-maintenance, high-return investment in a stable retail sector.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Newport
- County
- Cocke
- State
- Tennessee
- Longitude
- -83.1667
- Latitude
- 36.0814
