229 Main AveErwin, TN 37650
- Office properties
- 20,227 SF
Property Details for 229 Main Ave
- Year built
- 1920
- Construction
- WOOD
- Lot size
- 175.00 AC
- Property size (Sq ft)
- 20,227 SF
- Zone code
- B-3
- Property type
- Office properties
- Property subtype
- Other office properties
- APN
- 086023N T 01900
- APU
- 086023NT01900
Description
This exceptional 18,736 square foot commercial property, situated on a 0.83-acre lot at 229 S Main Avenue in the heart of Erwin, Tennessee, presents a unique investment opportunity. Originally a historic hotel, this Colonial-style building has undergone significant renovations over the years, most recently being updated for professional office use approximately 20 years ago. The main level boasts an attractive lobby with a reception area, multiple private offices, work cubicles, and restrooms. This layout is mirrored on the second floor, which also includes a spacious conference room, ideal for meetings and presentations. A fully finished basement adds further functionality, featuring a dedicated training room, a well-equipped kitchen, and additional restrooms. The building's versatile design allows for a wide range of commercial uses. Its central downtown location provides excellent visibility and accessibility, making it an attractive proposition for businesses seeking a prominent presence in Erwin. The property is zoned B3, offering flexibility for various commercial ventures. This is a rare chance to acquire a substantial, well-maintained commercial building with a rich history and significant potential in a thriving Tennessee town. The asking price is $495,000.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $3,906,466
- 6.5%
- $3,605,968
- 7%
- $3,348,399
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,665,289
- Geo Method
- $1,665,289
-
Alternative Use
- Use
- Valuation
- Residential
- $4,471,401
- Hospitality
- $4,095,779
- Educational
- $3,407,640
- Medical
- $3,524,834
- Retail
- $5,300,774
Location Insight
- City
- Erwin
- County
- Unicoi
- State
- Tennessee
- Latitude
- 36.1442
- Longitude
- -82.4183
- CBSA code
- 27740
- CBSA name
- JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].