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    The Largest CRE Database in the US with Over 1 Million Listings

    1040 Martin Creek Rd Erwin, TN 37650

    Sponsored
    For Sale
    $450,000

    COMMERCIAL - Erwin, TN

    Property size:
    3,200 SF
    Lot size:
    0.72 Acres
    Days on Market:
    3
    Last Refresh:
    Feb 11 at 4:06 pm

    Property Features for 1040 Martin Creek Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    031f E 004.26
    Size
    3,200 SF
    Lot size
    0.72 Acres

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Heat Pump (Heating), Oil
    Cooling system
    Heat Pump, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    2008
    Building materials
    Metal Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Wendy Brock

    Hurd Realty (423) 491-8335

    Listing agent Wendy Brock (423) 631-1122 License #338220

    Listing date Feb 9, 2026

    MLS# 9990993

    Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Turnkey Automotive Shop in Erwin

    This automotive shop is located in Erwin, Tennessee, and occupies a 0.72-acre lot. The property includes approximately 3,200 square feet of shop space, complemented by an 1,800-square-foot basement pit area. The building features a bay equipped with an oil change pit and a 12' x 14' overhead door suitable for accommodating most commercial vehicles. Two additional bays are equipped with 12' x 12' overhead doors, one of which includes an 11,000-lb two-post direct-drive lift. A fourth bay features a 10' x 10' door. The property provides ample space for tool and storage needs, including a storage loft, a customer waiting area, a private office, and two restrooms. The shop area is heated by a CleanBurn recovered oil heater, while the office, restrooms, and waiting area are serviced by a heat pump HVAC system. Compressed air is available throughout the shop. Additional equipment includes a wall-mounted strut spring compressor, hydraulic hose-making equipment, and bulk oil storage tanks with pumps. The lot provides ample customer parking. All equipment necessary to operate an oil change business is included, making this a turnkey opportunity for automotive service operations.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Erwin Express Auto Repair Shop

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Nail Salon Auto Repair Shop Gym & Fitness Center Hotel & Motel Bar & Pub Daycare Center Barber Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Erwin
    County
    Unicoi
    State
    Tennessee
    Longitude
    -82.409171
    Latitude
    36.129602

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    FAQs

    What type of property is this?
    Automotive property - Well-equipped auto shop on 0.72 acres, ready for operation.
    Where is this automotive property located?
    The property is located at 1040 Martin Creek Rd Erwin, TN.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: - Turnkey automotive shop with all equipment for oil change business included.; - Approximately 3,200 sq ft of shop space plus 1,800 sq ft basement pit area on 0.72 acres.; - Multiple bays with overhead doors, including one with an **11,000-lb two-post lift.**
    (423) 631-1122
    Request Owner's contact information
    1040 Martin Creek Rd Erwin, TN 37650
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    Erwin, TN 37650
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1040 Martin Creek Rd Erwin, TN 37650
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    We can help!
    Listing Contact
    Wendy Brock
    Real Estate License ID: 338220
    (423) 631-1122
    Learn more
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