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307 South Depot Street
Rogersville TN 37857
MLS #9994142 · Listing Courtesy of TCI Group - Jerry Petzoldt Agency, LLC
$799,900
Active
22,900
Sq Ft
1.38
Acres
1947
Built
Property Description
This exceptional commercial investment opportunity offers over 22,000 square feet of versatile space with multiple income streams and significant upside potential. The property is comprised of 15 units, many of which have been renovated or built out, and features numerous long-term tenants already in place, providing immediate, stable cash flow.
Currently generating approximately $7,653 per month, with three vacant units advertised for rent, the property presents a strong value-add opportunity with roughly 30% vacancy remaining--ideal for increasing income and boosting returns. The current net income stands at $91,838 annually, making this one of the highest CAP rate opportunities on the market.
The building is partially owner-occupied by a church utilizing three separate areas, including a newly renovated reception hall. Additional on-site tenants include a daycare and a thrift store, further diversifying income streams. In total, there are eight established tenants and three vacant units ready for lease-up.
Recent capital improvements include a new roof and multiple brand-new HVAC systems, reducing near-term maintenance concerns for the next owner.
An added bonus is the included adjacent parcel (100L H 021.00), a 0.55-acre lot with frontage on S. Rogers St., offering excellent potential for additional parking, storage units, or future development.
This property is ideal for an investor seeking steady income with room to grow, or for a religious organization looking to expand into a multi-use facility.
Property Facts
Property TypeCommercial Sale
MLS Number9994142
City Taxes$3,424.71
County Taxes$4,763.82
Features & Amenities
Above Average Condition
Average Condition
Block Exterior
Central Air
Central Heating
Church
City Street
Electricity Connected
Fee Simple
Garage Bay(s)
Heat Pump
Phase 3
Professional Service
Professional/Office
Profit/Loss Statement
Public Sewer
Public Water
Rental Rolls
Rubber Roof
Sewer Connected
Water Connected
Directions
From Highway 11W turn onto N Hasson St., go 0.4 miles and turn left on W Main St.. Go 350 ft. to building
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Additional Information
Contract InfoForeclosureNoDevelopment StatusSee RemarksYesEasementsSee RemarksYesElectric ServiceSee RemarksYesGeneral Property Description# Parking Spaces25# Restrooms4Annual Lease0HOANoLeaseNoLot Size179 x 202Lease Price/SqFt0Road Frontage Length382Stories1Total Finished SqFt22,900Unfinished SqFt0ZoningHB-3Location Tax Legal InfoDeed Book #1,601Deed Page #291Plat MapHRestrictionsSee RemarksYesSale IncludesSee RemarksYes
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