204 Washington Ave Athens, TN 37303-3537
This exceptional Class A office building, located at 204 Washington Ave in Athens, Tennessee, presents a compelling investment opportunity. Boasting 26,880 square feet across two stories, this multi-tenant property sits on a 3.15-acre lot and includes 135 parking spaces. The building, constructed in 1966, benefits from a recent renovation of 6,500 square feet, featuring floor-to-ceiling glass walls and new flooring. A significant portion of the building is currently undergoing renovations to match the high-quality finishes of the updated space, including the addition of a commercial kitchen and extra bathrooms. A new HVAC system has been installed throughout the entire building. The property is zoned B-2 and currently has a tenant leasing 7,000 square feet under a NNN lease expiring in July 2025. An additional 0.75-acre lot adjoins the property, offering potential for expansion or future development. The asking price is $3,500,000, translating to $130.21 per square foot. The property's APN is 054056M B 07200. This is a rare opportunity to acquire a well-located, high-quality office building with significant upside potential in a growing market.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.