240 Hannah RdHarriman, TN 37748

Property Details for 240 Hannah Rd

Year built

1972

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

4.63 AC

Property size (Sq ft)

60,765 SF

Property type

Assisted living facilities

Property subtype

Retirement homes

APN

073018 00202

APU

7301800202

Description

This exceptional vacant senior care and rehabilitation center presents a unique investment opportunity in Harriman, Tennessee. Boasting a substantial 54,899 square feet of space, this property sits on a generous 4.63-acre lot and offers ample parking with 76 designated spots. Originally constructed in 1966, the facility underwent a complete renovation in 2009, ensuring modern amenities and functionality. The unit mix comprises 14 private rooms (14 beds) and 83 semi-private rooms (166 beds), providing significant capacity. The sale includes all furniture, fixtures, and equipment, streamlining the transition for a new operator. Key operational areas are well-equipped, featuring a commercial kitchen, a commercial laundry facility, and a dedicated dining room. Administrative offices are also included. The property is located at 240 Hannah Rd, Harriman, TN 37748, and is offered at an asking price of $2,495,000, translating to $45.45 per square foot. This represents a compelling opportunity to acquire a well-maintained, fully equipped senior living facility ready for immediate operation or redevelopment.

• CAP approach

  CAP return

  Valuation

  6%

  $12,562,891

  6.5%

  $11,596,515

  7%

  $10,768,192

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,382,711

  Geo Method

  $13,630,744

• Alternative Use

  Use

  Valuation

  Residential

  $14,710,668

  Hospitality

  $13,474,893

  Educational

  $11,210,953

  Medical

  $11,596,515

  Retail

  $17,439,260

Location Insight

City

Harriman

County

Roane

State

Tennessee

Latitude

35.9626

Longitude

-84.5264

CBSA code

28940

CBSA name

KNOXVILLE, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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