Mixed-Use Property with New
For Sale
$499,900
512 North Roane Street, Harriman, TN 37748
Brick-and-block building combines a hair salon with efficiency residential space.
Property Size4,144 SF
Price / SF$120.63
Days on Market645
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Property Features for 512 North Roane Street
General Information
Standard status
Active
Size
4,144 SF
Property subtype
Multi-Family
Net Operating Income
$55,554
Additional Details
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$1,882
Amenities
Central Cooling
Yes
Laminate, Carpet, Vinyl
True
Central, Electric
Brick, Block
Building Details
Year Built
1960
Tenancy
Multi
Listing Agency:
Southland Brokers
Listed By:
Raj Cheema
(865) 466-7240
Source:
Compass
Added: Jan 8, 2025
Changed: Oct 13
Last Checked: Oct 15 at 1:42AM
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 Southland Brokers
Investment Insights
Based on property information with market context.
This mixed-use building at 512 North Roane Street combines a commercial storefront with efficiency residential accommodations. The commercial space is currently operating as a hair salon, while interior finishes include laminate, carpet, and vinyl. Brick and block construction supports the building’s established physical character, and a new roof was completed at the end of 2024.
Located in downtown Harriman, Tennessee, the property measures 4,144 square feet and was built in 1960. Water service is paid by the landlord, while tenants are responsible for their own electric service. The combination of commercial and residential components creates a single property with multiple occupancy types.
Located in downtown Harriman, Tennessee, the property measures 4,144 square feet and was built in 1960. Water service is paid by the landlord, while tenants are responsible for their own electric service. The combination of commercial and residential components creates a single property with multiple occupancy types.
Key Highlights
- 4,144‑square‑foot mixed‑use property at 512 North Roane Street
- Commercial space currently operating as a hair salon
- Efficiency residential accommodations included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,252
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$905,040
$905.0K
Cap Rate 7%
$646,457
$646.5K
Cap Rate 9%
$502,800
$502.8K
Market Conditions
NOI Build-Up for 4,144 SF
Gross rent
$79.6K $19.20/SF
− Vacancy
−$7.2K −$1.73/SF
EGI
$72.4K $17.47/SF
− OpEx
−$27.2K −$6.55/SF
NOI
$45.3K $10.92/SF
Area
Roane County, TN
Vacancy
9.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$905,040
Cap Rate 7%
$646,457
Cap Rate 9%
$502,800
Alternative Uses
Best Use
Retail
$850.3K
$744.1K – $992.1K
NOI $59,524 @ 7.0% cap · market cap 11.91%
Second Best
Mixed Use
$646.5K
$565.7K – $754.2K
NOI $45,252 @ 7.0% cap · market cap 9.05%
Theoretical Best
Office A
$1.03M
$898.1K – $1.20M
NOI $71,847 @ 7.0% cap · market cap 14.37%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
7
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Explore this area
Business Placement
Demographics for 37748, TN
17,227
Population
8,208
Households
2.1
Avg Household Size
45
Median Age
20%
College-Educated
87%
High-School Grad
106.6 sq mi
ZIP Area
162
Density / Sq Mi
$58,649
Median Household Income
$40,155
Median Earnings
$760
Median Rent
$173,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick-and-block building combines a hair salon with efficiency residential space.
Where is this mixed-use property located?
The property is located at 512 North Roane Street Harriman, TN.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 4,144‑square‑foot mixed‑use property at 512 North Roane Street; Commercial space currently operating as a hair salon; Efficiency residential accommodations included
