22,900 SqFt
22,900 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 22,900 sqft
Price per Sqft $39
Subdivision Not In Subdivision
MLS Listing ID 9994142
HOA Y/N No
Total Fin. Sqft 22900
Year Built 1947
Lot Size 1.380 Acres
Acres 1.38
Lot Dimensions 179 x 202
Source Tennessee/Virginia Regional MLS
Property Description
Currently generating approximately $7,653 per month, with three vacant units advertised for rent, the property presents a strong value-add opportunity with roughly 30% vacancy remaining--ideal for increasing income and boosting returns. The current net income stands at $91,838 annually, making this one of the highest CAP rate opportunities on the market.
The building is partially owner-occupied by a church utilizing three separate areas, including a newly renovated reception hall. Additional on-site tenants include a daycare and a thrift store, further diversifying income streams. In total, there are eight established tenants and three vacant units ready for lease-up.
Recent capital improvements include a new roof and multiple brand-new HVAC systems, reducing near-term maintenance concerns for the next owner.
An added bonus is the included adjacent parcel (100L H 021.00), a 0.55-acre lot with frontage on S. Rogers St., offering excellent potential for additional parking, storage units, or future development.
This property is ideal for an investor seeking steady income with room to grow, or for a religious organization looking to expand into a multi-use facility.
Location
State TN
County Hawkins
Community Not In Subdivision
Area 1.38
Zoning HB-3
Direction From Highway 11W turn onto N Hasson St., go 0.4 miles and turn left on W Main St.. Go 350 ft. to building
Interior
Heating Central, Heat Pump
Cooling Central Air, Heat Pump
Equipment Garage Bay(s)
Heat Source Central, Heat Pump
Exterior
Utilities Available Electricity Connected, Sewer Connected, Water Connected
Roof Type Rubber
Road Frontage City Street
Building
Sewer Public Sewer
Water Public
Structure Type Block
New Construction No
Others
Senior Community No
Tax ID 100l H 018.00
Acceptable Financing Conventional
Listing Terms Conventional