402 Main StLebanon, TN 37087

Property Details for 402 Main St

Year built

1936

Lot size

260.00 AC

Property size (Sq ft)

1,725 SF

Property type

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.

• 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

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

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