415 Elk Ave Elizabethton, TN 37643-2525
- Commercial real estate
- 3,873 SF
- 150.00 lot acres
Current Use by Public Records
- Taco Bell / Fast Food Restaurant
- 7 Brew Coffee / Coffee Shop / Coffee Stand
- Pizza / Restaurant
Property Details for 415 Elk Ave
- Year built
- 2001
- Construction
- WOOD
- Lot size
- 150.00 lot acres
- Property size
- 3,873 SF
- Property type
- Commercial real estate
- APN
- 010041A A 01001
- APU
- 010041AA01001
Description
This exceptional investment opportunity presents a brand-new 7 Brew Coffee franchise located at 415 W Elk Ave, Elizabethton, TN 37643. The property boasts a 15-year absolute NNN lease commencing November 1, 2024, and expiring October 31, 2039, with a guaranteed franchisee tenant. The 950 square foot building sits on a 1.4-acre lot and includes 48 parking spaces, ensuring ample customer convenience. The property benefits from a 6.40% cap rate and a strong NOI of $100,000, with scheduled 10% rental increases every five years. The lease includes four 5-year renewal options, providing long-term stability and predictable income growth. The property is zoned HC - Highway Commercial and is situated in a high-traffic retail corridor, benefiting from proximity to major shopping centers like Elk Crossing (127,000 SF), West Towne Square (98,000 SF), and Carter County Plaza (126,000 SF). This leased fee ownership (ground lease) offers zero landlord responsibilities, making it an ideal passive income investment. The property's strong demographics within a 5-mile radius further enhance its investment appeal. The APN is 010041A A 01001. This is a 100% occupied, turn-key investment ready for immediate cash flow. Year built is 2024.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,045,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,025,000
- 6.5%
- $1,070,000
- 7%
- $1,035,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $895,000
- Geo Method
- $880,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $845,000
- Retail
- $865,000
- Mixed-Use
- $880,000
- Hospitality
- $1,055,000
- Educational
- $875,000
- Residential Income
- $875,000
- Energy
- $970,000
- Income-Based Land
- $905,000
- Food Service
- $1,100,000
Location Insight
- Map
- Local Demand
- City
- Elizabethton
- County
- Carter
- State
- Tennessee
- Longitude
- -82.2323
- Latitude
- 36.3521
- CBSA code
- 27740
- CBSA name
- JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA
