1740 Highway 149Palmyra, TN 37142

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 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.

• 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

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

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