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    555 Morrell Springs

    Newport, TN 37821
    • $399,000
    • STATUS: Active
    • ON SITE: 579 days
    • ID#: 224712
    $399,000
    • 0
      BEDS
    • 0.82
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,274
      SQFT
    • $122
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1970
    County:
    Area:

    School Ratings & Info

    Listing courtesy of Re/Max Between The Lakes Jeff City.


    Description

    This family owned restaurant brings back a lot of memories and it is time 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 Earls 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 with many abilities to expand. Appointment only. For further viewing, please use the following links: https://www.youtube.com/watch?v=BZlblt7oK4w&authuser=0 https://youtu.be/5fV5DYUsBRA

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    Copyright 2021 Great Smoky Mountains Association of Realtors. Some of the listings on this website are shown by cooperative agreement, and may not be listings of Colonial Real Estate. Information deemed reliable but not guaranteed. Last updated 2021-04-18T00:15:38.47.
    www.smokylistings.com/homes/99007014
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    555 Morrell Springs Newport, TN 37821

    • Price: $399,000
    • Status: Active
    • ID#: 224712
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.82
    Acres
    3,274
    SQFT
    $122
    $/SQFT
    1970
    Built
    Neighborhood:
    Other
    County:
    Cocke
    Area:
    Newport
    Property Description
    This family owned restaurant brings back a lot of memories and it is time 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 Earls 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 with many abilities to expand. Appointment only. For further viewing, please use the following links: https://www.youtube.com/watch?v=BZlblt7oK4w&authuser=0 https://youtu.be/5fV5DYUsBRA
    Exterior Features

    Access City StreetPaved Construction BlockWood Siding Exterior Features Onsite Parking Lot Dimensions 280/130/325/230 Parking 25+

    Interior Features

    Bonus Rooms No Cooling Central Electric Heating Central Interior Features 220 VoltFixturesFurnitureHandicap AccessHandicap RestroomInside StorageReception AreaRestroomsSecurity SystemSprinkler Number Of Bonus Rooms 0 Number Of Rooms 0 Restrooms 5 Stories One

    Property Features

    Annual Tax 3139.00 Commercial Type Fee Simple Improved Common Area Maintenance Per Month 0.00 Current Use Food Service District 06 Gross Rent Amount One 0.00 Gross Rent Amount Two 0.00 Gross Rent One Year 0 Gross Rent Two Year 0 Hoa Fees 0.00 Lease Terms Years 0 Lot Block Unit Pt 50 Monthly Lease Amount 0.00 Owner Financing No Proposed Financing CashConventional Restrictive Covenants Yes Suitable Use Convenience StoreFood ServiceFranchiseMedical/DentalOfficeRetailShopping Center Tax Year 2018 Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected Zoning Comm./Indust. Zoning Entity Other

    Copyright 2021 Great Smoky Mountains Association of Realtors. Information deemed reliable but not guaranteed. Listing provided courtesy of Re/Max Between The Lakes Jeff City | Office Phone: 8654757400 .

    Copyright 2021 Great Smoky Mountains Association of Realtors. Some of the listings on this website are shown by cooperative agreement, and may not be listings of Colonial Real Estate. Information deemed reliable but not guaranteed. Last updated 2021-04-18T00:15:38.47.
     
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    Colonial Real Estate
    3049 Veterans Blvd
    Pigeon Forge TN, 37863
    Listing courtesy of Re/Max Between The Lakes Jeff City.