For Sale
$625,000

501 Walnut StJohnson City, TN 37604

Historic Restaurant, 3652 SF, 29 Parking Spaces

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional 3,652 square foot restaurant space, located at 501 W Walnut St, Johnson City, TN 37604, presents a unique investment opportunity. Situated on a 0.24-acre lot in the heart of the W. Walnut Street Redevelopment Corridor, this property boasts a prime location directly across from the recently remodeled Model Mill. Built in 1920, this single-story, Class C building features a spacious interior, complemented by a 2,083 square foot patio ideal for outdoor events. The property includes 29 parking spaces and a 20' x 82' floored attic offering ample storage. Recent upgrades include new double-hung insulated windows on the front, new wiring, new sheetrock, and updated his and her bathrooms. All utility hook-ups have been modernized as part of the city's redevelopment improvements. The property is vacant and ready for immediate occupancy. This fee-simple ownership opportunity is further enhanced by its location within a Tax Increment Financing District, offering significant growth potential. The APN is 054C H 032.00 and the permitted zoning is WWD. This is a rare chance to acquire a well-positioned, historic building with significant upside in a thriving downtown area. The building is vacant and readily available for viewing.

Highlights

  • Prime W. Walnut Street location within the Redevelopment District.
  • Corner lot across from The Model Mill, benefiting from recent street improvements.
  • 2,000+ sq. ft. patio ideal for outdoor events.
  • Solid block building with usable attic storage.
  • High growth potential.

Property Details for 501 Walnut St

Property type
Retail properties, Restaurants
Square Feet
3,652 SF
Class
C
Year Built
1920
Buildings
1
Stories
1
Lot Size (sq. ft)
10,454 SF

Location Insight

City
Johnson City
County
Washington
State
Tennessee
Latitude
36.3110275
Longitude
-82.3554032
501 Walnut St, Johnson City, Tennessee

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501 Walnut St
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