2598 Smithville Hwy McMinnville, TN 37110
- Flex space
- 4,400 SF
- 7.50 lot acres
Current Use by Public Records
- Flex space
Property Details for 2598 Smithville Hwy
- Lot size
- 7.50 lot acres
- Property size
- 4,400 SF
- Property type
- Flex space
Description
This exceptional 7.5-acre commercial property, located at 2598 Smithville Highway in McMinnville, Tennessee (zip code 37110), presents a compelling investment opportunity. The property boasts a total of 4,400 square feet, encompassing over 2,200 square feet of office space and an additional 2,200 square feet of full basement space ideal for storage or expansion. Currently operating under a Net Lease (NN+) agreement with a single tenant, the lease commenced March 1, 2023, and expires March 1, 2025, generating a Net Operating Income (NOI) of $4,200 and a 5.00% cap rate. The property is classified as Class B and features a convenient location just outside McMinnville city limits, providing over 446 feet of frontage on Highway 56. Zoned for commercial use, it benefits from McMinnville City Utilities sewer service while only incurring county taxes. The property includes two driveways—a large, paved 65-foot driveway and additional level graveled land—enhancing accessibility and functionality. The asking price is $995,000. This versatile property offers significant potential for various commercial uses.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- McMinnville
- County
- Warren
- State
- Tennessee
- Longitude
- -85.783943028577
- Latitude
- 35.7174143439
