231 Cedar AveSouth Pittsburg, TN 37380

  • Retail properties
  • 1,000 SF
For Sale
$450,000 View listing

Property Details for 231 Cedar Ave

Year built
1900
Lot size
0.08 AC
Property size (Sq ft)
1,000 SF
Property type
Retail properties
Property subtype
Retail space
APN
058142J C 01200
APU
058142JC01200

Description

This 1,000 square foot retail property, located at 231 S Cedar Ave in South Pittsburg, Tennessee, is a thriving bakery business for sale. The building, constructed in 1900 and extensively renovated in 2021, is situated in a high-traffic area, benefiting from its proximity to I-24 (Exit 152) and US Hwy 72. South Pittsburg's location makes it easily accessible to a large customer base, further enhanced by its hosting of the annual National Cornbread Festival, attracting over 20,000 visitors each April. The property is zoned for commercial use and includes a significant amount of equipment (list available). Currently operating as a successful bakery, this turnkey operation offers a unique opportunity for a new owner to step into an established business with a loyal customer base. Showings are available after hours to accommodate the business's operational schedule. The asking price is $450,000, representing a price per square foot of $450. This single-story building presents a compelling investment opportunity in a vibrant and growing community. The sale includes all existing equipment.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $310,911
    6.5%
    $286,995
    7%
    $266,496
  • Comparable approach

    Method
    Valuation
    Relative Method
    $410,483
    Geo Method
    $491,551
  • Alternative Use

    Use
    Valuation
    Residential
    $242,091
    Hospitality
    $221,754
    Educational
    $184,497
    Medical
    $190,842
    Retail
    $286,995
231 Cedar Ave, South Pittsburg, Tennessee

Location Insight

City
South Pittsburg
County
Marion
State
Tennessee
Latitude
35.0125
Longitude
-85.7043
CBSA code
16860
CBSA name
CHATTANOOGA, TN-GA 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
2022
$405
$4,050
$12,125
$16,175
-
$16,200
$48,500
$64,700

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