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63 Talona Spur
Ellijay, GA 30536
$5,500,000
Conventional
Property
Bedroom
--
Bathroom
--
Property Type
Conventional
Square ft
38619 Square Feet
Property Description
Located at 63 Talona Spur Road in Ellijay, Georgia, this opportunity includes the real estate as well as the business. All of the business' equipment & up to $150,000 worth of inventory are included. Any inventory in excess of $150,000 held by the business at the time of sale may be included in the sale & is negotiable. The property is situated on 7.75 acres that is highly visible from Georgia State Route 515. SR-515 is the main thoroughfare in the area which connects the Atlanta area to the North Georgia Mountains and has a traffic count of 19,800 vehicles per day in Ellijay. The buildings were built between 1992 and 2016 and total approximately 38,619 square feet of space, which is comprised of 16,532 square feet of retail & kitchen area, 19,549 square feet of warehouse/processing area, and 2,538 square feet of cold storage. There is ample parking with 204 parking spaces & plenty of additional gravel parking. The property is bordered by a stone/metal fence with pillared gates at the parking lots entrance & exit. The business was originally founded in 1927 by the current owner's grandfather, Joel Stembridge, and has remained in the family since. Panorama Orchards & Farm Market is a specialty grocery store that features more than 20 varieties of apples, peaches, other fruits & vegetables, and a wide array of other specialty products. Specialty products include apple cider and delicious baked goods which are prepared on site. The business originally began by growing apples and wholesaling, however due to market changes the business shifted into retail in the 1980's. The business typically employs 16-19 employees full-time and has up to 40 seasonal employees during prime apple season. Panorama prides themselves on their top-quality products and friendly service, which has resulted in an unparalleled local reputation and strong revenue growth. Revenue has increased by 75% since 2017. Financial information is available upon request for qualified buyers.
Property Information
Lot Size
7 acre(s) square ft
Property Type
Commercial Sale-Commercial
Year Built
1992
MLS Number
--
Location
Address
63 Talona Spur
City
Ellijay
State
GA
Zip Code
30536
County
GILMER
Listing
Name
Phone
(706) 745-8097
Office Name
Office Phone
(706) 745-8097
Agent Name
Raymond Catena
Agency Phone
(706) 745-8097

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.