435 Main StHohenwald, TN 38462

  • Retail properties
  • 1,173 SF
For Sale
$600,000 View listing

Property Details for 435 Main St

Year built
1975
Lot size
0.40 AC
Property size (Sq ft)
1,173 SF
Zone code
C-3
Property type
Retail properties
Property subtype
Drive through restaurants
APN
051035P C 00801
APU
051035PC00801

Description

This fee-simple Sonic Drive-In in Hohenwald, Tennessee, presents a compelling redevelopment opportunity for developers or users. Located at 435 E Main St, this 1,173 square foot property sits on a highly visible 100+ foot frontage along E Main St, a major retail thoroughfare with approximately 11,880 vehicles passing daily. The property boasts a strong retail presence, neighboring Walmart, Hardee's, McDonald's, and other national brands. Currently operating under a NNN lease with 1.4 years remaining, the property offers a $600,000 asking price, a 5.50% cap rate, and a $33,000 NOI. Built in 1975, this single-tenant property is a top performer, ranking in the 79th percentile for Sonic locations nationwide, with over 460,000 annual visitors according to AlphaMaps data. This location offers significant upside potential for those seeking to capitalize on its prime location and high foot traffic. The property's strong performance and location make it an attractive investment opportunity. The property is located in Lewis County, Tennessee, zip code 38462.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $297,878
    6.5%
    $274,964
    7%
    $255,324
  • Comparable approach

    Method
    Valuation
    Relative Method
    $254,449
    Geo Method
    $254,449
  • Alternative Use

    Use
    Valuation
    Residential
    $231,943
    Hospitality
    $212,458
    Educational
    $176,763
    Medical
    $182,842
    Retail
    $274,964
435 Main St, Hohenwald, Tennessee

Location Insight

City
Hohenwald
County
Lewis
State
Tennessee
Latitude
35.5507
Longitude
-87.5421

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
-
$29,400
$79,240
$108,640
-
$73,500
$198,100
$271,600

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