206 Cedar AveSouth Pittsburg, TN 37380

Property Details for 206 Cedar Ave

Year built

1918

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.08 AC

Property size (Sq ft)

7,121 SF

Property type

Retail space

APN

058142J B 01500

APU

058142JB01500

Description

This exceptional mixed-use property in downtown South Pittsburg, Tennessee, presents a unique investment opportunity. The 4,932 square foot building, constructed in 1918, sits on a 3,500 square foot lot and is offered at $999,900 ($202.74/sq ft). The two-story structure boasts a rich history, having previously housed a successful ladies' clothing store for decades. The main floor offers excellent space for retail, hospitality, or restaurant use, while the upper floors provide significant residential potential. One upstairs apartment is already in place, offering immediate rental income possibilities, while additional apartments could be developed in the connected building at 208 S Cedar Ave (included in the sale). The property retains many original features, including tin ceilings, hardwood floors, and ceramic tile, adding to its unique charm and character. A notable feature is the original back cabinet from the former Sartain Drugs soda fountain. The rear of 206 S Cedar Ave includes a garage and an open courtyard. The third floor offers a blank canvas with original hardwood floors and brick walls, ready for creative development. This property is ideally suited for an owner-operator seeking a blend of commercial and residential space, or an investor looking for strong rental income potential in a vibrant downtown location. The property's prime location and historical significance make it a truly remarkable investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $2,214,000

  6.5%

  $2,043,692

  7%

  $1,897,714

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,923,048

  Geo Method

  $3,500,336

• Alternative Use

  Use

  Valuation

  Residential

  $1,723,931

  Hospitality

  $1,579,112

  Educational

  $1,313,802

  Medical

  $1,358,986

  Retail

  $2,043,692

Location Insight

City

South Pittsburg

County

Marion

State

Tennessee

Latitude

35.0135

Longitude

-85.7046

CBSA code

16860

CBSA name

CHATTANOOGA, TN-GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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