301 Lake DrRipley, TN 38063

Property Details for 301 Lake Dr

Year built

1998

Lot size

9.39 AC

Property size (Sq ft)

8,360 SF

Zone code

B2

Property type

Office properties

Property subtype

Other office properties

APN

049077 03007

APU

4907703007

Description

This exceptional commercial building, situated conveniently off Highway 51 in Ripley, Tennessee, presents a unique investment opportunity. Boasting approximately 4,000 square feet of adaptable space, this property is ideal for a variety of business ventures. The layout includes two bathrooms, dedicated office areas, and expansive open spaces, providing flexibility for diverse operational needs. A key feature is the presence of two separate entrances, offering the potential to divide the building into two independent units, thereby increasing rental income or accommodating multiple tenants. This allows for customized configurations to suit individual business requirements. The property's prime location near Highway 51 ensures high visibility and easy accessibility for clients and employees. The building's size and layout make it suitable for a wide range of uses, from professional offices and retail spaces to light industrial operations. This is a rare opportunity to acquire a well-positioned commercial property in a thriving community. Serious inquiries are encouraged to explore the full potential of this versatile space. The property is offered at $335,000. The lot size is zero acres.

• CAP approach

  CAP return

  Valuation

  6%

  $1,910,918

  6.5%

  $1,763,925

  7%

  $1,637,930

• Comparable approach

  Method

  Valuation

  Relative Method

  $651,746

  Geo Method

  $651,746

• Alternative Use

  Use

  Valuation

  Residential

  $2,187,266

  Hospitality

  $2,003,524

  Educational

  $1,666,909

  Medical

  $1,724,236

  Retail

  $2,592,969

Location Insight

City

Ripley

County

Lauderdale

State

Tennessee

Latitude

35.7537

Longitude

-89.5473

Property Tax & Assessments

FAQs

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