402 Main StLebanon, TN 37087

  • Retail properties
  • 1,725 SF
For Sale
$1,250,000 View listing

Property Details for 402 Main St

Year built
1936
Lot size
260.00 AC
Property size (Sq ft)
1,725 SF
Property type
Retail properties
Property subtype
Retail space
APN
067I B 01700
APU
067IB01700

Description

This exceptional mixed-use property in Lebanon, TN, presents a unique investment opportunity. Located just three blocks from the town square and a half-mile from the fairgrounds, this 1,700 square foot property sits on a large, fully fenced 0.49-acre lot. Currently operating as a thriving winery and an antique shop, the property offers immediate income potential. The main building, used as the winery, has undergone recent renovations, including new flooring, separate new air conditioning units, and an updated kitchen area. It also features two bathrooms. The second building, currently an antique shop, is zoned commercial and offers versatile options for use as office space, a home rental, or a bakery, among other possibilities. The expansive lot and lack of restrictive zoning regulations provide significant flexibility for future development. Potential redevelopment projects could include condominiums, a boutique hotel, or a storage facility. This property's prime location, existing income streams, and development potential make it an attractive investment for discerning buyers. The second building includes one bathroom. This is a rare opportunity to acquire a substantial property with multiple income streams and significant upside potential in a desirable location.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $438,056
    6.5%
    $404,359
    7%
    $375,477
  • Comparable approach

    Method
    Valuation
    Relative Method
    $374,190
    Geo Method
    $374,190
  • Alternative Use

    Use
    Valuation
    Residential
    $341,092
    Hospitality
    $312,439
    Educational
    $259,945
    Medical
    $268,885
    Retail
    $404,359
402 Main St, Lebanon, Tennessee

Location Insight

City
Lebanon
County
Wilson
State
Tennessee
Latitude
36.2072
Longitude
-86.2846
CBSA code
34980
CBSA name
NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$1,630
$41,600
$14,760
$56,360
-
$104,000
$36,900
$140,900

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