Land along The Strip has been as valuable as doubloons over the past year. Instead of rushing to the West Coast for the California Gold Rush, you’d have better luck striking it rich if you discovered available property along Chancery Street and New Smithville Highway.
Just look at recent transactions. According to our reliable friends at the Property Assessor’s office, the land where Bojangles is located sold for $500,000.
Last August, the property where Zaxby’s is being constructed sold for $425,000. Then, to top it all off with butter and sour cream, the property where Captain D’s will soon be under construction sold for $450,000.
If you have property for sale along The Strip, you’re likely headed for a new tax bracket. But for those looking for affordable property along the most high-traffic road in McMinnville, I bring parade-worthy news. The property on Chancery Street that was long home to Shockley’s Carpet has just hit the market. And it’s being listed for $218,000, which is below its property tax appraisal value.
“This is bittersweet for us because we all grew up here,” said Jamie King, who owns the property along with two out-of-state sisters. “I used to swing from a rope that hung back in the warehouse as a kid. My dad had a good business here at this spot and he had it for 48 years. I’d love to see someone get it and it be a place where they can make a good living. I don’t want to start a business. I’m way too busy. But it can be a great spot for someone else. This lot and the location is really what you’re buying. The location is the best.”
Many local residents will remember Jamie’s dad, Jim Shockley, had a successful carpet business at that spot for decades. He sold carpet and vinyl flooring and also expanded to sell wallpaper, pottery and oriental rugs.
Jim had been battling cancer and turned the business into a residence during that time. Jamie said he was winning his fight against cancer as his tumor was shrinking, but then he was struck down by pneumonia and died Feb. 17. He was a good man and a smart businessman.
The property, which is a 110 x 140-foot lot, has intriguing possibilities. The way restaurants have been snatching up property along The Strip, the first thing that comes to mind is removing the three buildings and marketing a vacant lot in hopes of attracting Logan’s Roadhouse. Considering how the property is priced, that’s a feasible option.
The other option is to buy the property and work with what you’ve got. Jamie says Pretty Things has been renting one of the buildings for a couple years and has expressed an interest to stay. That provides steady rental income.
That leaves the other two buildings, the old Shockley Carpet office and the warehouse in back, available for other endeavors. The one glaring drawback to this option is parking is limited to around six vehicles under the current configuration, which eliminates a number of possible uses.
“We’ve had some nibbles from people who have come in and asked about the property while we’ve been cleaning it out,” said Jamie. “We’ve gone back and forth on what to do and whether it would be worth it to do some repairs and fix it up, or just sell it as is, and we’ve decided to sell it as is. It’s for sale by owner right now and I’m going to see how that works. We might list it down the road. We might auction it. I don’t know how it’s going to end up.”
The property is listed with a value of $219,600 on tax records. It’s extremely rare for owners to sell below that property tax value, but that’s what Jamie and her sisters are doing. If you’d like to find out more about this prime-time piece of real estate, Jamie can be reached at 224-6070.

Captain D’s news washes ashore

When I told you back in March about Captain D’s purchasing the land next to Bojangles for a shiny, new restaurant, it seemed like construction on this new building was on the verge of beginning. However, as anyone driving by the site has noticed, no work has been done.
This fact isn’t lost on Captain D’s employees, who have been answering non-stop questions about the new restaurant and when work might start. While I don’t have a definitive answer to that question, I can tell you the proposed restaurant design has undergone a few tweaks and that’s the reason behind the delay.
From what I understand, we’re probably still a couple months away from the start of this project so we’re going to have to hold our horses, or in this case our catfish. At least we have a fully operational Captain D’s to satisfy our craving for fried fish until the new restaurant is built.

VFW to reel in $5 parking fee

With kayaking exploding on the scene as a watery pastime, the VFW parking lot has become a popular place because of its boat ramp and access to the Collins River. It’s become so popular, VFW officials have decided to charge $5 a vehicle for anyone parking in their lot to access the river.
“We get so many fishermen and kayakers crammed up in here, we don’t have any place for our members and guests to park,” said VFW official Curtis Conner. “I’m not denying anyone access to the river. If they just want to use our ramp, that’s fine. But if they’re going to park in our parking lot, they’re going to have to pay.”
The $5 charge went into effect last weekend. Curtis said frequent users may find it more affordable to buy a $60 annual pass, which is good for 12 months.
A sign has been placed informing motorists of the $5 charge and Curtis says he’s putting flyers on windshields in an effort to spread the word. He will be patrolling the parking lot on four-wheeler for much of the time and says there will be a box for people to use the honor system when he’s not around.
“I think 90 percent of the people are good, decent folks and they’ll do the right thing and pay,” said Curtis.
As some people may know, the VFW is enduring some rocky economic times and this $5 fee is viewed as a way to provide a financial jolt. The VFW and its 11 acres along the river are for sale and listed at $400,000.
“We just don’t have many ways to generate revenue,” said Curtis, who indicated VFW membership has dwindled from 480 people two years ago to its current membership of 260.
Sales from the restaurant and lounge area are the primary source of income. Revenue is also gained from renting the hall for special events.
There is a push for the TWRA to lease the boat ramp from the VFW, an option which would eliminate the $5 parking fee. This is an option endorsed by Chamber of Commerce president Mandy Eller, who wants our rivers to remain as accessible as possible without a fee attached.
“I recognize that our rivers are one of our greatest tourism assets and I believe they are key in the future economic development of our community,” said Mandy. “Making them as accessible as possible for all citizens and tourists alike is very important, so I naturally have concern over this development.”
The $5 fee isn’t prohibitive, but it is pesky. Free is the price most folks like best.

Marketville Mania awaits

A date has been set for the once-a-year thrill ride known as the Southern Standard’s Marketville. That date is Saturday, July 16.
Mark your calendars and make note of a new location as Marketville is moving from Warren County Fairgrounds to the comforting shade trees of the Blue Building.
Marketville offers excitement for the entire family. There are yard sale vendors, craft vendors, food vendors, and even a car show. If you want to stretch your legs and get a little exercise, a 5K run is set to start at 7:30 a.m.
Last year the Standard had around 90 vendors and a number of captivating contests. This included a milk chugging contest and a competition for best tattoo.
Wacky contests are sure to return this year, although we’ve yet to make up our minds about what to offer. I’m lobbying for a cellphone throwing contest and lawnmower racing. Advertising director Holly Cantrell would like to see chocolate pudding wrestling, which might be fun if we could figure out where to buy 500 gallons of pudding.
If you’d like to reserve your spot as a Marketville vendor, call Holly or Dale Stubblefield at 473-2191. More details will be released as the event draws nearer and the enthusiasm builds.

Dr. Patterson sees ocular honor

I’m pleased to announce Dr. Larry Patterson of Eye Centers of Tennessee has been named to Ocular Surgery News’ Premier Surgeon 300 list for refractive cataract surgery. He is the only doctor in this area to make the list.
The Premier Surgeon 300 is a list of premium refractive cataract surgeons selected by the editors and publisher of Ocular Surgery News as the leading innovators in the field. The surgeons on the list have educated their colleagues and developed novel technologies to advance refractive cataract surgery.
“Ocular Surgery News is a leading industry publication, so I’m thrilled to be named an innovator and leader in refractive cataract surgery by its editors,” said Dr. Patterson.
Dr. Patterson leads Eye Centers of Tennessee as its medical director. Eye Centers of Tennessee has a location in McMinnville at 220 N. Chancery Street, and also has locations in Cookeville, Crossville and Jamestown.
“It’s rewarding to take someone who is 70 years old who has worn glasses for most of their life, get rid of their cataracts, and also improve their vision at the same time to where they don’t need glasses anymore,” said Dr. Patterson.
In addition to his work in Tennessee, Dr. Patterson has done extensive medical mission work in Central America and the South Pacific. His son, Dr. Michael Patterson, is set to join the business Aug. 1.
Eye Centers of Tennessee is an Upper Cumberland area-based ophthalmology practice specializing in total eye care. It can be reached at 473-2487.

That’s all folks

I’m off to celebrate Mother’s Day and all its glory. It’s OK to forget about business news on this special day and concentrate all your attention on mom.