401 Devonia StHarriman, TN 37748
- Healthcare properties
- 7,304 SF
Property Details for 401 Devonia St
- Year built
- 1962
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.22 AC
- Property size (Sq ft)
- 7,304 SF
- Property type
- Healthcare properties
- Property subtype
- Medical offices
- APN
- 073026F E 01101
- APU
- 073026FE01101
Description
This 7,208-square-foot commercial building, located at 401 Devonia St in the heart of Harriman, Tennessee (zip code 37748), presents a unique investment opportunity. Built in 1962, this Class C property sits on a 9,583-square-foot lot and is priced at $325,000. The building's versatile layout offers a multitude of possibilities, previously housing medical offices, a tanning salon, and other professional services. The spacious interior features two large reception areas, numerous offices spread across two floors (approximately 3,500 square feet downstairs and 3,700 square feet upstairs), and multiple entrances, ideal for multi-tenant occupancy. The property's adaptability extends to potential conversion into residential housing, catering to the community's needs. Harriman's demographics, with a median household income of $51,406, a population of 16,846, and a median age of 46.1, suggest a stable market. The building's size and location in downtown Harriman make it an attractive prospect for various businesses or redevelopment projects. The property is zoned for mixed-use, including hospitality, office, and retail uses. This presents a rare chance to acquire a substantial property in a thriving Tennessee town. Broker co-op is available.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,544,828
- 6.5%
- $1,425,995
- 7%
- $1,324,138
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,189,748
- Geo Method
- $1,424,718
-
Alternative Use
- Use
- Valuation
- Residential
- $1,768,234
- Hospitality
- $1,619,693
- Educational
- $1,347,565
- Medical
- $1,393,910
- Retail
- $2,096,212
Location Insight
- City
- Harriman
- County
- Roane
- State
- Tennessee
- Latitude
- 35.9354
- Longitude
- -84.5524
- CBSA code
- 28940
- CBSA name
- KNOXVILLE, TN METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
FAQs
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