12533 1St StMilan, TN 38358

Property Details for 12533 1St St

Year built

2003

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.12 AC

Property size (Sq ft)

1,200 SF

Property type

Retail space

APN

143 03615

APU

14303615

Description

This exceptional 5.5-acre commercial land parcel, totaling 239,580 square feet, presents a rare development opportunity in Milan, Tennessee. Strategically located on US Highway 45, a four-lane highway extending from the Gulf of Mexico to the Great Lakes, this property boasts unparalleled visibility and accessibility. The site currently includes an existing car sales office with a large shop, a 3,750 square foot rental space previously used for firecracker sales, and 65 mini storage units, offering immediate income potential or redevelopment options. This is one of only two buildable properties situated between McDonald's and Walmart in Milan, ensuring high traffic volume and strong brand recognition. The land is divided into three convenient tracts, providing flexibility for various development scenarios. This prime location offers significant potential for a wide range of commercial ventures, capitalizing on the high traffic count and strategic positioning along a major transportation artery. The asking price for this exceptional property is $1,700,000. Don't miss this chance to secure a prominent commercial presence in a thriving Tennessee market. The property is located at 12533 S 1st St, Milan, TN 38358, in Gibson County.

• CAP approach

  CAP return

  Valuation

  6%

  $403,213

  6.5%

  $372,197

  7%

  $345,611

• Comparable approach

  Method

  Valuation

  Relative Method

  $235,751

  Geo Method

  $235,751

• Alternative Use

  Use

  Valuation

  Residential

  $313,962

  Hospitality

  $287,587

  Educational

  $239,269

  Medical

  $247,498

  Retail

  $372,197

Location Insight

City

Milan

County

Gibson

State

Tennessee

Latitude

35.8866

Longitude

-88.7483

CBSA code

27180

CBSA name

JACKSON, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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