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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 approximately 22,900 square feet of versatile multi-tenant space with established tenants, long-term leases, strong current income, and significant upside potential. The property currently has approximately $9,400 per month in contractual third-party rent, with a stable and diversified tenant base providing multiple income streams.
The seller plans to lease back approximately 4,000 square feet occupied by GVM Childcare & Preschool following closing, with lease terms to be negotiated. Approximately 6,000 square feet remains available for lease, providing additional income and value-add potential.
The property benefits from a favorable operating structure, with many tenant-specific expenses, including electricity, trash service, and grounds maintenance, paid directly by tenants. Multiple HVAC/heat-pump units have recently been replaced, and significant roof and plumbing repairs have also been completed.
Also included is adjacent parcel 100L H 021.00, approximately 0.55 acre with frontage on S. Rogers St., offering potential for additional parking or future development subject to applicable zoning and approvals.
With established income, tenant stability, a planned seller leaseback, contractual rent growth, and remaining lease-up opportunity, this property offers an attractive combination of immediate cash flow and additional upside potential. Current financials and rent roll are available to qualified buyers upon request.
Current financial summary for the property:
Current contractual rent: $112,800/year
Current estimated NOI: $85,651/year
Current cap rate at $799,900: 10.7%
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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