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307 South Depot Street
Rogersville TN 37857
MLS #9994142 · Listing Courtesy of TCI Group - Jerry Petzoldt Agency, LLC
$774,900
Active
22,900
Sq Ft
1.38
Acres
1947
Built
Property Description
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.
Property Facts
Property TypeCommercial Sale
MLS Number9994142
City Taxes$3,424.71
County Taxes$4,763.82
Features & Amenities
Interior
Central Air
Central Heating
Garage Bay(s)
Heat Pump
Exterior
Block Exterior
City Street
Rubber Roof
Other
Above Average Condition
Average Condition
Church
Electricity Connected
Fee Simple
Phase 3
Professional Service
Professional/Office
Profit/Loss Statement
Public Sewer
Public Water
Rental Rolls
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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