151 Freeman StTullahoma, TN 37388

Property Details for 151 Freeman St

Year built

2000

Construction

FRAME

Lot size

1.14 AC

Property size (Sq ft)

12,670 SF

Property type

Office properties

APN

016123H A 02500

APU

016123HA02500

Description

This exceptional mixed-use property in Tullahoma, Tennessee, presents a compelling investment opportunity. The main building, a Class B metal office building with a brick front, boasts a substantial 8,800 square feet, with approximately 8,800 square feet currently leased to the Tennessee Department of Children's Services. This lease agreement ensures a stable income stream, with rent increasing to $8,667 per month starting July 1, 2024, and continuing through June 30, 2029. An additional 3,740 square feet is available for lease at $1,500 per month, offering further income potential. The property sits on a generous 1.14-acre lot. Adding to the investment appeal is a 3-bedroom home located at 147 Silver Street, situated behind the main building, which generates rental income of $610 per month. Annual property taxes for the main building are $16,722, while the home's annual taxes amount to $514. This turnkey investment offers a blend of secure, long-term rental income and potential for additional lease revenue, making it an attractive proposition for discerning investors. The property's location in Tullahoma provides convenient access to local amenities and transportation networks.

• CAP approach

  CAP return

  Valuation

  6%

  $2,679,760

  6.5%

  $2,473,625

  7%

  $2,296,937

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,063,816

  Geo Method

  $2,471,410

• Alternative Use

  Use

  Valuation

  Residential

  $3,067,295

  Hospitality

  $2,809,626

  Educational

  $2,337,576

  Medical

  $2,417,968

  Retail

  $3,636,228

Location Insight

City

Tullahoma

County

Coffee

State

Tennessee

Latitude

35.3712

Longitude

-86.1856

CBSA code

46100

CBSA name

TULLAHOMA, TN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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