23470 Rhea County HwySpring City, TN 37381
- Retail space
- 9,322 SF
Property Details for 23470 Rhea County Hwy
- Year built
- 2009
- Lot size
- 0.72 AC
- Property size (Sq ft)
- 9,322 SF
- Property type
- Retail space
- APN
- 031 01700
- APU
- 3101700
Description
This 9,066 square foot multi-use building presents a compelling investment opportunity in Spring City, Tennessee. Located on a 0.72-acre lot at 23470 Rhea County Hwy, 37381, this Class B property boasts excellent visibility due to its prime location on Rhea County Highway. Built in 2009, the single-story structure features a 10-13 foot ceiling height, one ground-level roll-up door ideal for truck deliveries, and updated LED lighting. A large parking lot ensures easy ingress and egress. The property includes a walk-in refrigeration/freezer unit. The flexible C-4 zoning allows for a wide range of uses, including retail, office, fitness center, climate-controlled storage, warehousing, light manufacturing, and restaurants. The property is vacant and being sold "as is, where is." This strategically located building offers easy access to both the Chattanooga and Knoxville Metropolitan Statistical Areas. The asking price is $650,000, with a price per square foot of $71.70. The property's APN is 031 017.00. This is a rare opportunity to acquire a versatile commercial property in a growing area.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,898,316
- 6.5%
- $2,675,369
- 7%
- $2,484,271
-
Comparable approach
- Method
- Valuation
- Relative Method
- $3,826,520
- Geo Method
- $4,582,240
-
Alternative Use
- Use
- Valuation
- Residential
- $2,256,774
- Hospitality
- $2,067,192
- Educational
- $1,719,880
- Medical
- $1,779,029
- Retail
- $2,675,369
Location Insight
- City
- Spring City
- County
- Rhea
- State
- Tennessee
- Latitude
- 35.7026
- Longitude
- -84.8516
- CBSA code
- 19420
- CBSA name
- DAYTON, TN MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
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