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    Property profile & analytics
    OFF-MARKET Estimated value $660,000
    Retail space

    23470 Rhea County Hwy, Spring City, TN 37381-4921

    9,322 SF 0.72 ac lot Built 2009
    Individually Owned 8-yr Hold Free & Clear
    Property ID
    US80-0392659
    Property summary
    AI-generated overview

    This 9,066 square foot multi-use building presents a compelling investment opportunity in Spring City, Tennessee. Located on a 0.72-acre lot at 23470 Rhea County Hwy, 37381, this Class B property boasts excellent visibility due to its prime location on Rhea County Highway. Built in 2009, the single-story structure features a 10-13 foot ceiling height, one ground-level roll-up door ideal for truck deliveries, and updated LED lighting. A large parking lot ensures easy ingress and egress. The property includes a walk-in refrigeration/freezer unit. The flexible C-4 zoning allows for a wide range of uses, including retail, office, fitness center, climate-controlled storage, warehousing, light manufacturing, and restaurants. The property is vacant and being sold "as is, where is." This strategically located building offers easy access to both the Chattanooga and Knoxville Metropolitan Statistical Areas. The asking price is $650,000, with a price per square foot of $71.70. The property's APN is 031 017.00. This is a rare opportunity to acquire a versatile commercial property in a growing area.

    Property profile
    Verified
    Property type Retail space
    Use group RETAIL STORES (PERSONAL SERVICES)
    Year built 2009
    Total area 9,322 SF
    Lot 0.72 ac (31,363 SF)
    APN 031 01700
    UPID US80-0392659
    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
    by Request
    Comparable Approach Comparable
    $739k
    Blend (final) Blend
    $660k
    Owner & transaction history
    Henry G Luken III · 8 yrs held
    Henry G Luken III
    since 2017
    6 recorded transactions
    2017
    $250,000
    2016
    $450,000
    2010
    2010
    2001
    1999
    $2,900
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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