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    Historic Clifton Building in Rogersville Title is generated by Realmo AI

    204 E Main St, Rogersville, TN 37857

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    For Sale
    $339,900

    Iconic, restored building in the heart of Rogersville's historic district.

    Property size:
    3,266 SF
    Price / SF:
    $104/SF
    Added:
    Sep 10, 2024
    Days on Market:
    630
    Last Refresh:
    May 25 at 7:37 pm

    Property Features for 204 E Main St

    General Information

    Standard status
    Active
    Size
    3,266 SF

    We can help!

    Listing Contact
    Stephen Nelson
    Stephen Nelson

    Listing agent Stephen Nelson License #213587

    Listing office Givens Nelson Realty, Inc.

    Listing date Sep 10, 2024

    Source Exprealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Givens Nelson Realty, Inc.

    HighLights

    • Prime location in the heart of the Rogersville Historic business district, one block from the Hawkins County Courthouse.
    • Lovingly restored building with significant historical value, originally built in 1909 as the Clifton Jewelry building.
    • Large 2116 sq ft first floor with kitchenette and restroom, ready for immediate use.
    • Unique historical features, including the original display cabinet on the second floor and the original front door in the basement.
    • Versatile 2116 sq ft unfinished basement with both interior and exterior access.
    • Potential for residential conversion of the 1150 sq ft second floor.

    Overview

    The iconic Clifton Building, located in the historic district of Rogersville, is available for purchase. This property, originally built in 1909 as the Clifton Jewelry building, has been restored. The first floor offers 2116 square feet of space and includes a kitchenette and restroom. The second floor provides 1150 square feet and features the original display cabinet. An unfinished basement with 2116 square feet is accessible from both the outside and inside. The original front door is preserved in the basement. Situated one block east of the Hawkins County Courthouse, the building is in the heart of the Rogersville historic business district. Parking is available in the rear with alley access. A mini park is located to the west, and a mural of Rogersville is painted on the side of the building. The second floor could be converted into a living area. The total property size is 3266 square feet.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

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

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

    Similar Places Nearby

    • Cross Flower Shop — 812 E Main St, Rogersville, TN 37857

    Location Insight

    • Map
    • Local Demand
    City
    Rogersville
    County
    Hawkins
    State
    Tennessee
    Longitude
    -83.004996
    Latitude
    36.407117

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    FAQs

    What type of property is this?
    Storefront property - Iconic, restored building in the heart of Rogersville's historic district.
    Where is this storefront property located?
    The property is located at 204 E Main St Rogersville, TN.
    What is the asking price?
    The asking price for this property is $339,900.
    What are key features of this property?
    This property features: Prime location in the heart of the Rogersville Historic business district, one block from the Hawkins County Courthouse.; Lovingly restored building with significant historical value, originally built in 1909 as the Clifton Jewelry building.; Large 2116 sq ft first floor with kitchenette and restroom, ready for immediate use.
    (423) 358-4660
    We can help!
    Listing Contact
    Stephen Nelson
    Stephen Nelson
    Real Estate License ID: 213587
    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.

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