Mixed-Use Building with Retail and
311 S Main St Lake City, TN 37769
311 S Main St, Lake City, TN, 37769
$375,000
For Sale
$375,000
MULTI_FAMILY - Rocky Top, TN
Property Size2,848 SF
Price / SF$131.67
Days on Market276
Property Features for 311 S Main St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Rooms
- Bedroom 1, Bathroom 3, Bathroom 1, Bathroom 2, Bedroom 2
- Parking features
- Carport, Off Street
- Security features
- Security Alarm
- Patio and Porch features
- Porch
- Exterior features
- Windows - Vinyl
- Appliances
- Dryer, Range, Refrigerator, Self Cleaning Oven, Washer
- Standard status
- Active
- APN
- 018D D 012.00
- Size
- 2,848 SF
Taxes and HOA fees
- Tax Annual Amount
- 894
Utilities
- Heating system
- Central, Electric (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 1925
- Number of units
- 3
- Flooring type
- Radiant floors, Vinyl
- Building materials
- Brick, Block
- Roof type
- Rubber
Listing agency
United Real Estate Solutions
(865) 444-2400
Listed by
Chris Wrede
(865) 712-8192
Added: Oct 21, 2025 Updated: Jul 21 at 12:34AM Checked: Jul 23 at 5:06AM
MLS# 1321026
Copyright © 2026 East Tennessee 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.
This fully remodeled mixed-use building offers a main level with approximately 1,700 square feet of commercial space and two upstairs one-bedroom apartments totaling approximately 1,400 square feet. The building was completely remodeled in 2008, with updates including wiring, plumbing, HVAC, windows, and interior finishes. Off-street parking is available in the rear, supporting day-to-day access for tenants and visitors.
Located at 311 S Main St in Rocky Top, the property sits in a highly visible, downtown setting. The listing notes the building is zoned commercial.
With commercial space below and residential units above, the layout supports multiple occupancy options within one address. It also offers the flexibility of either renting the apartments while operating the commercial component, or pursuing an owner-occupant live-work arrangement.
Located at 311 S Main St in Rocky Top, the property sits in a highly visible, downtown setting. The listing notes the building is zoned commercial.
With commercial space below and residential units above, the layout supports multiple occupancy options within one address. It also offers the flexibility of either renting the apartments while operating the commercial component, or pursuing an owner-occupant live-work arrangement.
Key Highlights
- Completely remodeled mixed‑use building (2008) with updates to wiring, plumbing, HVAC, windows, and finishes throughout
- Main level offers 1,700 SF of commercial space for retail, office, or professional use
- Upstairs includes two 1‑bedroom apartments totaling 1,400 SF
Local Financial Insights For Mixed Use
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 | $54.7k | $19.20 |
| − Vacancy | −$4.9k | −$1.73 |
| EGI | $49.8k | $17.47 |
| − OpEx | −$18.7k | −$6.55 |
| NOI | $31.1k | $10.92 |
2,848 SF · lease $19.20/SF/yr · vacancy 9.00% · expense 37.50%
Alternative Uses
Best Use
Retail
$584.4K
$511.4K – $681.8K
NOI $40,909 @ 7.0% cap · market cap 10.91%
Second Best
Office B
$538.3K
$471.0K – $628.0K
NOI $37,679 @ 7.0% cap · market cap 10.05%
Theoretical Best
Office A
$705.4K
$617.2K – $823.0K
NOI $49,377 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Live-work space
FAQs
What type of property is this?
Mixed-use property - Fully remodeled mixed-use building with commercial space on the main level and two upstairs one-bedroom apartments.
Where is this mixed-use property located?
The property is located at 311 S Main St Lake City, TN.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Completely remodeled mixed‑use building (2008) with updates to wiring, plumbing, HVAC, windows, and finishes throughout; Main level offers 1,700 SF of commercial space for retail, office, or professional use; Upstairs includes two 1‑bedroom apartments totaling 1,400 SF
