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Listed by Justin Johnson • Go Realty, LLC
$264,900
Est. payment /mo
5,250 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 5,250 sqft
Price per Sqft $50
MLS Listing ID 3180111
Year Built 1997
Lot Size 2.000 Acres
Acres 2.0
Property Sub-Type Retail
Property Description
Unlock the potential of this 6-unit retail property in Elora, offering a prime value-add investment opportunity with multiple income streams and significant upside.
The property features 6 total units, with 2 currently leased at $500/month each on month-to-month terms, providing immediate income while allowing flexibility to increase rents or reposition tenants. With pro forma rents, the property has the potential to generate $3,000+ per month once stabilized.
In addition to the retail spaces and one has cafe or restaurant potential, the property includes multiple storage containers, and a dedicated parking lot, creating additional revenue opportunities and enhancing overall cash flow potential.
Recent electrical updates have already been completed, reducing upfront improvement costs and adding to the property's long-term value.
Whether you're an investor looking to reposition and maximize rents or seeking a multi-use commercial asset with strong upside, this property offers a compelling opportunity in a growing rural market.
Bring your vision and capitalize on the potential—opportunities like this don't last long.
The property features 6 total units, with 2 currently leased at $500/month each on month-to-month terms, providing immediate income while allowing flexibility to increase rents or reposition tenants. With pro forma rents, the property has the potential to generate $3,000+ per month once stabilized.
In addition to the retail spaces and one has cafe or restaurant potential, the property includes multiple storage containers, and a dedicated parking lot, creating additional revenue opportunities and enhancing overall cash flow potential.
Recent electrical updates have already been completed, reducing upfront improvement costs and adding to the property's long-term value.
Whether you're an investor looking to reposition and maximize rents or seeking a multi-use commercial asset with strong upside, this property offers a compelling opportunity in a growing rural market.
Bring your vision and capitalize on the potential—opportunities like this don't last long.
Location
State TN
County Lincoln County
Zoning Commercial
Interior
Fireplace N
Others
Special Listing Condition Standard
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George Scott
Agent | License ID: TN License #: 377474
Agent License ID: TN License #: 377474
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