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Property profile & analytics
OFF-MARKET
Manufacturing properties
185 Main St Newport, TN 37821
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US80-0324127
Property summary
AI-generated overview
This expansive industrial property, located at 185 W Main Street Unit 185, Newport, TN, presents a unique investment opportunity. The 0.83-acre lot houses a substantial 19,875 square foot warehouse, complemented by an additional 10,930 square feet of uncovered space at the rear. Built in 1939 as part of the Rhyne Lumber Company, this building boasts a rich history and offers immense potential for redevelopment. While requiring renovation, a structural engineer's report confirms the building's structural integrity. The necessary updates include the sprinkler system, electrical wiring, plumbing, and roof. The price has been reduced to offset the cost of these improvements. Despite the needed renovations, the warehouse's size and location in Newport, TN, make it an attractive proposition for a variety of commercial uses. The open layout provides flexibility for customization, allowing for the creation of modern, efficient workspace. Serious inquiries are encouraged to explore the possibilities this historic property offers. The property is available for immediate viewing.
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1939
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
29,682 SF
Lot
0.83 ac (36,155 SF)
APN
015047O B 00100
UPID
US80-0324127
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Joseph Earl Rayl · 1 yrs held
Joseph Earl Rayl
since 2025
Last sale
$400,000
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Newport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newport submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$3,240
Tax year 2023
Assessed value
$65,160
Assessed 2023
Previous assessed
$63,600
+2.5% YoY
Effective rate
4.97%
On assessed value
Assessed land
$44,240
Assessed improvement
$20,920
Land market value
$110,600
Improvement market value
$52,300
Total market value
$162,900
Applied tax rate
15.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1939
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Stories
1
Units
1
Bathrooms
1
Total area
29,682 SF
Lot
0.83 ac (36,155 SF)
APN
015047O B 00100
UPID
US80-0324127
Jurisdiction
COCKE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1939
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Bathrooms
1
Lot
0.83 ac
Current owner
From public records · entity-resolved
Joseph Earl Rayl
Individual
Mailing address
540 CONARD RD, COSBY, TN 37722-3042
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 4, 2025
$1,425,000
Joseph Earl Rayl
Daniel Conard
Warranty Deed
$925,000 · Daniel Conard
Dec 8, 2022
$400,000
Daniel Conard
Rhyne Lumber Company
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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