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    138 College St Spencer, TN 38585

    For Sale
    $179,000

    COMMERCIAL - Spencer, TN

    Property size:
    1,600 SF
    Lot size:
    0.06 Acres
    Days on Market:
    12
    Last Refresh:
    Dec 13 at 11:06 pm

    Property Features for 138 College St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    C1
    APN
    030I A 004.00
    Parking features
    On Street
    Basement
    Crawl Space
    Accessibility
    Accessible Approach with Ramp
    Size
    1,600 SF
    Lot size
    0.06 Acres

    Utilities

    Utilities
    Natural Gas Available
    Water source
    Public

    Building Details

    Year built
    1958
    Floors in Building
    2
    Number of units
    7
    Building materials
    Frame, Block, Brick
    Roof type
    Metal

    Highlands Elite Real Estate LLC - Baxter (931) 400-8820

    Listing agent Heather Conner (931) 265-1100

    Listing date Dec 2, 2025

    Copyright © 2025 Upper Cumberland Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Versatile Commercial Building in Spencer, TN

    This commercial building, located in the historic town of Spencer, Tennessee, presents a range of potential uses. The property features three distinct entrances and two levels, offering flexibility for various business models. It could serve as an investment property, with the option to live on one side and rent out the other, or as commercial office space for lease. Another potential use is a business center for remote employees needing a meeting place. One section features open office space and a bathroom, while the unfinished upstairs area is divided into five offices, presenting an opportunity for future development. The property is grandfathered in for both short-term and long-term rentals. Reinforcements to the historic building include new piers and a steel beam in the basement, new street-level picture windows, new flooring, paint, and a tile backsplash. The lot size is 0.06 acres. The property has 1600 square feet of space and is zoned C1.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Restaurant Law Firm Spa & Massage Wholesale Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness Pharmacy Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Spencer
    County
    Van Buren
    State
    Tennessee
    Longitude
    -85.4676728
    Latitude
    35.7478019

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    FAQs

    What type of property is this?
    Office space - Commercial building with versatile uses in historic Spencer, Tennessee.
    Where is this office space located?
    The property is located at 138 College St Spencer, TN.
    What is the asking price?
    The asking price for this property is $179,000.
    What are key features of this property?
    This property features: - Grandfathered for both Short-Term Rental (STR) and Long-Term Rental (LTR).; - Versatile commercial building with 3 distinct entrances and 2 levels, offering abundant possibilities.; - Located in the historic town of Spencer, TN, near Fall Creek Falls State Park.
    (931) 265-1100
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    Realmo Value Estimation

    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.

    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.

    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
    138 College St Spencer, TN 38585
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