PRICE REDUCTION | 146 E Broadway
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PRICE REDUCTION 146 E Broadway
6,500 SF Retail Building Newport, TN 37821 $460,000 ($71/SF)
Executive Summary
DRASTICALLY REDUCED FROM ORIGINALLY $610K TO $460K. THIS PROPERTY IS ON THE BROADWAY STREET IN
NEWPORT. IT IS A PERFECT LOCATION FOR A RESTAURANT OR A RETAIL SHOP. THE SELLERS ARE HIGHLY MOTIVATED,
HENCE THE NEW PRICE OF $460K. THE TRAFFIC ON THIS ROAD IS CONTINUOUS AND NEWPORT IS A CITY THAT IS
GROWING AND OLD BUILDINGS ARE BEING RENOVATED. THIS PROPERTY HAS A NEW ROOF, NEW ELECTRICAL, NEW
PLUMBING, & HVAC RE-WORKED. THIS PROPERTY IS BRILLIANT FOR BUSINESS!
A NOTE ON REAL ESTATE. IT IS NOT TODAY THAT YOU EVALUATE THE PROPERTY THAT YOU BUY, BUT WHAT IT WILL
BE WORTH IN 10 YEARS!
Commercial building for sale in downtown Newport, Tennessee.(There is also an option to lease this property as well.) The building is 6500 square feet. The downstairs is 3,255 square feet of shop space.
500 square feet of that is storage.
There is a small bathroom and a dressing room.
There is also a freight elevator to the second floor.
The second floor is 3,255 square feet. The area is deemed as storage and office space per the fire marshall. With modification, it could be turned into an apartment and further shop space. The office space includes a large office area, full bathroom, kitchen, and bedroom with a large closet. The desk unit conveys with the property.
All new electrical wiring and plumbing have been installed in late 2022. The HVAC has been updated with new internal ductwork. New Roof installed 2023. Mold and Radon checks were also done. Results were all negative.
The City Council of Newport have begun plans to revitalize downtown Newport.
NEWPORT. IT IS A PERFECT LOCATION FOR A RESTAURANT OR A RETAIL SHOP. THE SELLERS ARE HIGHLY MOTIVATED,
HENCE THE NEW PRICE OF $460K. THE TRAFFIC ON THIS ROAD IS CONTINUOUS AND NEWPORT IS A CITY THAT IS
GROWING AND OLD BUILDINGS ARE BEING RENOVATED. THIS PROPERTY HAS A NEW ROOF, NEW ELECTRICAL, NEW
PLUMBING, & HVAC RE-WORKED. THIS PROPERTY IS BRILLIANT FOR BUSINESS!
A NOTE ON REAL ESTATE. IT IS NOT TODAY THAT YOU EVALUATE THE PROPERTY THAT YOU BUY, BUT WHAT IT WILL
BE WORTH IN 10 YEARS!
Commercial building for sale in downtown Newport, Tennessee.(There is also an option to lease this property as well.) The building is 6500 square feet. The downstairs is 3,255 square feet of shop space.
500 square feet of that is storage.
There is a small bathroom and a dressing room.
There is also a freight elevator to the second floor.
The second floor is 3,255 square feet. The area is deemed as storage and office space per the fire marshall. With modification, it could be turned into an apartment and further shop space. The office space includes a large office area, full bathroom, kitchen, and bedroom with a large closet. The desk unit conveys with the property.
All new electrical wiring and plumbing have been installed in late 2022. The HVAC has been updated with new internal ductwork. New Roof installed 2023. Mold and Radon checks were also done. Results were all negative.
The City Council of Newport have begun plans to revitalize downtown Newport.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
6,500 SF
Building Class
C
Year Built
1920
Price
$460,000
Price Per SF
$71
Tenancy
Single
Building Height
2 Stories
Opportunity Zone
Yes
Zoning
General Commercial - General Commercial currently used as retail.
Parking
0.31 Spaces per 1,000 SF Leased
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 047O-C-011.00 | Improvements Assessment | $36,360 |
| Land Assessment | $10,000 | Total Assessment | $46,360 |
PROPERTY TAXES
Parcel Number
047O-C-011.00
Land Assessment
$10,000
Improvements Assessment
$36,360
Total Assessment
$46,360
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PRICE REDUCTION | 146 E Broadway
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