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    The Largest CRE Database in the US with Over 1 Million Listings

    3251 Main St Pikeville, TN 37367

    Sponsored
    For Sale
    $650,000

    MULTI_FAMILY - Pikeville, TN

    Property size:
    2,200 SF
    Lot size:
    0.44 Acres
    Days on Market:
    57
    Last Refresh:
    Jan 31 at 11:06 am

    Property Features for 3251 Main St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Spa
    1
    Window features
    Vinyl Frames, Storm Window(s)
    Rooms
    Bedroom 1, Bedroom 7, Bedroom 3, Bedroom 6, Bedroom 4, Bedroom 5, Bedroom 2
    Bedrooms
    7
    APN
    0651 B 006.00
    Parking features
    On Street, Off Street, Parking Lot, Garage
    Patio and Porch features
    Patio, Deck
    Pets allowed
    Size Limit, Number Limit, Cats OK, Dogs OK, Yes
    Interior features
    Breakfast Bar, Ceiling Fan(s), Connected Shared Bathroom, Double Vanity, Eat-in Kitchen, High Ceilings, In-Law Floorplan, Laminate Counters, Open Floorplan, Pantry, Plumbed, Recessed Lighting, Sitting Area, Storage, Tub/shower Combo, Walk-In Closet(s), Wired for Sound
    Exterior features
    Awning(s), Balcony, Courtyard, Private Yard, Rain Gutters, Storage, Uncovered Courtyard
    Fencing
    Gate, Fenced
    Appliances
    Water Softener Owned, Water Purifier Owned, Refrigerator, Microwave, Free-Standing Refrigerator, Free-Standing Range, Free-Standing Electric Range, Exhaust Fan, Electric Water Heater, Electric Cooktop
    Size
    2,200 SF
    Lot size
    0.44 Acres

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central, Ceiling
    Cooling system
    Central Air, Varies by Unit, Multi Units
    Water source
    Public

    Building Details

    Year built
    1970
    Floors in Building
    2
    Number of units
    6
    Flooring type
    Concrete, Simulated wood, Vinyl
    Building materials
    Block, Brick, Vinyl Siding
    Roof type
    Metal
    Additional Structures
    Guest House, Storage

    We can help!

    Listing Contact
    Cynthia Nipper

    Crye*Leike Brown 1st Choice Realty (931) 287-4069

    Listing agent Cynthia Nipper (423) 447-7355 License #353080

    Listing date Dec 6, 2025

    MLS# 1524917 Listing URL

    Copyright © 2026 Greater Chattanooga 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

    Versatile Income Property in Pikeville

    This versatile property, situated in the heart of downtown Pikeville, Tennessee, presents a unique opportunity with six potential income-producing units. The main feature is a spacious 3-bedroom, 2-bath upstairs apartment that overlooks a courtyard and pool area, suitable for personal residence or rental. Additionally, there are three separate 1-bedroom, 1-bath apartments, each ideal for generating rental income. The property also includes an approximately 600 sq ft storefront space, which could serve as a recreation area. A large garage on the backside of the property offers potential as a handyman workspace, storage, or additional rental space. The property is located on a 0.44-acre lot. The total property size is 2200 square feet. This property offers exceptional flexibility and value for investors or those seeking a place to live while generating income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Pikeville
    County
    Bledsoe
    State
    Tennessee
    Longitude
    -85.189374
    Latitude
    35.607416

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    FAQs

    What type of property is this?
    Mixed-use property - Six potential income-producing units in a prime downtown location.
    Where is this mixed-use property located?
    The property is located at 3251 Main St Pikeville, TN.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Six potential income-producing units in one property; - Spacious 3-bedroom, 2-bath upstairs apartment, suitable for residence or rental; - Three separate 1-bedroom, 1-bath apartments for steady rental income
    (423) 762-6370
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    Pikeville, TN 37367
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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
    3251 Main St Pikeville, TN 37367
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    We can help!
    Listing Contact
    Cynthia Nipper
    Real Estate License ID: 353080
    (423) 762-6370
    Learn more
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