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    1612 Congress Pkwy S Athens, TN 37303

    View on Map
    Sponsored
    For Sale
    $2,900,000

    COMMERCIAL - Athens, TN

    Property size:
    112,529 SF
    Lot size:
    4.70 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 13 at 3:06 am

    Property Features for 1612 Congress Pkwy S

    General Information

    Special listing conditions
    Real Estate Owned, In Foreclosure
    Property type
    Commercial Sale
    Property subtype
    Other
    TransactionType
    Real Estate Owned, In Foreclosure
    Standard status
    Active
    Zoning
    Commercial
    APN
    056i-A-004.00
    Size
    112,529 SF
    Lot size
    4.70 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1970
    Flooring type
    Tile, Concrete
    Building materials
    Aluminum Siding

    We can help!

    Listing Contact
    Kimberly Ledford

    Ellis Ledford Properties (423) 716-3761

    Listing agent Kimberly Ledford (423) 595-8231 License #291432

    Listing date Mar 12, 2026

    MLS# 20261237

    Copyright © 2026 River Counties 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.

    Learn more

    Property Insight Report

    Overview

    98,529 SF Mixed-Use Commercial Property

    This mixed-use commercial property, located along Congress Parkway South in Athens, TN, offers approximately 98,529 square feet of space and high visibility with traffic counts exceeding 15,000 vehicles per day. Situated on 4.70 acres across two parcels, the property is zoned B-3 Intensive Business District, accommodating a wide range of commercial uses. The property features a two-building configuration with approximately 31,553 square feet of office/retail space (approximately 32%) and approximately 66,976 square feet of warehouse space (approximately 68%), plus an additional approximately 14,000 square feet of upper-level storage. Constructed in 1970, the concrete buildings include 18 dock-high doors (9 per building), 2 grade-level doors, and clear heights ranging from 14 to 28 feet. There are 89 surface parking spaces available. The land-to-building ratio is 2.1:1. The office/retail portion is currently configured as a bank branch with supporting offices, conference rooms, and storage areas, making it suitable for medical, educational, or professional users. The warehouse component offers substantial dock access and functional industrial space ideal for distribution, storage/flex space, or adaptive reuse. The property is designed in a multi-tenant configuration, providing flexibility for an owner-user, investor, or redevelopment opportunity. The seller anticipates relocating operations around July 20 and will require access to the premises through August 15 to remove remaining equipment, records, and operational materials. The property will be conveyed subject to a deed restriction prohibiting future use as a bank, credit union, or other financial lending institution.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Simmons Bank Bank

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Athens
    County
    McMinn
    State
    Tennessee
    Longitude
    -84.62692
    Latitude
    35.448807

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    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use commercial property with office, retail, and warehouse space.
    Where is this mixed-use property located?
    The property is located at 1612 Congress Pkwy S Athens, TN.
    What is the asking price?
    The asking price for this property is $2,900,000.
    What are key features of this property?
    This property features: - 98,529 SF mixed-use commercial property offering scale, flexibility, and visibility.; - Located on Congress Parkway South with 1050 feet of frontage and high traffic counts (15,000+ vehicles per day).; - Zoned B-3 Intensive Business District, allowing for a wide range of commercial uses.
    (423) 595-8231
    Request Owner's contact information
    1612 Congress Pkwy S Athens, TN 37303
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    Athens, TN 37303
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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
    1612 Congress Pkwy S Athens, TN 37303
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    We can help!
    Listing Contact
    Kimberly Ledford
    Real Estate License ID: 291432
    (423) 595-8231 (423) 476-7300
    Learn more
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