Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    206-216 E Madison Avenue Athens, TN 37303

    View on Map
    For Sale
    $499,000

    COMMERCIAL - Athens, TN

    Property size:
    7,308 SF
    Lot size:
    0.20 Acres
    Added:
    Feb 17, 2026
    Days on Market:
    43
    Last Refresh:
    Apr 1 at 11:06 am

    Property Features for 206-216 E Madison Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Parking features
    Parking Lot
    Interior features
    Storage, High Speed Internet
    Appliances
    Electric Water Heater
    Standard status
    Active
    APN
    056m D 061.00
    Size
    7,308 SF
    Lot size
    0.20 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    1463

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Electric (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1986
    Flooring type
    Tile, Concrete
    Building materials
    Brick
    Roof type
    Flat
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Theba Hamilton
    Theba Hamilton

    Listing agent Theba Hamilton License #315576

    Listing office Crye-Leike REALTORS - Athens 580 S Congress Pkwy., TN

    Listing date Feb 17, 2026

    MLS# 20260784

    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.

    Overview

    Multi-Unit Building in Athens, TN

    Located in the heart of Athens, TN, this all-brick multi-unit building presents income opportunities. The property, with a size of 7308 square feet, is situated on a 0.2-acre lot. Each unit is currently rented month to month with long-term renters. This commercial property is suitable for those looking to purchase an income-producing property or start a new venture.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Athens
    County
    McMinn
    State
    Tennessee
    Longitude
    -84.591281
    Latitude
    35.443047

    Nearby Similar for Sale

    • $394,000
      3,067 SF

      Historic Mixed-Use Building in Athens

      Spacious 1930s building in downtown Athens, Tennessee.
      203 W Washington Avenue, Athens, TN 37303
      View Details
    • $1,200,000
      9,402 SF

      Three-Story Commercial Building in Athens

      9,402 SF commercial building suitable for office or retail.
      2 Park Street, Athens, TN 37303
      View Details
    • $2,900,000
      112,529 SF

      98,529 SF Mixed-Use Commercial Property

      Mixed-use commercial property with office, retail, and warehouse space.
      1612 Congress Parkway S, Athens, TN 37303
      View Details
    • $188,000
      5,311 SF

      Downtown Commercial Building - Athens, TN

      Versatile commercial building in the heart of downtown Athens, TN.
      316 N White Street, Athens, TN 37303
      View Details
    • $715,000
      9,600 SF

      Athens Retail Property For Sale

      Retail property with multiple units in a high-traffic area.
      702 S White Street, Athens, TN 37303
      View Details
    • $159,500
      1,500 SF

      Athens Commercial Building For Sale

      1500 SF multi-use building with road frontage and utilities.
      2405 Clearwater Road, Athens, TN 37303
      View Details
    • $215,400
      1,896 SF

      Remodeled Commercial Space in Athens

      Move-in ready commercial building near TWU campus with modern upgrades.
      314 N White Street, Athens, TN 37303
      View Details
    • $314,900
      2,049 SF

      Remodeled Duplex in Athens, TN

      Completely remodeled duplex near shopping, medical offices, and schools.
      104 Pine Street, Athens, TN 37303
      View Details
    • $167,000
      1,760 SF

      Versatile Commercial Building in Athens

      1,760 SF commercial building suitable for diverse uses.
      1027 Moore Street, Athens, TN 37303
      View Details
    • $299,000
      1,692 SF

      Bank Branch with Drive-Thrus

      Commercial property featuring a bank branch with multiple drive-thrus.
      1 Park Street, Athens, TN 37303
      View Details
    • $349,000
      2,048 SF

      Well-Maintained Duplex in Athens, TN

      Duplex with two units, each featuring 2 bedrooms and 1.5 baths.
      153/155 Oak Street, Athens, TN 37303
      View Details
    • $349,000
      2,048 SF

      Well-Maintained Duplex in Athens, TN

      Duplex with two units, each featuring 2 bedrooms and 2 bathrooms.
      147/149 Oak Street, Athens, TN 37303
      View Details

    FAQs

    What type of property is this?
    Multifamily property - All brick multi-unit building with income opportunities in Athens.
    Where is this multifamily property located?
    The property is located at 206-216 E Madison Avenue Athens, TN.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: Excellent location in the heart of Athens, TN.; All brick multi‑unit building.; Currently income producing with long‑term renters.
    (423) 240-8540
    We can help!
    Listing Contact
    Theba Hamilton
    Theba Hamilton
    Real Estate License ID: 315576
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!