Mixed-Use Building with Off-Street
For Sale
$375,000
311 S Main St, Lake City, TN 37769
MULTI_FAMILY - Rocky Top, TN
Property Size2,848 SF
Price / SF$131.67
Days on Market288
Property Features for 311 S Main St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Parking features
Off Street, Carport
Security features
Security Alarm
Patio and Porch features
Porch
Exterior features
Windows - Vinyl
Appliances
Dryer, Range, Refrigerator, Self Cleaning Oven, Washer
Subdivision
Hornsby Sub
Directions
GPS
Standard status
Active
APN
018D D 012.00
Size
2,848 SF
Taxes and HOA fees
Tax Annual Amount
894
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Amenities
off-street parking
Building Details
Year built
1925
Number of units
3
Flooring type
Vinyl, Radiant floors
Building materials
Brick, Block
Roof type
Rubber
Listing Agency:
United Real Estate Solutions
(865) 444-2400
Listed By:
Chris Wrede
(865) 712-8192
Added: Oct 21, 2025
Changed: Aug 3
Last Checked: Aug 4 at 11:06PM
MLS# 1321026
Copyright © 2026 East Tennessee Realtors®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully renovated mixed-use building offers a combined live-work and income setup. The main level provides 1,700 square feet of commercial space, while the upper level includes two spacious one-bedroom apartments totaling 1,400 square feet. The entire building was completely remodeled in 2008, with updates including wiring, plumbing, HVAC, windows, and finishes. Construction materials include brick and block, with vinyl windows and a rubber roof. Interior finishes feature vinyl flooring and radiant floors.
The property includes off-street parking in the rear and a carport, along with a porch. Heating is central electric, with central air cooling. The unit appliances listed are a washer, dryer, range, self-cleaning oven, and refrigerator.
Zoned commercial, the building is located at 311 S Main St in Rocky Top, TN (Anderson County).
The property includes off-street parking in the rear and a carport, along with a porch. Heating is central electric, with central air cooling. The unit appliances listed are a washer, dryer, range, self-cleaning oven, and refrigerator.
Zoned commercial, the building is located at 311 S Main St in Rocky Top, TN (Anderson County).
Key Highlights
- Completely remodeled in 2008 with wiring, plumbing, HVAC, windows, and finishes updated
- Main level offers 1,700 SF of commercial space
- Upstairs includes two one‑bedroom apartments totaling 1,400 SF
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.7k | $19.20 |
| − Vacancy | −$4.9k | −$1.73 |
| EGI | $49.8k | $17.47 |
| − OpEx | −$18.7k | −$6.55 |
| NOI | $31.1k | $10.92 |
2,848 SF · lease $19.20/SF/yr · vacancy 9.00% · expense 37.50%
Alternative Uses
Best Use
Retail
$584.4K
$511.4K – $681.8K
NOI $40,909 @ 7.0% cap · market cap 10.91%
Second Best
Office B
$538.3K
$471.0K – $628.0K
NOI $37,679 @ 7.0% cap · market cap 10.05%
Theoretical Best
Office A
$705.4K
$617.2K – $823.0K
NOI $49,377 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
154
Businesses Nearby
Explore this area
Business Placement
Demographics for 37769, TN
5,724
Population
2,855
Households
2
Avg Household Size
44
Median Age
11%
College-Educated
87%
High-School Grad
30.0 sq mi
ZIP Area
191
Density / Sq Mi
$51,691
Median Household Income
$38,417
Median Earnings
$700
Median Rent
$192,600
Median Home Value
Market
Properties on Market for Mixed-use properties in Lake City
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully renovated mixed-use building with main-level commercial space and two upstairs one-bedroom apartments plus off-street parking.
Where is this mixed-use property located?
The property is located at 311 S Main St Lake City, TN.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Completely remodeled in 2008 with wiring, plumbing, HVAC, windows, and finishes updated; Main level offers 1,700 SF of commercial space; Upstairs includes two one‑bedroom apartments totaling 1,400 SF
