307 S Depot Street, Rogersville, TN 37857
sale
$774,900
|
Other
Courtesy Of TCI GROUP - JERRY PETZOLDT AGE
PRICE REDUCTION -- NOW OFFERED AT $774,900. This 22,900+/- SF multi-tenant investment property offers established income, a new long-term tenant, and meaningful upside through approximately 6,000 SF of available lease-up space. The property currently generates approximately $9,400 per month ($112,800 annually) in contractual third-party rent from a stable, diversified tenant base. Following the sale, the current owner intends to lease back approximately 4,000 SF occupied by GVM Childcare & Preschool at a proposed rental rate of $2,000 per month, with lease terms to be negotiated. The leaseback is expected to include scheduled rental increases, creating an additional opportunity for income growth. The favorable operating structure helps support the investment: many tenant-specific expenses--including electricity, trash service, and grounds maintenance--are paid directly by tenants. Recent capital improvements include replacement of multiple HVAC/heat-pump units, along with significant roof and plumbing repairs. Also included is adjacent parcel 100L H 021.00, comprising approximately 0.55 acre with frontage on S. Rogers Street. This additional parcel provides potential for expanded parking, storage, or future development, subject to applicable zoning and approvals. Investment Highlights Current contractual rent: approximately $112,800 annually Current estimated NOI: approximately $85,651 annually Estimated cap rate at $774,900: 11.1% Projected NOI with seller leaseback: approximately $109,651 annually Estimated projected cap rate at $774,900: 14.2% Approximately 6,000 SF available for additional lease-up With immediate cash flow, a planned seller leaseback, available lease-up space, recent capital improvements, and an included adjacent parcel, this property presents a compelling investment with both current income and future value-add potential. Current financials and rent roll are available to qualified buyers upon request.
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Property Features
- Age: Over 50 Years Old
- Cooling System: Heat Pump
- Cooling System: Central Air
- Exterior Type: Block
- Heating System: Heat Pump (Heating)
- Heating System: Central
- MLSID: 9994142
- Parking Spaces: 25
- Roof Type: Rubber
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