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    455 E Main St Parsons, TN 38363

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    For Sale
    Contact for pricing

    Spacious commercial building with retail and warehouse space available.

    Type:Industrial, Mixed Use, Retail
    Property size:
    15,760 SF
    Lot size:
    1.00 Acre
    Added:
    Sep 23, 2024
    Days on Market:
    563
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 455 E Main St

    General Information

    Standard status
    Active
    Size
    15,760 SF
    Lot size
    1.00 Acre
    Property subtype
    Industrial, Mixed Use, Retail

    Building Details

    Year Built
    2007

    We can help!

    Listing Contact
    Anne Spence-McGee

    Listing agent Anne Spence-McGee License #TN 260346

    Listing office Crye-Leike Tapestry Realty LLC

    Listing date Sep 23, 2024

    Source Crexi

    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 Crye-Leike Tapestry Realty LLC

    Overview

    Large Commercial Building on Highway

    This large commercial building is located within Parsons city limits, situated on a corner lot of one acre. The property features 459 feet of frontage, with 156 feet along Highway 412E/East Main St and 303 feet on Peavahouse Blvd. The building encompasses over 15,000 square feet under roof, including approximately 3,500 square feet of heated and cooled space, and 2,400 square feet of heated warehouse space, with the remainder being unheated warehouse space. The property includes one loading dock and two ground-level roll-up doors. The building is currently operating as a floor covering retail and installation business. Potential uses for the property include retail, service, restaurant, or venue space. The pole barn portion of the building could be removed to create additional parking or renovated for rentals. The property is located 5 miles from the Tennessee River, 15 miles from I-40, and between Memphis and Nashville.
    Location Intelligence

    Current Use by Public Records

    Floor Center Carpet & Flooring Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Parsons
    County
    Decatur
    State
    Tennessee
    Longitude
    -88.119125
    Latitude
    35.651264

    Nearby Similar for Sale

    • $1,500,000
      7,140 SF

      Turnkey Grocery Store Opportunity

      Established grocery store for sale in Parsons, Tennessee.
      1182 E Main Street, Parsons, TN 38363
      View Details
    • $1,500,000
      7,140 SF

      Turnkey Grocery Store Opportunity

      Established grocery store for sale with a long-standing reputation.
      1182 E Main Street, Parsons, TN 38363
      View Details
    • $798,500
      15,760 SF

      Highway Frontage Commercial Building

      Large commercial building on a corner lot with highway frontage.
      455 E Main Street, Parsons, TN 38363
      View Details
    • $125,000

      Land For Sale, Parsons, TN

      Land available in Parsons, Tennessee.
      Poplar Ridge, Parsons, TN 38363
      View Details

    FAQs

    What type of property is this?
    Retail space - Spacious commercial building with retail and warehouse space available.
    Where is this retail space located?
    The property is located at 455 E Main St Parsons, TN.
    What is the asking price?
    The asking price for this property is $798,500.
    What are key features of this property?
    This property features: High‑traffic location: **Corner lot with 459' frontage on Highway 412E/East Main St and Peavahouse Blvd.**; **Large building: 15,000+ sq ft under roof** with heated/cooled showroom and warehouse space.; Versatile usage: Suitable for retail, service, restaurant, venue, or rentals with potential for renovation or expansion.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Anne Spence-McGee
    Real Estate License ID: TN 260346
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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.

    More about this property
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