Mixed-Use Property in South
307 Elm Ave, South Pittsburg, TN 37380
For Sale
Contact for pricing
Multi-use property with industrial, retail, and residential spaces.
Property Size5,620 SF
Price / SF$103.19
Days on Market234
Property Features for 307 Elm Ave
General Information
Standard status
Size
Class
Property subtype
Zoning
Investment Type
Building Details
Buildings
Stories
Units
Listing Agency:
Better Homes and Gardens Real Estate Signature Brokers
Listed By:
Celeste West-Dobbins · License TN #281506
(423) 503-5949
Source:
Crexi
Added: Mar 22
Changed: Nov 4
Last Checked: Nov 10 at 6:06AM
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 Better Homes and Gardens Real Estate Signature Brokers
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Investment Insights
Based on property information with market context.
This multi-use property is located on Elm Ave in downtown South Pittsburg. The 5,620 square foot property includes industrial, commercial, warehouse, multi-family, retail, and residential income spaces. It features two private garages, a two-bedroom, one-bathroom apartment, and two retail spaces. The apartment has been fully renovated and includes a full kitchen. Two recently installed HVAC units serve the property. The property is within walking distance of the local elementary and high school, post office, the American Legion Hall, City Hall, the Police Station, Lodge Cast Iron Manufacturing, and local restaurants and shops.
Key Highlights
- Multi‑use property: Industrial/Commercial/Warehouse, Multi‑Family (2BR/1BA), and Retail spaces.
- Prime downtown location on Elm Ave in South Pittsburg.
- Two retail spaces facing Elm Ave.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,510
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$990,200
$990.2K
Cap Rate 7%
$707,286
$707.3K
Cap Rate 9%
$550,111
$550.1K
Market Conditions
NOI Build-Up for 5,620 SF
Gross rent
$95.8K $17.04/SF
− Vacancy
−$5.7K −$1.02/SF
EGI
$90.0K $16.02/SF
− OpEx
−$40.5K −$7.21/SF
NOI
$49.5K $8.81/SF
Area
Marion County, TN
Vacancy
6.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$990,200
Cap Rate 7%
$707,286
Cap Rate 9%
$550,111
Alternative Uses
Best Use
Mixed Use
$886.4K
$775.6K – $1.03M
NOI $62,045 @ 7.0% cap · market cap 10.70%
Second Best
Apartment 5plus
$707.3K
$618.9K – $825.2K
NOI $49,510 @ 7.0% cap · market cap 8.54%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,884 @ 7.0% cap · market cap 14.98%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
239
Businesses Nearby
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Business Placement
Demographics for 37380, TN
6,305
Population
2,906
Households
2.2
Avg Household Size
45
Median Age
11%
College-Educated
80%
High-School Grad
126.2 sq mi
ZIP Area
50
Density / Sq Mi
$53,160
Median Household Income
$31,146
Median Earnings
$921
Median Rent
$185,000
Median Home Value
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-use property with industrial, retail, and residential spaces.
Where is this mixed-use property located?
The property is located at 307 Elm Ave South Pittsburg, TN.
What is the asking price?
The asking price for this property is $579,900.
What are key features of this property?
This property features: Multi‑use property: Industrial/Commercial/Warehouse, Multi‑Family (2BR/1BA), and Retail spaces.; Prime downtown location on Elm Ave in South Pittsburg.; Two retail spaces facing Elm Ave.**
