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Property profile & analytics
OFF-MARKET
Office Spaces

229 Main Ave Erwin, TN 37650-1141

20,227 SF 175 ac lot Built 1920
Entity Owned 6-yr Hold Free & Clear
Property ID
US80-1092035
Property summary
AI-generated overview

This exceptional 18,736 square foot commercial property, situated on a 0.83-acre lot at 229 S Main Avenue in the heart of Erwin, Tennessee, presents a unique investment opportunity. Originally a historic hotel, this Colonial-style building has undergone significant renovations over the years, most recently being updated for professional office use approximately 20 years ago. The main level boasts an attractive lobby with a reception area, multiple private offices, work cubicles, and restrooms. This layout is mirrored on the second floor, which also includes a spacious conference room, ideal for meetings and presentations. A fully finished basement adds further functionality, featuring a dedicated training room, a well-equipped kitchen, and additional restrooms. The building's versatile design allows for a wide range of commercial uses. Its central downtown location provides excellent visibility and accessibility, making it an attractive proposition for businesses seeking a prominent presence in Erwin. The property is zoned B3, offering flexibility for various commercial ventures. This is a rare chance to acquire a substantial, well-maintained commercial building with a rich history and significant potential in a thriving Tennessee town. The asking price is $495,000.

Property profile
Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Year built 1920
Construction WOOD
Total area 20,227 SF
Lot 175 ac (7,623,000 SF)
Zoning code B-3
APN 086023N T 01900
UPID US80-1092035
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Plastiexports Newco INC · 6 yrs held
Plastiexports Newco INC
since 2020
Last sale
$175,000
4 recorded transactions
2020
$175,000
2020
Price N/A
2007
Price N/A
1998
$150,000
Zoning & alternative use
B-3 · Erwin, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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