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    Property profile & analytics

    138 College St Spencer, TN 38585

    • Office Properties & Spaces
    • 3,280 SF
    • 0.06 lot acres
    For Sale
    View listing
    $179,000
    Value Estimation
    Last Sale
    Feb 29, 2024
    $50,000
    Location Intelligence
    Property ID
    US80-2695901
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office Properties & Spaces

    Property Details for 138 College St

    Year built
    1958
    Lot size
    0.06 lot acres
    Property size
    3,280 SF
    Property type
    Office Properties & Spaces
    APN
    088030I A 00400
    APU
    088030IA00400

    Description

    This exceptional mixed-use building, located at 138 College St in the charming historic town of Spencer, Tennessee (home to Fall Creek Falls State Park), presents a unique investment opportunity. Boasting 3,240 square feet on a 0.06-acre lot, this property offers remarkable versatility with three distinct entrances and two levels. The building's adaptable layout allows for a multitude of uses, making it ideal for various business ventures or a savvy investment strategy. The ground floor features open office space, previously utilized as a beauty salon, providing ample room for customization. Upstairs, five separate offices are already in place, perfect for individual rentals or a collaborative workspace. The property is grandfathered in for both short-term and long-term rentals, opening doors to vacation rental possibilities. This presents a compelling chance to live in one section while generating income from the other, or to lease the entire space for commercial office use. The building's location in Spencer, TN, offers a blend of historical charm and proximity to outdoor recreation, making it an attractive destination for both residents and visitors. This is a ready-made framework for a successful investment

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $50,000

    • CAP approach

      CAP return
      Estimation
      6%
      $65,000
      6.5%
      $60,000
      7%
      $65,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $70,000
      Geo Method
      $60,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $70,000
      Retail
      $60,000
      Mixed-Use
      $70,000
      Hospitality
      $65,000
      Educational
      $70,000
      Residential Income
      $55,000
      Energy
      $70,000
      Income-Based Land
      $65,000
      Food Service
      $60,000

    Location Insight

    • Map
    • Local Demand
    City
    Spencer
    County
    Van Buren
    State
    Tennessee
    Longitude
    -85.4677
    Latitude
    35.7478

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $263
    $1,000
    $9,975
    $10,975
    -
    $4,000
    $39,900
    $43,900

    Comparable in this City

    • Value Estimation by Request
      3,637 SF

      1150 Old Dunlap St

      OFFICE (GENERAL) • 3,637 SF
      1150 Old Dunlap St, Spencer, TN 38585-3246
      View Details
    • Value Estimation by Request
      1,475 SF

      15704 State Rte 111

      OFFICE (GENERAL) • 1,475 SF
      15704 State Rte 111, Spencer, TN 38585-3650
      View Details
    • Value Estimation by Request
      4,707 SF

      16000 Tn-111

      Office space • 4,707 SF
      16000 Tn-111, Spencer, TN 38585
      View Details
    • Value Estimation by Request
      2,400 SF

      779 Old Mcminnville St

      OFFICE (GENERAL) • 2,400 SF
      779 Old Mcminnville St, Spencer, TN 38585-3201
      View Details
    • Value Estimation by Request
      5,936 SF

      24038 State Rte 30

      OFFICE (GENERAL) • 5,936 SF
      24038 State Rte 30, Spencer, TN 38585-3827
      View Details
    • Value Estimation by Request

      151 Bud Boyd Rd

      COMMERCIAL (GENERAL)
      151 Bud Boyd Rd, Spencer, TN 38585-3058
      View Details

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    Spencer, TN 38585
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    Realmo Value Estimation

    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.

    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.

    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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