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    2 Park St Athens, TN 37303

    View on Map
    Sponsored
    For Sale
    $1,200,000

    COMMERCIAL - Athens, TN

    Property size:
    9,402 SF
    Lot size:
    0.47 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 14 at 10:06 am

    Property Features for 2 Park St

    General Information

    Special listing conditions
    In Foreclosure, Real Estate Owned
    Property type
    Commercial Sale
    Property subtype
    Other
    TransactionType
    In Foreclosure, Real Estate Owned
    Standard status
    Active
    Zoning
    Commercial
    APN
    056m C 061.00
    Parking
    16
    Parking features
    Parking Lot
    Interior features
    High Ceilings
    Exterior features
    Rain Gutters
    Appliances
    Refrigerator
    Size
    9,402 SF
    Lot size
    0.47 Acres

    Utilities

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

    Building Details

    Year built
    1967
    Flooring type
    Tile, Laminate
    Building materials
    Brick
    Roof type
    Shingle

    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 14, 2026

    MLS# 20261297

    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

    Three-Story Commercial Building in Athens

    Located in Athens, TN, this 9,402 square foot three-story commercial building is situated on 0.47 acres. Constructed in 1967, the brick building offers a flexible layout suitable for office, medical, educational, or adaptive commercial use. The main level features a lobby area with teller counters, private offices, and conference rooms. The upper floor consists primarily of administrative offices with an open balcony overlooking the lobby. The lower level provides additional storage, kitchen, and support space, including a break area. The property includes a drive-thru ATM lane and surface parking. Zoned B2 - General Business and B3 - Intensive Business District, the property is located within an established downtown commercial corridor, offering strong visibility and accessibility along Park Street. The layout and existing infrastructure provide an opportunity for an owner-user or investor seeking a centrally located commercial asset. Note that a recorded deed restriction prohibits 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 ATM (BB&T) Atm

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop 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
    -84.592835
    Latitude
    35.440198

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    FAQs

    What type of property is this?
    Office building - 9,402 SF commercial building suitable for office or retail.
    Where is this office building located?
    The property is located at 2 Park St Athens, TN.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: - 9,402 SF three-story brick commercial building in a central location.; - Located within an established downtown commercial corridor with strong visibility and accessibility.; - Flexible layout suitable for office, medical, educational, or adaptive commercial use.
    (423) 595-8231
    Request Owner's contact information
    2 Park St 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
    2 Park St 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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