Technical
Financial
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Property profile

229 Main Ave Erwin, TN 37650

OFF-MARKET
Office Spaces
Property ID
US80-1092035
20,227 SF 175 ac lot Built 1920
Entity Owned 6-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 18,736 square foot commercial property, situated on a 0.83-acre lot at 229 S Main Avenue in the heart of Erwin, Tennessee, presents a unique investment opportunity. Originally a historic hotel, this Colonial-style building has undergone significant renovations over the years, most recently being updated for professional office use approximately 20 years ago. The main level boasts an attractive lobby with a reception area, multiple private offices, work cubicles, and restrooms. This layout is mirrored on the second floor, which also includes a spacious conference room, ideal for meetings and presentations. A fully finished basement adds further functionality, featuring a dedicated training room, a well-equipped kitchen, and additional restrooms. The building's versatile design allows for a wide range of commercial uses. Its central downtown location provides excellent visibility and accessibility, making it an attractive proposition for businesses seeking a prominent presence in Erwin. The property is zoned B3, offering flexibility for various commercial ventures. This is a rare chance to acquire a substantial, well-maintained commercial building with a rich history and significant potential in a thriving Tennessee town. The asking price is $495,000.

Property profile

Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Year built 1920
Construction WOOD
Total area 20,227 SF
Lot 175 ac (7,623,000 SF)
Zoning code B-3
APN 086023N T 01900
UPID US80-1092035

Cap rate & NOI

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

Location

229 Main Ave Erwin, TN 37650-1141
Erwin metro Census 80400 JOHNSON CITY, TN METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$220k

Owner & transaction history

since 2020
Last sale
$175,000
4 recorded transactions
2020
$175,000
2020
Price N/A
2007
Price N/A
1998
$150,000

Zoning & alternative use

B-3 · Erwin, TN
General category COMMERCIAL

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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