447 Bockman Way Sparta, TN 38583-1831
Property Lookup
Property profile & analytics
447 Bockman Way Sparta, TN 38583-1831
- Retail space
- 3,136 SF
- 0.30 lot acres
Property ID
US80-1289176
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.
Location Intelligence
Current Use by Public Records
- Advance Financial / Loan Service
- Bitstop Bitcoin ATM / Atm / Currency Exchange Service
- Western Union / Bank / Credit Union
- Action 24/7 / Money Transfer Service / Betting Agency
Property Details for 447 Bockman Way
- Year built
- 1991
- Lot size
- 0.30 lot acres
- Property size
- 3,136 SF
- Zone code
- C-D
- Property type
- Retail space
- APN
- 093049P F 00300
- APU
- 093049PF00300
Description
This exceptional investment opportunity presents a fee-simple ownership of a two-property portfolio featuring 7,100 square feet of retail space leased to Advance Financial. Located in Sparta and Kingsport, Tennessee, these properties boast a combined NOI of $155,459, representing an attractive 8.75% cap rate on the $1,776,672 asking price. Both properties are single-tenant, freestanding buildings situated on prominent commercial corridors, offering excellent visibility and convenient access. The properties benefit from absolute NNN leases, meaning the tenant is responsible for all operating expenses, repairs, and maintenance, minimizing landlord responsibilities. The Sparta location, built in 1991, sits on a 0.92-acre lot and has a lease with 4+ years remaining, including three 5-year renewal options. Rent will be set at fair market value at the start of the first renewal option, increasing by 10% for subsequent renewals. The Kingsport location, built in 1980, features a lease with 3+ years remaining and two 5-year renewal options, with a 2% annual rent increase throughout the base term and options. Advance Financial, a rapidly growing financial services company with over 100 locations, ensures a stable and reliable tenant. This portfolio offers a compelling combination of strong cash flow, long-term lease security, and built-in rent growth, making it an ideal investment for passive investors seeking a high-return, low-maintenance opportunity. The properties are well-maintained and benefit from ample onsite parking and prominent signage. This is a rare opportunity to acquire a well-positioned, high-performing retail portfolio in a desirable Tennessee market.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $605,000
- ML approach
- $730,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Sparta
- County
- White
- State
- Tennessee
- Longitude
- -85.4755
- Latitude
- 35.9311
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
2021
$3,400
$60,000
$54,520
$114,520
-
$150,000
$136,300
$286,300
