402SpringStreet.com | Seller Financing | 402-410 N Spring St
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402SpringStreet.com | Seller Financing 402-410 N Spring St
6,024 SF 100% Leased Retail Building Sparta, TN 38583 $774,000 ($128/SF) 11.09% Cap Rate
Investment Highlights
- $100,000 price reduction to ensure a timely sale.
- Priced at 40% of Replacement Cost
- Seller Financing
- Value-Add Retail Strip Center
- Absentee, out of area owner who inherited the property
- Priced to ensure a timely sale!
Executive Summary
Beau Beach, MBA CCIM presents:
Motivated seller! $125,000 price reduction to ensure a timely sale.
402-410 N Spring Street in Sparta, TN is a 5 suite retail center with undeniable character. Ample parking (5.3/1000 SF) on the .57 acre parcel of land.
Absentee, out of area owner who inherited the property. Sold as-is. Priced at just 40% of replacement cost to ensure a timely sale!
Seller Financing
Avoid all the bank headaches! For qualified buyers, seller will provide Seller Financing. Visit the PROPERTY WEBSITE to view your seller financing options.
Add value with hands-on management
Buy this property with cash or seller financing, fill the vacant units and create cash flow plus considerable equity for yourself.
This property will be delivered vacant (seller will need 90 days to vacate items from two suites). Each storefront includes 2 bathrooms, utility room, front and back entrance, seperate HVAC. Built in 1999. Most restrooms were updated in 2021. Prominent pylon signage.
Zoned C-D which is intended for retail uses.
Great location
Located on Sparta’s “main street”. Situated between the local hospital, high school, middle school and the Rolling Acres neighborhood. Adjacent sister building is occupied by Wellspring Family Chiropractic. Daily traffic count exceeds 7,000 vehicles per day.
Buyer to receive $5,000 Convenience Credit
Buyer will receive a $5,000 credit at closing if our brokerage manages the entire transaction. We must prepare all the paperwork.
Priced to ensure a timely sale! This well priced property won’t last long. Don’t miss this opportunity. We must prepare all the paperwork.
Motivated seller! $125,000 price reduction to ensure a timely sale.
402-410 N Spring Street in Sparta, TN is a 5 suite retail center with undeniable character. Ample parking (5.3/1000 SF) on the .57 acre parcel of land.
Absentee, out of area owner who inherited the property. Sold as-is. Priced at just 40% of replacement cost to ensure a timely sale!
Seller Financing
Avoid all the bank headaches! For qualified buyers, seller will provide Seller Financing. Visit the PROPERTY WEBSITE to view your seller financing options.
Add value with hands-on management
Buy this property with cash or seller financing, fill the vacant units and create cash flow plus considerable equity for yourself.
This property will be delivered vacant (seller will need 90 days to vacate items from two suites). Each storefront includes 2 bathrooms, utility room, front and back entrance, seperate HVAC. Built in 1999. Most restrooms were updated in 2021. Prominent pylon signage.
Zoned C-D which is intended for retail uses.
Great location
Located on Sparta’s “main street”. Situated between the local hospital, high school, middle school and the Rolling Acres neighborhood. Adjacent sister building is occupied by Wellspring Family Chiropractic. Daily traffic count exceeds 7,000 vehicles per day.
Buyer to receive $5,000 Convenience Credit
Buyer will receive a $5,000 credit at closing if our brokerage manages the entire transaction. We must prepare all the paperwork.
Priced to ensure a timely sale! This well priced property won’t last long. Don’t miss this opportunity. We must prepare all the paperwork.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
6,024 SF
Building Class
C
Year Built
1999
Price
$774,000
Price Per SF
$128
Cap Rate
11.09%
NOI
$85,850
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.24
Lot Size
0.57 AC
Opportunity Zone
Yes
Zoning
C-D
Parking
32 Spaces (5.31 Spaces per 1,000 SF Leased)
Frontage
148 FT on Spring St
Amenities
- Pylon Sign
- Drive Thru
- Wheelchair Accessible
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Living Water Community Church
- Services
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Living Water Community Church | Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 049-002.04 | Improvements Assessment | $192,480 (2023) |
| Land Assessment | $21,240 (2023) | Total Assessment | $213,720 (2023) |
PROPERTY TAXES
Parcel Number
049-002.04
Land Assessment
$21,240 (2023)
Improvements Assessment
$192,480 (2023)
Total Assessment
$213,720 (2023)
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402SpringStreet.com | Seller Financing | 402-410 N Spring St
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