ELIZABETHTON, Tenn. – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the $2.1 million sale of a prime retail property at 980 Over Mountain Drive in Elizabethton, Tennessee. The 1.4-acre site, located in front of a Walmart Super Center, is a high-traffic location with great visibility, that was acquired for redevelopment.
“This property presented a unique opportunity for the buyer to secure a high-visibility site in a dynamic retail corridor,” said Peter Malone, senior associate. “The successful sale underscores the strong demand for well-located redevelopment opportunities in the region.”
Malone, investment specialist in Marcus & Millichap’s Knoxville office, had the exclusive listing to market the property on behalf of the seller.
The property features 1.4 acres of land with a 6,746-square-foot structure previously used as a restaurant. Positioned on a major thoroughfare, the site benefits from over 24,000 daily vehicle impressions. The buyer secured planning board approval to redevelop the property into a car wash, leveraging its strategic location.
