Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    261 Broadway St Newport, TN 37821
    Property profile & analytics

    261 Broadway St Newport, TN 37821

    View on Map
    • Office Spaces
    • 0.63 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 261 Broadway St

    Lot size
    0.63 lot acres
    Property type
    Office Spaces

    Description

    This exceptional property, located at 261 E Broadway St in Newport, Tennessee, presents a unique redevelopment opportunity. The former all-brick church boasts approximately 50,000 square feet of versatile space, offering endless possibilities for developers and visionaries. Situated in the heart of downtown Newport, this prime location ensures maximum accessibility and visibility, with proximity to local amenities, businesses, and community attractions. The building's historic charm provides a unique foundation for a variety of projects, from luxury apartments and boutique hotels to vibrant cultural hubs or mixed-use developments. The expansive square footage allows for flexible design and utilization, enabling the creation of a truly bespoke development. This property is currently listed at $600,000, significantly below its recent Cocke County tax appraisal of $1,167,000, representing an exceptional investment opportunity. The 0.63-acre lot size offers ample space for development. Newport's growth trajectory makes this a compelling investment, allowing participation in the city's revitalization while capitalizing on a prime downtown location. This is a chance to own a piece of Newport's history and shape its future.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    47029
    State
    Tennessee
    Longitude
    -83.1869
    Latitude
    35.9665

    Comparable in this City

    • Value Estimation by Request
      805 SF

      417 Cosby Hwy

      OFFICE (GENERAL) • 805 SF
      417 Cosby Hwy, Newport, TN 37821-3411
      View Details
    • Value Estimation by Request
      1,486 SF

      110 Hwy 411

      OFFICE (GENERAL) • 1,486 SF
      110 Hwy 411, Newport, TN 37821-7900
      View Details
    • Value Estimation by Request
      520 SF

      Hwy 25-70

      OFFICE (GENERAL) • 520 SF
      Hwy 25-70, Newport, TN 37821
      View Details
    • Value Estimation by Request
      6,958 SF

      219 Broadway

      OFFICE (GENERAL) • 6,958 SF
      219 Broadway, Newport, TN 37821-3103
      View Details
    • Value Estimation by Request
      1,736 SF

      503 Broadway

      OFFICE (GENERAL) • 1,736 SF
      503 Broadway, Newport, TN 37821-2203
      View Details
    • Value Estimation
      $3,720,000
      1,560 SF

      550 Broadway

      OFFICE (GENERAL) • 1,560 SF
      550 Broadway, Newport, TN 37821-3212
      View Details

    Similar Nearby for Sale

    • $419,900
      4,384 SF

      Newport Office Building - High Income Potential

      Cosby Hwy. Office/Warehouse, Multi-Income Streams
      111 Cosby Hwy, Newport, TN 37821
      View Details
    • $595,000
      2,848 SF

      Renovated Commercial Building Near I-40

      Move-in ready, multi-use commercial building suitable for various business ventures.
      1010 Highway 25 70, Newport, TN 37821
      View Details
    • $1,500,000
      10,800 SF

      Distribution Warehouse with Living Quarters

      Distribution warehouse with living quarters and prime road frontage.
      868 Hwy W, Newport, TN 37821
      View Details
    • $1,500,000
      12,660 SF

      Versatile Commercial Property with Warehouse

      Distribution warehouse with living quarters and high visibility.
      868 Highway 25 70, Newport, TN 37821
      View Details
    • $314,900
      Pending

      Newport Warehouse with Office Space

      6,000 SF warehouse with office space in Newport, TN.
      625 Honey Bee Ln, Newport, TN 37821
      View Details
    • $85,000
      15.11 Acres

      Newport, TN Unrestricted Land

      15.11 unrestricted acres suitable for recreation or residential use.
      2128 Holt Town Rd, Newport, TN 37821
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo
      20,473 SF

      Downtown Newport Commercial Space Available

      Shell space ready for build-out in downtown Newport.
      237 E Broadway St, Newport, TN 37821
      View Details
    • $575 /Mo
      436 SF

      Downtown Newport Business Offices

      Restored office spaces in vibrant downtown Newport, utilities included.
      273 E Broadway St, Newport, TN 37821
      View Details
    • Contact for pricing
      116,643 SF

      Food Grade Manufacturing Facility

      Manufacturing facility with rail access, convenient interstate access.
      540 E Broadway, Newport, TN 37821
      View Details
    • $2,000 /Mo
      1,628 SF

      Newport Commercial Space by River

      Multi-use commercial space in downtown Newport on the Pigeon River.
      386 E Main St, Newport, TN 37821
      View Details
    • $2,000 /Mo
      1,628 SF

      Newport Commercial Space by River

      Multi-use commercial space in downtown Newport, Tennessee, by Pigeon River.
      386 E Main St, Newport, TN 37821
      View Details
    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.
    261 Broadway St
    Newport, TN 37821
    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
    261 Broadway St, Newport, TN, 37821
    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!