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555 Morrell Springs Rd

Newport, TN 37821
  • $399,000
  • STATUS: Active
  • ON SITE: 689 days
  • ID#: 1094518
UPDATED: 35 min ago
$399,000
  • 0
    BEDS
  • 0.82
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,274
    SQFT
  • $122
    $/SQFT
Neighborhood:
Type:
Commercial
County:
Area:

School Ratings & Info

Description

This family owned restaurant brings back a lot of memories and it istime the remaining family sold. The Grease Rack was established in 1972 and offers a complete operating full service restaurant business along with the real estate. Main bldg. offers 3200 sq ft that offers 4 dining rooms, 4 baths and a full service bar. Kitchen is furnished with all the necessary equipment to carry on with along with 35K worth of Capital Improvements to include a brand new 12x8 walk in cooler, 8x6 walk in freezer and large dry storage area off the kitchen prep area. Recently the owners added an outside seating area along Earl's Creek with its own rest rooms for those larger gathering events of just sit and relax next to the creek and watch a ballgame.Seating capacity of main bldg. is 110 and outside seating area has ability to accommodate 50 or more. The family for years operated Wed thru Sat 4:30 to 9:00 pm and opened for special occasions. There is tremendous growth potential to expand hrs and days if this is your goal. The 1300 sq ft 3br, 1ba home next to business is also available for either living or expanding business as well. This sale includes business, equipment and furnishings. This is turn key will many abilities to expand. Appointment only. For additional viewing please use the following links: https://www.youtube.com/watch?v=BZlblt7oK4w&authuser=0 https://youtu.be/5fV5DYUsBRA

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© 2021 Knoxville Area Association of REALTORS®, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings displayed may not belong to Catrina Foster Group I Keller Williams Realty. Information is deemed reliable but is not guaranteed accurate by the MLS or Catrina Foster Group I Keller Williams Realty. Data last updated: 2021-08-03T06:48:13.667.
www.catrinafostergroup.com/homes/98940225
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555 Morrell Springs Rd Newport, TN 37821

  • Price: $399,000
  • Status: Active
  • Updated: 35 min ago
  • ID#: 1094518
0
Beds
0
Baths
0
½ Baths
0.82
Acres
3,274
SQFT
$122
$/SQFT
Neighborhood:
Newport
County:
Cocke
Area:
Newport
Property Description
This family owned restaurant brings back a lot of memories and it istime the remaining family sold. The Grease Rack was established in 1972 and offers a complete operating full service restaurant business along with the real estate. Main bldg. offers 3200 sq ft that offers 4 dining rooms, 4 baths and a full service bar. Kitchen is furnished with all the necessary equipment to carry on with along with 35K worth of Capital Improvements to include a brand new 12x8 walk in cooler, 8x6 walk in freezer and large dry storage area off the kitchen prep area. Recently the owners added an outside seating area along Earl's Creek with its own rest rooms for those larger gathering events of just sit and relax next to the creek and watch a ballgame.Seating capacity of main bldg. is 110 and outside seating area has ability to accommodate 50 or more. The family for years operated Wed thru Sat 4:30 to 9:00 pm and opened for special occasions. There is tremendous growth potential to expand hrs and days if this is your goal. The 1300 sq ft 3br, 1ba home next to business is also available for either living or expanding business as well. This sale includes business, equipment and furnishings. This is turn key will many abilities to expand. Appointment only. For additional viewing please use the following links: https://www.youtube.com/watch?v=BZlblt7oK4w&authuser=0 https://youtu.be/5fV5DYUsBRA
Exterior Features

Construction Concrete Block Location Central Busns AreaInside City Lot Size 280X130x325x230 Parking Spaces 25.00 Road Access Public Road Siding Other

Interior Features

Cooling Central Cooling Equipment Fire AlarmFixtures/FurnitureMachinery IncludedOtherSecurity SystemSprinkler System Fuel ElectricGas (Natural) Heat Central

Property Features

Additional Info Other Auction YN No Building Business Type Bar/Tavern/LoungeBldgTrdeSpls & SvcBusiness ServiceChurchDentalDistributingFood ServiceFranchiseMedicalProfessional ServiceProfessional/OfficeRetailWholesale City County Code City Limits Commercial Type Commercial Condition Good Docson File Survey Easements Other Expenses Included Other Gross Annual Income 500000.00 Lot Pt 50 Miscellaneous 220 Volt PowerDsl AvailableInternet AvailableLiving Space AvailRest RoomsWired For Internet New Financing CashConventional Property Status N/A Pud YN No Restrictions Yes Sale Lease Includes Fee Simple Sq Ft Source Tax Records Total Tax 3139.00 Utilitieson Site ElectricNatural GasPublic WaterSewerTelephone Zoning Comm

Listing information © 2021 Knoxville Area Association of REALTORS®, Inc.
Listing provided courtesy of Re/Max Between The Lakes.


© 2021 Knoxville Area Association of REALTORS®, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings displayed may not belong to Catrina Foster Group I Keller Williams Realty. Information is deemed reliable but is not guaranteed accurate by the MLS or Catrina Foster Group I Keller Williams Realty. Data last updated: 2021-08-03T06:48:13.667.
 
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Catrina Foster Group I Keller Williams Realty
730 US HWY 321 N., Ste 108
Lenoir City TN, 37774