Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    205 Union St Erwin, TN 37650
    Property profile & analytics

    205 Union St Erwin, TN 37650

    View on Map
    • Retail space
    • 6,174 SF
    • 88.00 lot acres
    For Sale
    $365,000
    View Listing →
    Historic Mixed-Use Building, Erwin For Sale
    $365,000
    3,151 SF

    Historic Mixed-Use Building, Erwin

    Historic building in downtown Erwin with commercial and residential potential.

    205 Union St, Erwin, TN 37650
    View Listing
    Property ID
    US80-1513538
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 205 Union St

    Year built
    1910
    Construction
    WOOD
    Lot size
    88.00 lot acres
    Property size
    6,174 SF
    Zone code
    B-3
    Property type
    Retail space
    APN
    086023N W 00200
    APU
    086023NW00200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Erwin
    County
    Unicoi
    State
    Tennessee
    Longitude
    -82.4168
    Latitude
    36.1447
    CBSA code
    27740
    CBSA name
    JOHNSON CITY, TN METROPOLITAN 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
    $25,520
    $36,440
    $61,960
    -
    $63,800
    $91,100
    $154,900

    Comparable in this City

    • Value Estimation by Request
      832 SF

      1019 Jackson Love Hwy

      RETAIL STORES (PERSONAL SERVICES) • 832 SF
      1019 Jackson Love Hwy, Erwin, TN 37650
      View Details
    • Value Estimation by Request
      288 SF

      904 Jonesborough Rd

      RETAIL STORES (PERSONAL SERVICES) • 288 SF
      904 Jonesborough Rd, Erwin, TN 37650-4017
      View Details
    • Value Estimation by Request
      780 SF

      940 Main Ave

      RETAIL STORES (PERSONAL SERVICES) • 780 SF
      940 Main Ave, Erwin, TN 37650-1440
      View Details
    • Value Estimation by Request
      5,208 SF

      410 Main Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,208 SF
      410 Main Ave, Erwin, TN 37650-1208
      View Details
    • Value Estimation by Request
      448 SF

      3333 Temple Hl Rd

      RETAIL STORES (PERSONAL SERVICES) • 448 SF
      3333 Temple Hl Rd, Erwin, TN 37650-5239
      View Details
    • Value Estimation by Request
      3,100 SF

      344 Carolina Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,100 SF
      344 Carolina Ave, Erwin, TN 37650-1752
      View Details

    Similar Nearby for Sale

    • $365,000
      3,151 SF

      Historic Mixed-Use Building, Erwin

      Historic building in downtown Erwin with commercial and residential potential.
      205 Union St, Erwin, TN 37650
      View Details
    • $450,000
      3,200 SF

      Turnkey Automotive Shop in Erwin

      Well-equipped auto shop on 0.72 acres, ready for operation.
      1040 Martin Creek Rd, Erwin, TN 37650
      View Details
    • Contact for pricing
      4,400 SF

      Turnkey Automotive Shop in Erwin

      Well-equipped auto shop with ample space and included equipment.
      1040 Martin Creek Rd, Erwin, TN 37650
      View Details
    • $850,000
      2,686 SF

      Erwin Commercial Property For Sale

      Commercial property with restaurant potential in Erwin, Tennessee.
      1502 N Main Ave, Erwin, TN 37650
      View Details
    • $799,900
      Pending

      Expansive Mountain Land with Natural Spring

      265-acre mountain property with spring, barn, and creek near Erwin.
      Garland Meadows Ln, Erwin, TN 37650
      View Details
    • $495,000
      18,736 SF

      Downtown Erwin Commercial Gem

      Historic building, versatile spaces, prime location.
      229 Main Ave, Erwin, TN 37650
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      900 SF

      Retail Space in Village Center

      Retail space for lease in Erwin, Tennessee.
      1072 N Main Ave, Erwin, TN 37650
      View Details
    • $1,800 /Mo
      1,500 SF

      Downtown Erwin Commercial Space Available

      Versatile commercial space in downtown Erwin, ideal for various ventures.
      113 S Main Ave, Erwin, TN 37650
      View Details
    • Contact for pricing

      Erwin Shopping Center Retail Suites

      Two large retail suites available for lease in Erwin, Tennessee.
      1238 N Main Ave, Erwin, TN 37650
      View Details
    • Contact for pricing

      Erwin Shopping Center Retail Suites

      Two large suites available for lease in busy shopping center.
      1238 N Main Ave, Erwin, TN 37650
      View Details
    • $3,200 /Mo
      4,298 SF

      Erwin Commercial Space For Rent

      Ground floor commercial space on Main Ave, Erwin, TN.
      201 S Main Ave, Erwin, TN 37650
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    205 Union St
    Erwin, TN 37650
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    205 Union St, Erwin, TN, 37650
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!