555 Morrell Springs Rd

    Newport, TN 37821
    • $424,900
    • STATUS: Active
    • ON SITE: 59 days
    • ID#: 1094518
    $424,900
    • 0
      BEDS
    • 0.82
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,274
      SQFT
    • $130
      $/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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    © 2019 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 Realty Executives Associates. Information is deemed reliable but is not guaranteed accurate by the MLS or Realty Executives Associates. Data last updated: 2019-11-11T23:51:15.43.
    www.angiewallace.com/homes/98940225

    555 Morrell Springs Rd Newport, TN 37821

    • Price: $424,900
    • Status: Active
    • ID#: 1094518
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.82
    Acres
    3,274
    SQFT
    $130
    $/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 © 2019 Knoxville Area Association of REALTORS®, Inc.
    Listing provided courtesy of Re/Max Between The Lakes.


    © 2019 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 Realty Executives Associates. Information is deemed reliable but is not guaranteed accurate by the MLS or Realty Executives Associates. Data last updated: 2019-11-11T23:51:15.43.
     
    Realty Executives Associates
    10255 Kingston Pike
    Knoxville TN, 37922