456 Broad StSmithville, TN 37166

Property Details for 456 Broad St

Year built

1958

Lot size

1.14 AC

Property size (Sq ft)

2,880 SF

Zone code

B2

Property type

Retail properties

Property subtype

Retail space

APN

021064K C 00800

APU

021064KC00800

Description

This exceptional Smithville, TN retail property, located at 456 W Broad St, presents a unique investment opportunity. The 0.21-acre lot houses a building that has operated as a successful laundry mat since 1957, boasting a consistent lease for at least 40 years. Currently leased, this business enjoys a strong position as the only laundry mat within a 20-30 mile radius, ensuring continued high demand. The building itself is in excellent condition, featuring a roof that's only 6 years old and a heating, cooling, and air conditioning system that's just 4 years old. While the current tenant's contents are not included in the sale, the building's versatile layout offers a multitude of redevelopment options. Potential uses include, but are not limited to, office space, restaurants, or even a dog grooming business. The property's strong history, prime location, and recent upgrades combine to create a compelling investment prospect. Note that adjacent buildings are also potentially available for purchase from the same owner. All information should be independently verified by prospective buyers. The asking price for this remarkable property is $428,000.

• CAP approach

  CAP return

  Valuation

  6%

  $731,363

  6.5%

  $675,104

  7%

  $626,883

• Comparable approach

  Method

  Valuation

  Relative Method

  $624,734

  Geo Method

  $624,734

• Alternative Use

  Use

  Valuation

  Residential

  $569,476

  Hospitality

  $521,637

  Educational

  $433,996

  Medical

  $448,922

  Retail

  $675,104

Location Insight

City

Smithville

County

Dekalb

State

Tennessee

Latitude

35.9589

Longitude

-85.8258

Property Tax & Assessments

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