Listing by: Ed Mahaffey, TCI Group - Jerry Petzoldt Agency, LLC, (423) 430-4215

0 Beds

2 Baths

5,500 SqFt

Active

OPPORTUNITY - OPPORTUNITY!! This property is the former Lynn Garden Restaurant and Catering Service. A successful restaurant location for over 77 years. APARTMENT INCLUDED...also attached is a one level apartment that produces $425/m. If you're looking for the perfect location to start or expand a restaurant business....this is it! The property comes with a variety of restaurant equipment already in place and ready to use. Several generations have known and enjoyed the Lynn Garden Restaurant so it comes with a built-in customer base just waiting for the restaurant to re-open. The property will also include an adjacent lot added to accomadate increased customer parking and giving the property 208' of road frontage directly on Lynn Garden Drive. For additional rental income, this property also includes a two bedroom apartment on the upper level with a good rental history.And you can now count on the new Kingsport Lynn Garden revitalization project to update the area and increase the already high average 18,000 vehicles per day that pass by the front door. This restaurant was THE PLACE to eat in Lynn Garden for many years and is embedded in the HISTORY of the Lynn Garden community.According to information provided to the BMA, the Lynn Garden redevelopment district is 118 acres with an appraised value of $24.7 million. Its boundaries include property around the Stone Drive/Lynn Garden Drive intersection, stretching down Tranbarger Drive to Allen and Chadwick and property on both sides of Lynn Garden to the end of Truxton.In fact, city officials said the Lynn Garden redevelopment district will likely be expanded once, maybe twice in 2022.

Property Details
Price$524,999
Total Baths2
Property StyleRestaurant
Lot Size170x95
Lot Size Area170
Acres0.37
Property TypeCommercial
MLS Sub typeRestaurant
Stories2
Year Built1946
RoofMetal,Shingle
HeatingCentral
Parking Description45
Parking Spaces45
Geographic Data
DirectionsFrom West Stone Dr. take Hwy 36 Lynn Garden Dr. for 1.2 miles to restaurant location on the right at 1105 Lynn Garden Dr.
CountySullivan
Latitude36.57523
Longitude-82.566884
Market Area402 - Lynn Garden
Address Information
Address1105 Lynn Garden Drive, Kingsport, Tennessee 37665
Postal Code37665
CityKingsport
StateTennessee
CountryUnited States
Listing Information
Listing OfficeTCI Group - Jerry Petzoldt Agency, LLC
Listing Office Phone(423) 230-0255
Listing Office Emailjerrypetzoldt@gmail.com
Listing AgentEd Mahaffey
Listing Agent Phone(423) 430-4215
Buyer Agency Compensation3.00
Compensation DisclaimerThe offer of compensation is made only to participants of the MLS where the listing is filed.
TermsConventional
MLS® Information
Days on market401
MLS® StatusActive
Listing DateNov 21, 2022
Listing Last ModifiedJan 7, 2024
Tax ID030h D 031.00
MLS® Area402 - Lynn Garden
MLS® #9945964

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