3915 Unicoi DrUnicoi, TN 37692

Property Details for 3915 Unicoi Dr

Year built

1973

Construction

WOOD

Lot size

124.00 AC

Property size (Sq ft)

7,662 SF

Property type

Retail properties

Property subtype

Retail space

APN

086012E E 00800

APU

086012EE00800

Description

This 0.23-acre commercial property at 3915 Unicoi Drive, Unicoi, TN 37692, presents a compelling investment opportunity. Currently configured as a retail space with two apartments (one occupied, one vacant but with flooring purchased), this versatile building offers multiple income streams. The main-level retail area boasts high visibility and foot traffic, while the upstairs apartments provide immediate and potential rental income. A substantial basement offers significant storage or the possibility of additional lease income to a tradesperson or similar. The property's layout allows for significant expansion and reconfiguration. The vacant apartment is ready for customization, and the entire building could be renovated to create several more apartments, maximizing rental income. Its location in a growing area with convenient access to major routes ensures strong tenant appeal and customer accessibility. This property is ideal for investors seeking to diversify their portfolio or entrepreneurs looking to establish a thriving business. The asking price is $265,000.

• CAP approach

  CAP return

  Valuation

  6%

  $2,173,468

  6.5%

  $2,006,278

  7%

  $1,862,973

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,589,647

  Geo Method

  $1,589,647

• Alternative Use

  Use

  Valuation

  Residential

  $1,692,371

  Hospitality

  $1,550,202

  Educational

  $1,289,750

  Medical

  $1,334,107

  Retail

  $2,006,278

Location Insight

City

Unicoi

County

Unicoi

State

Tennessee

Latitude

36.1982

Longitude

-82.3501

CBSA code

27740

CBSA name

JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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