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    21980 Rhea County Highway Spring City, TN 37381

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    Claim this Listing
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    For Sale
    $250,000

    COMMERCIAL - Spring City, TN

    Property size:
    1,188 SF
    Lot size:
    0.48 Acres
    Added:
    Apr 15, 2026
    Days on Market:
    4
    Last Refresh:
    Apr 18 at 12:06 am

    Property Features for 21980 Rhea County Highway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Parking features
    Parking Lot
    Interior features
    High Speed Internet
    Standard status
    Active
    APN
    031p C 00800 000
    Size
    1,188 SF
    Lot size
    0.48 Acres

    Taxes and HOA fees

    Tax Annual Amount
    897

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Central
    Water source
    Public

    Building Details

    Year built
    1953
    Flooring type
    Concrete
    Building materials
    Block

    We can help!

    Listing Contact
    Jillian Stavely
    Jillian Stavely

    Listing agent Jillian Stavely License #356929

    Listing office Wallace Real Estate-TN Valley 1377 Market St, Dayton, TN

    Listing date Apr 15, 2026

    MLS# 20262004

    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

    Spring City Commercial Opportunity

    This commercial property in Spring City, TN, offers versatile space with ample parking. Currently configured as office space, it includes a two-bay garage equipped with a functional lift, grease gun, and hoses. The tin roof was sealed and replaced in 2025. The office area is cooled by a mini-split system installed in 2024, which is still under warranty. Natural gas provides heat throughout the building, including the two external restrooms. Fiber internet is installed. The owner has made numerous updates while preserving the original character of the building. This property presents various business possibilities, including restoring it as a gas station or mechanic garage, or converting it into an ice cream stand or restaurant. The property is situated on a 0.48-acre lot and the building size is 1,188 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Anchor Communications Construction Company

    Suggested Use

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

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

    Similar Places Nearby

    • Douglas Automotive & Diesel — 23688 Rhea County Hwy, Spring City, TN 37381
    • Brakes and More — 330 Hilleary St, Spring City, TN 37381
    • Spring City Services Center — 210 ellis st, spring city, tn 37381
    • Harrison's Garage — 547 front st, spring city, tn 37381

    Location Insight

    • Map
    • Local Demand
    City
    Spring City
    County
    Rhea
    State
    Tennessee
    Longitude
    -84.866387
    Latitude
    35.684727

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    FAQs

    What type of property is this?
    Auto shop - Commercial property with office space and a two-bay garage.
    Where is this auto shop located?
    The property is located at 21980 Rhea County Highway Spring City, TN.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: Two‑bay garage with functional lift, grease gun, and hoses.; Fantastic parking.; Tin roof sealed and replaced in 2025.
    (423) 883-3570
    We can help!
    Listing Contact
    Jillian Stavely
    Jillian Stavely
    Real Estate License ID: 356929
    Learn More
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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
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