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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1543 Wassom Memorial Hwy Spring City, TN 37381-5186

    • Grocery and convenience stores
    • 5,307 SF
    • 2.50 lot acres
    OFF-MARKET
    Value Estimations
    $520,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1945048
    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

    • BIG APPLE MART / Gas Station

    Property Details for 1543 Wassom Memorial Hwy

    Year built
    1989
    Lot size
    2.50 lot acres
    Property size
    5,307 SF
    Property type
    Grocery and convenience stores
    APN
    030D D 00100
    APU
    030DD00100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $320,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $712,000
      Market price range: $206k - $712k
      AI Estimate
      $531,000
      Market price range: $211k - $531k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $510,000
      Current use
      COMMERCIAL (GENERAL)
      $705,000
      Change: +38% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Spring City
    County
    Rhea
    State
    Tennessee
    Longitude
    -84.8723
    Latitude
    35.7025
    CBSA code
    19420
    CBSA name
    DAYTON, TN MICROPOLITAN STATISTICAL AREA

    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
    0
    $0.00
    $15,760
    $146,040
    $161,800
    -
    $39,400
    $365,100
    $404,500

    Comparable in this City

    • Value Estimation by Request
      4,644 SF

      22620 Rhea County Hwy

      GROCERY, SUPERMARKET • 4,644 SF
      22620 Rhea County Hwy, Spring City, TN 37381-5371
      View Details
    • Value Estimation
      $740,000
      2,852 SF

      22090 Rhea County Hwy

      GROCERY, SUPERMARKET • 2,852 SF
      22090 Rhea County Hwy, Spring City, TN 37381-5243
      View Details
    • Value Estimation by Request
      4,620 SF

      413 Frnt St

      RETAIL STORES (PERSONAL SERVICES) • 4,620 SF
      413 Frnt St, Spring City, TN 37381
      View Details
    • Value Estimation by Request
      2,240 SF

      352 Lester Cemetery Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,240 SF
      352 Lester Cemetery Rd, Spring City, TN 37381-7621
      View Details
    • Value Estimation by Request
      2,619 SF

      427 Mars Hl Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,619 SF
      427 Mars Hl Rd, Spring City, TN 37381-5640
      View Details
    • Value Estimation by Request
      1,260 SF

      10361 Shut In Gap Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,260 SF
      10361 Shut In Gap Rd, Spring City, TN 37381-7407
      View Details

    Similar Nearby for Sale

    • $250,000
      7,416 SF

      Retail Building on Corner Lot

      One-story retail building on 0.66 acres with parking.
      152 Ellis St, Spring City, TN 37381
      View Details
    • $45,000
      Pending

      One Acre Wooded Lot

      One acre wooded lot ready for your dream home.
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    • $30,000
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      Scenic 1.5-Acre Lake View Parcel

      Private, gated community on Watts Bar Lake with panoramic potential.
      509 Hidden Frst, Spring City, TN 37381
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    • $69,900
      0.69 Acres

      Lake Area Retreat Lot

      Buildable lot with deeded boat slip near Watts Bar Lake.
      122 Waterside Way, Spring City, TN 37381
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    • $299,000
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      Highway Frontage Commercial Land

      7.5 acre commercial site with high visibility and traffic.
      7.5 Rhea County Hwy, Spring City, TN 37381
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    • Contact for pricing
      0.33 Acres

      Wooded Lot with Lake Access

      Wooded lot in Apollo Shores with lake access.
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    Similar Nearby for Lease

    • $180 SF/Yr
      41,488 SF

      Spring City Industrial Space For Lease

      41,488 SF Manufacturing/Warehouse
      153 Kemmer Rd, Spring City, TN 37381
      View Details
    • $51,860
      41,488 SF

      Spacious Industrial Space in Spring City

      40,000+ sq ft industrial space with loading docks and offices.
      153 Kemmer Rd, Spring City, TN 37381
      View Details
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    1543 Wassom Memorial Hwy
    Spring City, TN 37381-5186
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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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