Property profile

204 Washington Ave Athens, TN 37303

OFF-MARKET
Banks
Property ID
US80-1951898
30,560 SF 2.4 ac lot Built 1966
Entity Owned 1-yr Hold Free & Clear
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1966
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 30,560 SF
Lot 2.4 ac (104,544 SF)
APN 054056M B 07200
UPID US80-1951898

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

204 Washington Ave Athens, TN 37303-3537
Athens metro Census 970202 ATHENS, TN MICROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$3.53M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$3.49M

Owner & transaction history

since 2025
Last sale
$3.5M
3 recorded transactions
2025
$3.5M
2025
Price N/A
2018
$500,000

Zoning & alternative use

Top alternative use upside
Commercial (general) $3.4M +59.8%
Restaurant $2.6M +23.3%
Auto repair, garage $2.4M +13.9%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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