Historic Restaurant
1704 Tennessee 138 Mercer, TN 38392
1704 Tennessee 138, Mercer, TN, 38392
$340,000
For Sale
$340,000
COMMERCIAL - Mercer, TN
Property Size4,000 SF
Price / SF$85
Days on Market39
Property Features for 1704 Tennessee 138
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Parking
- 25
- Standard status
- Active
- APN
- 138O B 028.00
- Size
- 4,000 SF
Taxes and HOA fees
- Tax Annual Amount
- 471
Utilities
- Sewer type
- Septic Tank
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Flooring type
- Vinyl
- Building materials
- Brick
- Roof type
- Rubber
Listing Agency
RE/MAX Realty Source
(731) 668-7500
200 B. Stonebridge Blvd., Jackson, TN
Listed by
Jodie Parrish · License #262502
(731) 343-2121
Added: Jun 9 Checked: Jul 17 at 6:06 pm
MLS# 2602686
Listing URL
Copyright © 2026 Central West Tennessee 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.
Investment Insights
Based on property information with market context.
A historic commercial building offered for sale featuring approximately 4,000 square feet and described as being in excellent condition. The property comes fully furnished for restaurant startup, providing an immediately usable setup for a foodservice concept.
The building is located at 1704 Tennessee 138 in Mercer, TN (Madison County). The upstairs area is described as having flexibility, with the potential to be used as apartments or for short-term lodging such as an Air BnB-style setup.
The building is located at 1704 Tennessee 138 in Mercer, TN (Madison County). The upstairs area is described as having flexibility, with the potential to be used as apartments or for short-term lodging such as an Air BnB-style setup.
Key Highlights
- Historic 4,000 SF building (brick construction) built in 1920
- Fully furnished and set up for restaurant startup
- Central heating and central air
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.3k | $10.08 |
| − Vacancy | −$2.7k | −$0.69 |
| EGI | $37.6k | $9.39 |
| − OpEx | −$16.9k | −$4.23 |
| NOI | $20.7k | $5.17 |
4,000 SF · lease $10.08/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Specialty Retail
$750.6K
$656.8K – $875.7K
NOI $52,542 @ 7.0% cap · market cap 15.45%
Second Best
Apartment 5plus
$295.3K
$258.4K – $344.5K
NOI $20,668 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$823.7K
$720.7K – $961.0K
NOI $57,658 @ 7.0% cap · market cap 16.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Conventional restaurants
FAQs
What type of property is this?
Conventional restaurant - Historic building in excellent condition, fully furnished for restaurant startup, with upstairs space that could support additional lodging.
Where is this conventional restaurant located?
The property is located at 1704 Tennessee 138 Mercer, TN.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Historic 4,000 SF building (brick construction) built in 1920; Fully furnished and set up for restaurant startup; Central heating and central air
