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1901 Old Jacksboro Hwy 6,316 SF 65% Leased Office Building LaFollette, TN 37766 $695,000 ($110.04/SF) 8.90% Cap Rate
Investment Highlights
- Heavy Drive By Traffic - Main Hwy Location
- Two Buildings, One Price
- Parking Onsite
- Amazing Terms - Potential No Money Down
Executive Summary
GREAT SELLER TERMS - BUSY HIGHWAY LOCATION - RENOVATED - CASHFLOW
Seller is willing to carry behind a new first deed of trust -see TERMS below - so no money down!!!! In the heart of La Follette & just 10 minutes to Norris Lake, this property consists of two separate buildings. The original brick building is 2 stories and with only part of the first floor currently rented to an insurance agency for $3200/month. There is an additional 1200 sq ft on the first floor that consists of several offices and a large reception area with a completely separate entrance. The entire 2nd floor is comprised of multiple offices, currently vacant and is projected to rent at $2000/mo. This also has its own separate entrance on the ground floor. The 2nd building (approximately 2500 sqft) has tons of potential as an office warehouse with roll up doors & a partially finished upstairs area. This building is only partially used by a bookkeeping business with a current rent of $600/month.
TERMS: Subject to review of Buyer's financials, Seller will allow a Buyer to secure a 40% new first deed of trust and Seller will carry 60% for 7 years amortized over 30 years, interest rate of 7%, balloon 7 years from closing.
Seller is willing to carry behind a new first deed of trust -see TERMS below - so no money down!!!! In the heart of La Follette & just 10 minutes to Norris Lake, this property consists of two separate buildings. The original brick building is 2 stories and with only part of the first floor currently rented to an insurance agency for $3200/month. There is an additional 1200 sq ft on the first floor that consists of several offices and a large reception area with a completely separate entrance. The entire 2nd floor is comprised of multiple offices, currently vacant and is projected to rent at $2000/mo. This also has its own separate entrance on the ground floor. The 2nd building (approximately 2500 sqft) has tons of potential as an office warehouse with roll up doors & a partially finished upstairs area. This building is only partially used by a bookkeeping business with a current rent of $600/month.
TERMS: Subject to review of Buyer's financials, Seller will allow a Buyer to secure a 40% new first deed of trust and Seller will carry 60% for 7 years amortized over 30 years, interest rate of 7%, balloon 7 years from closing.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$79,800
|
$21.76
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$7,980
|
$2.18
|
| Effective Gross Income |
$71,820
|
$19.58
|
| Taxes |
$2,536
|
$0.69
|
| Operating Expenses |
$7,400
|
$2.02
|
| Total Expenses |
$9,936
|
$2.71
|
| Net Operating Income |
$61,884
|
$16.87
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $79,800 |
| Annual Per SF | $21.76 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $7,980 |
| Annual Per SF | $2.18 |
| Effective Gross Income | |
|---|---|
| Annual | $71,820 |
| Annual Per SF | $19.58 |
| Taxes | |
|---|---|
| Annual | $2,536 |
| Annual Per SF | $0.69 |
| Operating Expenses | |
|---|---|
| Annual | $7,400 |
| Annual Per SF | $2.02 |
| Total Expenses | |
|---|---|
| Annual | $9,936 |
| Annual Per SF | $2.71 |
| Net Operating Income | |
|---|---|
| Annual | $61,884 |
| Annual Per SF | $16.87 |
Property Facts
Sale Type
Investment
Property Type
Building Size
6,316 SF
Building Class
B
Year Built/Renovated
1938/1977
Price
$695,000
Price Per SF
$110.04
Cap Rate
8.90%
NOI
$61,855
Percent Leased
65%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
3,158 SF
Building FAR
0.18
Lot Size
0.80 AC
Amenities
- Storage Space
- Monument Signage
- Air Conditioning
- Smoke Detector
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Accountant
- Finance and Insurance
- 2,550 SF
- $0.24
- Plus Utilities
- -
- Security Insurance
- Finance and Insurance
- 1,550 SF
- $2.06
- Plus Utilities
- May 2028
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Accountant | Finance and Insurance | 2,550 SF | $0.24 | Plus Utilities | - | |
| Security Insurance | Finance and Insurance | 1,550 SF | $2.06 | Plus Utilities | May 2028 |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 103E-A-001.00 | Total Assessment | $121,680 (2025) |
| Land Assessment | $88,240 (2025) | Annual Taxes | $2,536 ($0.40/SF) |
| Improvements Assessment | $33,440 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
103E-A-001.00
Land Assessment
$88,240 (2025)
Improvements Assessment
$33,440 (2025)
Total Assessment
$121,680 (2025)
Annual Taxes
$2,536 ($0.40/SF)
Tax Year
2026
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1901 Old Jacksboro Hwy
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