6691 Caratoke Highway

Description

This 2.25 acre highway frontage property already has two income sources and the potential for +/- 10k SF of additional retail development. Of that, an approximately 3,300 sf building received preliminary approval. The building pad is ready for construction and includes infrastructure of parking, septic tanks & the septic field. Utilities including water and electricity are available. The water service has already been run and only needs a meter and the supply line run to the building pad. The existing +/- 1,554 SF quick service restaurant (QSR) with a Drive-Thru is currently leased by a national brand name chain, making it a great anchor and draw for the future retail center to be developed. The real property sale includes a massive street sign currently used by the tenant business with two "bow tie" signs. All signs are back-lit. The other current source of revenue is a V shaped billboard that is in like new condition. Currently, there is a moratorium on new billboards, so this is a rare and valuable asset for the buyer. The 45 MPH speed limit on Highway 158 allows for great visibility and advertising for any business day or night. The billboard has electricity and is lighted on one side, which can easily be expanded to the other side as well. This property is surrounded by new and existing communities and located in the heart of the commercial center of town. See Associated Docs for As-Built Survey, Site Plan and Conceptual Build-Out of additional 10k sf.