107 Penny Ln, Martin, Tennessee 38237
TN, Martin-
Closed Status
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364 Days Off Market Sorry Charlie đ
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Residential Income Property Type
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8766 Total Sqft $68/sqft
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1996 Year Built
SVN | Accel Commercial Real Estate is pleased to bring to market this 9 unit portfolio with 2 additional lots to develop more units in Martin, TN. Consisting of 107 & 108 Penny and 203 Hillsboro Rd. These units are townhome style with 2 bedrooms/1 and a half bathrooms. The property is 100% occupied with month to month leases in place well below market rent at $500. Market rent for this unit type in this area ranges from $900-$1000 giving an investor immediate upside. In addition, a potential investor has the opportunity to implement a light value-add strategy in order to achieve rents of $1100-$1250. Nothing has delivered over the past three years, and new supply will remain minimal in the near-term as no new construction is currently underway meaning limited competition. Please contact advisors for more information. Do not disturb tenants at any time!
- Property Type: Residential Income
- Listing Type: For Sale
- MLS #: 2591291
- Price: $599,000
- Square Footage: 8,766 Sqft
- Year Built: 1996
- Office Name: SVN Accel Commercial Real Estate
- Agent Name: Brian Truman
- Property Attached: Yes
- Listing Status: Closed
- Street Number: 107
- Street: Penny Ln
- City Martin
- State TN
- Zipcode 38237
- County Weakley County, TN
- Subdivision Ridge Top
- Longitude: W89° 9' 46.7''
- Latitude: N36° 21' 7.2''
- Zoning: COM
- Directions: From Nashville, take I-40W (100 mi) to TN-22N/exit 108. Continue on to Penny Lane in Martin, TN. (51.2 mi)
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Heating System Central
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Cooling System Central Air
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Utilities Water Available
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Flooring Carpet
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Sewer Public Sewer
- Elementary School: Martin Elementary
- Middle School: Martin Middle School
- High School: Westview High School
- Water Source: Public
- Building Size: 8,766
- Construction Materials: Brick, Vinyl Siding
- Levels: One
- Number Of Units Total: 9
- On Market Date: November 8th, 2023
- Previous Price: $599,000
- Stories: 2
- Annual Tax Amount: $4,827
- Co List Agent Full Name: Kunal Patel
- Co List Office Name: SVN Accel Commercial Real Estate
- Mls Status: Closed
- Originating System Name: RealTracs
- Special Listing Conditions: Standard
- Modification Timestamp: Mar 12th, 2024 @ 7:20pm
- Status Change Timestamp: Mar 12th, 2024 @ 7:19pm

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