250 Taft DrSpencer, TN 38585

Property Details for 250 Taft Dr

Year built

2023

Construction

FRAME

Lot size

1.25 AC

Property size (Sq ft)

10,662 SF

Property type

Retail properties

Property subtype

Retail space

APN

088030B B 00100

APU

088030BB00100

Description

This exceptional investment opportunity presents a brand-new, 10,500 square foot retail storefront in Spencer, Tennessee, occupied by a Dollar Tree and Family Dollar combo store. The property boasts a fee simple ownership structure with a new 10-year net lease, commencing April 17, 2023, and featuring a corporate guarantee for added security. The lease includes scheduled rent bumps of $0.50 per square foot annually at the beginning of each five-year option period, providing consistent income growth. The property's strong financial performance is reflected in a 7.30% cap rate and a net operating income (NOI) of $123,375. Located on 1.25 acres at 250 Taft Dr, Spencer, TN 38585, this strategically positioned property benefits from high visibility along State Highway 111, experiencing 5,500 vehicles per day. The ample parking (2.57 spaces per 1,000 sq ft) caters to customer convenience. The building, constructed in 2023, is zoned C-2 and features a single unit. The property's location near Van Buren County High School contributes to a strong local demographic. This is a rare opportunity to acquire a stable, high-performing retail investment with a long-term lease and significant upside potential. The asking price is $1,690,000, translating to $160.95 per square foot. Five (5-year) lease options further enhance the long-term value and security of this investment. The property's APN is 088030B B 00100.

• CAP approach

  CAP return

  Valuation

  6%

  $3,314,938

  6.5%

  $3,059,942

  7%

  $2,841,375

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,376,567

  Geo Method

  $5,240,919

• Alternative Use

  Use

  Valuation

  Residential

  $2,581,176

  Hospitality

  $2,364,343

  Educational

  $1,967,106

  Medical

  $2,034,758

  Retail

  $3,059,942

Location Insight

City

Spencer

County

Van Buren

State

Tennessee

Latitude

35.7501

Longitude

-85.4579

Property Tax & Assessments

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