1740 Highway 149Palmyra, TN 37142

  • Retail properties
  • 8,197 SF
For Sale
$1,206,339 View listing

Property Details for 1740 Highway 149

Year built
2014
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Lot size
2.45 AC
Property size (Sq ft)
8,197 SF
Zone code
C-1
Property type
Retail properties
Property subtype
Retail space
APN
114C C 00100 000
APU
114CC00100000

Description

This exceptional retail property, located at 1740 Highway 149 in Palmyra, Tennessee, offers 8,197 square feet of versatile commercial space situated on a 2.46-acre lot. The property is currently under a base lease agreement with Dollar General (DG) that expires November 30, 2029. This lease provides significant long-term stability with three built-in five-year extension options, offering a secure investment opportunity for the buyer. The current tenant is responsible for all maintenance and insurance expenses. The property owner handles property taxes and invoices DG for reimbursement, streamlining the management process. This prime location on Highway 149 ensures high visibility and accessibility, making it an ideal investment for those seeking a stable, income-generating retail property with a strong tenant in place and a long-term lease agreement. The substantial lot size also presents potential for future expansion or development. This property represents a rare opportunity to acquire a well-established retail center with a secure lease and significant upside potential. The asking price is $1,206,339.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $2,081,592
    6.5%
    $1,921,469
    7%
    $1,784,221
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,778,106
    Geo Method
    $1,778,106
  • Alternative Use

    Use
    Valuation
    Residential
    $1,620,831
    Hospitality
    $1,484,673
    Educational
    $1,235,230
    Medical
    $1,277,712
    Retail
    $1,921,469
1740 Highway 149, Palmyra, Tennessee

Location Insight

City
Palmyra
County
Montgomery
State
Tennessee
Latitude
36.4478
Longitude
-87.448
CBSA code
17300
CBSA name
CLARKSVILLE, TN-KY 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
$7,793
-
-
$260,640
-
$11,300
$640,300
$651,600

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