401 Devonia StHarriman, TN 37748

  • Healthcare properties
  • 7,304 SF
For Sale
$325,000 View listing

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
401 Devonia St, Harriman, Tennessee

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
0
-
$3,040
$112,080
$115,120
-
$7,600
$280,200
$287,800

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