Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    McKenzie Commercial Property For Sale Title is generated by Realmo AI

    242 Magnolia Ave., Mc Kenzie, TN 38201

    View on Map
    Claim this Listing
    For Sale
    $524,999

    COMMERCIAL - MCKENZIE, TN

    Property size:
    11,248 SF
    Price / SF:
    $46/SF
    Added:
    Mar 19, 2024
    Days on Market:
    799
    Last Refresh:
    May 26 at 10:06 pm

    Property Features for 242 Magnolia Ave.

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    010.00
    Size
    11,248 SF

    Taxes and HOA fees

    Tax Annual Amount
    2734

    Building Details

    Year built
    1941

    We can help!

    Listing Contact
    Alex Bynum
    Alex Bynum

    Listing agent Alex Bynum License #223589

    Listing office Wendell Alexander Realty P.O. Box 872, Dresden, TN

    Listing date Mar 19, 2024

    MLS# 131315

    Copyright © 2026 Tennessee Valley 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.

    HighLights

    • Expansive commercial property featuring 24 bedrooms and 18 bathrooms.
    • Includes a commercial kitchen, dining hall, and banquet room.
    • Strategic location in McKenzie, Tennessee.
    • Offers immense potential for investors, entrepreneurs, or organizations.
    • Features a common area.
    • Built in 1941.

    Overview

    Located in McKenzie, Tennessee, this commercial property offers a substantial 11,248 square feet of space. The property features 24 bedrooms and 18 bathrooms, along with a commercial kitchen, dining hall, banquet room, and common areas. This property presents opportunities for investors, entrepreneurs, or organizations seeking a location with room for expansion.
    Property Profile Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Mc Kenzie
    County
    Carroll
    State
    Tennessee
    Longitude
    -88.52042
    Latitude
    36.135937

    Nearby Similar for Sale

    • $589,000
      3,448 SF

      Amish-Built Home on Expansive Acreage

      Charming country living with farm infrastructure and rental income potential.
      8017 Hwy 124, MCKENZIE, TN 38201
      View Details
    • $235,000
      1,891 SF

      Commercial Building in McKenzie, TN

      Spacious commercial building featuring multiple exam rooms and waiting areas.
      132 Hospital Drive, McKenzie, TN 38201
      View Details
    • $399,000
      5,555 SF

      Retail Office Space For Sale

      5500 Sq Ft retail office space in McKenzie, TN.
      1907 Cedar Street, MCKENZIE, TN 38201
      View Details
    • $275,000
      5,038 SF

      Commercial Building in McKenzie, TN

      5,038 SF commercial building with multiple bays and loading docks.
      15145 Highland Drive, MCKENZIE, TN 38201
      View Details
    • $257,900
      1,440 SF

      Rustic Log Home on Acres

      3-bedroom log home with shop on 6.5 acres.
      1740 Highway 436, MCKENZIE, TN 38201
      View Details
    • $399,900
      3,344 SF

      Farm with 1922 Farmhouse

      46.7 acre farm with rental house near McKenzie.
      95 Old McKenzie Rd, MCKENZIE, TN 38201
      View Details
    • $295,000

      McKenzie, TN Commercial Land

      Two-acre commercial land with highway frontage in McKenzie, Tennessee.
      Highway 22, McKenzie, TN 38201
      View Details
    • $295,000

      McKenzie, TN Commercial Land

      2-acre commercial land with highway frontage in McKenzie, TN.
      Highway 22, McKenzie, TN 38201
      View Details
    • $235,000
      1,891 SF

      Commercial Building in McKenzie, TN

      Spacious commercial building featuring multiple exam rooms and waiting areas.
      132 Hospital Drive, MCKENZIE, TN 38201
      View Details
    • $219,900
      2,139 SF

      Downtown McKenzie Retail/Office Space

      Versatile retail or office space in downtown McKenzie.
      2356 Cedar Street, MCKENZIE, TN 38201
      View Details
    • $60,000

      Versatile Commercial Property in McKenzie

      High-visibility commercial property with three bays, ideal for various uses.
      215 Main Street, McKenzie, TN 38201
      View Details
    • $99,900
      2,232 SF

      Downtown McKenzie Retail Space Available

      2200 sq ft retail space in downtown McKenzie, Tennessee.
      2336 Cedar St, MCKENZIE, TN 38201
      View Details

    FAQs

    What type of property is this?
    Specialty property - Large commercial property in McKenzie, Tennessee with many potential uses.
    Where is this specialty property located?
    The property is located at 242 Magnolia Ave. Mc Kenzie, TN.
    What is the asking price?
    The asking price for this property is $524,999.
    What are key features of this property?
    This property features: Expansive commercial property featuring **24 bedrooms and 18 bathrooms**.; Includes a **commercial kitchen, dining hall, and banquet room**.; Strategic location in McKenzie, Tennessee.
    (731) 819-6002
    We can help!
    Listing Contact
    Alex Bynum
    Alex Bynum
    Real Estate License ID: 223589
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    242 Magnolia Ave., MCKENZIE, TN 38201
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!