Commercial property hitting the market on Taft Highway

Commercial property hitting the market on Taft Highway

July 6th, 2011 by Jennifer Bardoner in Local Regional News

A fairly large chunk of commercial property fronting Taft Highway is up for grabs in Walden.

"It's a steal as far as property goes," Lynn Sexton said of the 1.3 total acres which houses Golden Palace, Lynn's Market, Jack's Barbershop and a small residence. Her family has owned the land since the 1972, but is now offering it for $750,000 for the two parcels.

"They cannot be divided; because of the way the parcels are they overlap, so we're selling it all as one property," said Crye-Leike real estate agent Eleanor Dobson. "Now if they bought it they could do whatever they wanted, probably, but they can't sell you one or the other. It has to be both."

The buildings are currently leased, Lynn's until December of this year and the Golden Palace for three more years, according to Sexton.

"[The leases] will remain in effect," she said. "I'm assuming whoever buys it will work out whatever with them. They have to honor those until they're completed."

The barbershop, which is open for business again following son Jack Sexton's motorcycle accident, would be relocated somewhere else on the mountain should the new owner have different plans in mind, said Sexton. The neighboring house is inhabitable - Sexton lived there until 1993 - and currently has a tenant.

"I know what I'd do if I were young again," she said. "I'd take those buildings down and put up a convenience store with pumps in it and storage buildings behind it and make a couple spaces for like the barber shop to go in or something like that. We just don't want to worry about property anymore."

In a bedroom community like Signal Mountain, there is not much commercial property available, said Dobson.