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ELIZABETHTON, Tenn. (WJHL) — Elizabethton will get its first Dunkin’ as part of a 6,812-square-foot commercial building that’s being prepped on West Elk Avenue.
“We’re looking at completion sometime in the first quarter of next year,” developer K.D. Moore told News Channel 11 this week of the site directly across from Sycamore Shoals Hospital.
The building marks Phase II of the Center at West Elk project that Moore’s group of companies is developing. It’s on land once home to a box factory and now anchored by Medical Care LLC. The first phase is occupied by a Freddy’s Steakburgers, Java Juice, Great Clips and has one open space with a nail salon coming to it, according to Moore.
Crews were busy grading and working on underground infrastructure this week. Moore said the Dunkin’ will occupy the east end of the building closest to the current strip center with a drive-through on the side. The remaining suites are listed at 2,600 and 2,000 square feet.
“We’ve got some other restaurant and retail operators interested in the other units,” Moore said.
An LLC, Center at West Elk Avenue II, purchased the 1.5-acre lot in March of this year for $401,125. The completed strip center was bought in 2019 for $448,875 and now has a tax-appraised value of $1.4 million.
Moore’s group paid $475,000 in August for two adjacent residential properties just west of Phase II. He said that will mark Phase III, at the corner of Williams Street and the access road off of West Elk Avenue.
“It’s a great corner,” Moore said of Phase III. “We’ve had a lot of interest.”
WHAT: A new, 6,812-square-foot, three-tenant shopping center on a 1.5-acre lot. Dunkin is confirmed as one tenant.
WHERE: 1524 W. Elk Avenue, Elizabethton. Just west of Medical Care LLC.
WHO: KDM Properties (regional developer K.D. Moore). Moore’s TrueLine construction is the builder.
WHEN: Building permit obtained Sept. 9, 2022. Completion is expected in early 2023.
YOUR TAX BENEFIT: Moore estimates the project at a valuation of $2.5 to $3 million. If assessed at $2 million, it would generate about $29,000 annually in combined city and county property taxes. The nature of tenants should bring significant local option sales tax revenue.