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    OFF-MARKET
    Office Spaces

    229 Main Ave, Erwin, TN 37650-1141

    20,227 SF 175 ac lot Built 1920
    Entity Owned 6-yr Hold Free & Clear
    Property ID
    US80-1092035
    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
    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
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Plastiexports Newco INC · 6 yrs held
    Plastiexports Newco INC
    since 2020
    Last sale
    $175,000
    4 recorded transactions
    2020
    $175,000
    2020
    2007
    1998
    $150,000
    Zoning & alternative use
    B-3 · Erwin, TN
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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