EPB officials said a substation on Brainerd Road that the utility has operated since 1929 actually belongs to TVA.
"We thought we owned it all along," President David Wade said.
He said TVA recently contacted EPB wanting to sell the property, and EPB agreed.
The lot, next to Mayo's Bar and Grill, is appraised at just $13,000.
Mr. Wade said the substation has the original transformer still in operation. He said many much newer transformers have failed, but this one is still reliable.
"It was made like a Sherman Tank," he said.