13734 Highway 28Whitwell, TN 37397

Property Details for 13734 Highway 28

Year built

1994

Lot size

0.62 AC

Property size (Sq ft)

892 SF

Property type

Retail properties

Property subtype

Retail space

APN

058050B D 02300

APU

058050BD02300

Description

This meticulously remodeled 620 sq ft retail building, situated on a 0.57-acre lot at 13734 Highway 28 in Whitwell, Tennessee, presents a unique investment opportunity. Previously a boutique, the property currently operates as a thriving tanning salon and spa, offering immediate income potential. A complete renovation, from foundation to finish, included new paint, fixtures, plumbing, electrical systems, sheetrock, and flooring. Two new split heat and air units, installed just a year and a half ago, ensure efficient climate control. Exterior improvements include new vinyl siding and a one-year-old roof and gutters, minimizing future maintenance needs. The interior layout is flexible and adaptable. The rear of the building houses two 32-bulb Heartland brand tanning beds with exhaust fans, a 52-bulb s9-minute stand-up tanning unit, a Versa Spa sunless spray tanning booth, an Aspen spa capsule with heat, massage, and aromatherapy features, a teeth whitening room, and dedicated salon and nail service areas. These additional spaces offer significant potential for rental income or expansion of existing services. The property's central location on the main highway in Whitwell ensures high visibility and accessibility. This turnkey operation comes complete with an established clientele, making it an ideal acquisition for an entrepreneur seeking immediate returns and growth potential. The asking price is $275,000.

• CAP approach

  CAP return

  Valuation

  6%

  $277,333

  6.5%

  $256,000

  7%

  $237,714

• Comparable approach

  Method

  Valuation

  Relative Method

  $366,151

  Geo Method

  $438,464

• Alternative Use

  Use

  Valuation

  Residential

  $215,945

  Hospitality

  $197,805

  Educational

  $164,571

  Medical

  $170,231

  Retail

  $256,000

Location Insight

City

Whitwell

County

Marion

State

Tennessee

Latitude

35.1986

Longitude

-85.5173

CBSA code

16860

CBSA name

CHATTANOOGA, TN-GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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