307 Depot ST Rogersville, TN 37857
22,900 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 22,900 sqft
Price per Sqft $34
Subdivision Not In Subdivision
MLS Listing ID 9994142
HOA Y/N No
Total Fin. Sqft 22900
Year Built 1947
Lot Size 1.380 Acres
Acres 1.38
Lot Dimensions 179 x 202
Source Tennessee/Virginia Regional MLS
Property Description
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%
Upon the sale of the property, the current owner intends to lease back a portion of the building at a monthly rental rate of $2,000. With the additional lease income, the property's projected Net Operating Income (NOI) will increase to approximately $109,651, resulting in an estimated capitalization rate of 13.7%.
The term of the leaseback will be negotiable between the buyer and seller. The lease is also expected to include scheduled rental increases, providing the purchaser with additional income growth over the term of the lease.
Location
State TN
County Hawkins
Community Not In Subdivision
Area 1.38
Zoning HB-3
Direction From Highway 11W turn onto N Hasson St., go 0.4 miles and turn left on W Main St.. Go 350 ft. to building
Interior
Heating Central, Heat Pump
Cooling Central Air, Heat Pump
Equipment Garage Bay(s)
Heat Source Central, Heat Pump
Exterior
Utilities Available Electricity Connected, Sewer Connected, Water Connected
Roof Type Rubber
Road Frontage City Street
Building
Sewer Public Sewer
Water Public
Structure Type Block
New Construction No
Others
Senior Community No
Tax ID 100l H 018.00
Acceptable Financing Conventional
Listing Terms Conventional