11 Rhea StSparta, TN 38583

Property Details for 11 Rhea St

Year built

1950

Lot size

0.04 AC

Property size (Sq ft)

2,076 SF

Zone code

C-C

Property type

Retail space

APN

093059B I 01400

APU

093059BI01400

Description

This newly updated and furnished 2,076 square foot commercial split-level building is located just one block from Bockman Way in downtown Sparta, offering convenient access to local amenities. Recent renovations include updated plumbing, electrical systems, windows, a commercial water heater, HVAC/split air unit, flooring, bathrooms, doors, trim, and kitchen. The rubber roof is only five years old, and a new sump pump has been installed. The property includes two bedrooms, each furnished with adjustable beds, TVs, microwaves, small refrigerators, sofas, and dressers. There are two and a half tiled bathrooms, featuring a walk-in tub, a standing shower, and a jetted bathtub. Additional features include a tiled vestibule with seating, wood flooring in the dining area with a table and chairs, a kitchen equipped with a stove and refrigerator, and a conference room with seating. A large tiled laundry room with washer/dryer and extra storage is located in the basement. The property deed grants the right to use an alley for access to the rear of the building. This move-in ready property presents numerous possibilities in a prime downtown location, situated on a 0.05-acre lot. Priced at $560,000.

• CAP approach

  CAP return

  Valuation

  6%

  $645,452

  6.5%

  $595,802

  7%

  $553,245

• Comparable approach

  Method

  Valuation

  Relative Method

  $852,162

  Geo Method

  $450,329

• Alternative Use

  Use

  Valuation

  Residential

  $502,581

  Hospitality

  $460,362

  Educational

  $383,016

  Medical

  $396,188

  Retail

  $595,802

Location Insight

City

Sparta

County

White

State

Tennessee

Latitude

35.9265

Longitude

-85.4643

Property Tax & Assessments

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