111 Cosby HwyNewport, TN 37821

Property Details for 111 Cosby Hwy

Year built

1986

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.27 AC

Property size (Sq ft)

1,520 SF

Property type

Retail properties

Property subtype

Retail space

APN

015047O B 00700

APU

015047OB00700

Description

This exceptional commercial property, located at 111 N Cosby Hwy. Unit 111, Newport, TN, presents a unique investment opportunity. Boasting a total of 4,384 square feet, this building offers a versatile layout ideal for a variety of businesses. The property includes 228 square feet of dedicated retail space, perfectly positioned for high visibility and foot traffic, given its location directly across from a Walgreens on the busy Cosby Highway. In addition to the retail area, a substantial 2,096 square feet of warehouse space provides ample storage or production area. The property sits on a 0.27-acre lot, offering potential for expansion or outdoor use. The current configuration suggests the potential for five separate income streams, making this an attractive prospect for investors seeking a diversified portfolio. The asking price for this prime commercial real estate is $419,900. This property's strategic location, combined with its diverse space and high income potential, makes it a compelling investment opportunity in the thriving Newport, TN market. The combination of retail and warehouse space offers flexibility for a wide range of businesses, ensuring strong potential for long-term rental income and appreciation. Serious inquiries are encouraged to explore this promising investment further. The property is ready for immediate occupancy and offers a chance to capitalize on a high-traffic location and a versatile space.

• CAP approach

  CAP return

  Valuation

  6%

  $571,633

  6.5%

  $527,661

  7%

  $489,971

• Comparable approach

  Method

  Valuation

  Relative Method

  $315,357

  Geo Method

  $315,357

• Alternative Use

  Use

  Valuation

  Residential

  $445,102

  Hospitality

  $407,711

  Educational

  $339,211

  Medical

  $350,877

  Retail

  $527,661

Location Insight

City

Newport

County

Cocke

State

Tennessee

Latitude

35.9678

Longitude

-83.1927

CBSA code

35460

CBSA name

NEWPORT, TN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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