• 550 1st St NE, Cleveland, TN 37311

For Sale

Retail

For Sale

This property is available for sale
0.96
Acres
$565,000
Sale Price
  • Sale Status
    active
  • Year Built
    1946
  • Overview

    This prime corner lot in downtown Cleveland offers unique opportunities for holding an great site with income in the short-term and redevelopment potential in the long term. The building and location present an excellent site for redevelopment as retail/restaurant, but the current tenant offers income in the meantime.

    Currently, the site is home to Mullinax Automotive's Lincoln sales and automotive service center. It has been and remains a great site for automotive use, but it holds great potential for redevelopment for other uses.

    This property is well-positioned on the corner of 1st Street, Inman Street and Highland Avenue in the center of town, on and near major throughfares, and close to Lee University. It offers great visibility and accessibility from all main streets. The building, constructed in 1946, offers the type of classic industrial brick and block construction with a "stair step" parapet wall, naturally creating the retro aesthetic that retailers, restaurateurs, and offices are looking for.

    This area of Downtown Cleveland, with steady retail-commercial growth, is home to Bald Headed Bistro and Starbucks just across the street, Mash & Hops, Bear Brew Coffee, CBC Cleveland, Catch Bar & Grill, and more just a half-mile away, and the heart of Lee University's Campus just blocks away.

    (Note: Cap rate is estimated. Lease terms available with NDA.)

Contact or Call

Property Details

This prime corner lot in downtown Cleveland offers unique opportunities for holding an great site with income in the short-term and redevelopment potential in the long term. The building and location present an excellent site for redevelopment as retail/restaurant, but the current tenant offers income in the meantime.

Currently, the site is home to Mullinax Automotive's Lincoln sales and automotive service center. It has been and remains a great site for automotive use, but it holds great potential for redevelopment for other uses.

This property is well-positioned on the corner of 1st Street, Inman Street and Highland Avenue in the center of town, on and near major throughfares, and close to Lee University. It offers great visibility and accessibility from all main streets. The building, constructed in 1946, offers the type of classic industrial brick and block construction with a "stair step" parapet wall, naturally creating the retro aesthetic that retailers, restaurateurs, and offices are looking for.

This area of Downtown Cleveland, with steady retail-commercial growth, is home to Bald Headed Bistro and Starbucks just across the street, Mash & Hops, Bear Brew Coffee, CBC Cleveland, Catch Bar & Grill, and more just a half-mile away, and the heart of Lee University's Campus just blocks away.

(Note: Cap rate is estimated. Lease terms available with NDA.)

  • Property Type
    Retail
  • Year Built
    1946
  • Sale Price
    $565,000
  • Total Acres
    0.96
  • Number of Floors
    1
  • Number of Buildings
    1
  • Zoning
    MU-MIXED USE
  • Sale Status
    active
  • Last updated
    Aug 11, 2020
  • Property ID
    2106727

Landlord's Sales Representatives

  • Benjamin Pitts
    Herman Walldorf Commercial, Inc.
     
  • Kate Eischeid
    Herman Walldorf Commercial, Inc.