401 Devonia StHarriman, TN 37748

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

Medical offices

Property subtype

Medical centers

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.

• 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

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