Commercial Property in Gray,
127 129 Cherry Street Gray, TN 37615
127 129 Cherry Street, Gray, TN, 37615
$525,000
For Sale
$525,000
COMMERCIAL - Gray, TN
Property Size4,976 SF
Lot Size0.85 Acres
Price / SF$105.51
Days on Market114
Property Features for 127 129 Cherry Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Commercial
- Parking
- 10
- Standard status
- Active
- APN
- 012h C 016.00
- Size
- 4,976 SF
- Lot size
- 0.85 Acres
Taxes and HOA fees
- Tax Annual Amount
- 1264
Utilities
- Sewer type
- Septic Tank
- Heating system
- Natural Gas
- Water source
- Public
Building Details
- Year built
- 1984
- Building materials
- Block
- Roof type
- Metal
Listing agency
The Addington Agency Bristol
(423) 845-5800
Listed by
Vivia Horn · License #330353 TN. 225226449 VA.
(423) 341-6724
Added: Mar 31 Updated: May 21 at 3:37PM Checked: Jul 22 at 8:06PM
MLS# 9993099
Copyright © 2026 Tennessee Virginia Regional Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial property is located in Gray, Tennessee. The property is currently used as a paint and body repair facility. The larger building offers 3500 square feet of space, featuring an office on the upper walk-in level, a restroom, and garage space. A 10,000 lb. hydraulic lift and a 12 x 12 sliding garage door are negotiable with purchase. The lower part of the larger building includes a 14 x 24 ventilated paint booth with a 9 x 10 door and a man door, also negotiable with purchase, along with a 9 x 9 overhead garage access door into the shop. Natural gas provides heat for the larger building. The second, smaller building provides 1,476 square feet of finished space with gas heat, electric A/C, and one restroom. This space has been used as a church and as a retail store. The property is situated on just under an acre of land, featuring 142 feet of road frontage and two driveways. The property is zoned commercial, offering potential for various business uses.
Key Highlights
- Excellent commercial location in Gray, TN with HIGH ROAD FRONTAGE (142').
- Large 3,500 sq. ft. building suitable for paint and body repair with negotiable 10,000 lb. hydraulic lift and paint booth.
- Second 1,476 sq. ft. building with gas heat, electric A/C, and finished space suitable for retail or church use.
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.8k | $9.00 |
| − Vacancy | −$2.0k | −$0.41 |
| EGI | $42.8k | $8.59 |
| − OpEx | −$12.8k | −$2.58 |
| NOI | $29.9k | $6.02 |
4,976 SF · lease $9.00/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.11M
$973.1K – $1.30M
NOI $77,845 @ 7.0% cap · market cap 14.83%
Second Best
Industrial
$427.7K
$374.2K – $499.0K
NOI $29,938 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $146,892 @ 7.0% cap · market cap 27.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Auto shops
Similar For Sale Nearby
Similar Off Market Nearby
- Firestone — 211 Suncrest St, Johnson City, TN 37615
- Greene's Automotive Repair — 679 Gray Station Rd, Gray, TN 37615
- 423 Motors — 724 Gray Station Rd, Gray, TN 37615
- Gray Tire and Automotive — 211 Suncrest St, Gray, TN 37615
- Olde Jonesborough Body Shop At Gray — 168 red ln, gray, tn 37615
FAQs
What type of property is this?
Auto shop - Commercial space in Gray, TN, suitable for retail or automotive.
Where is this auto shop located?
The property is located at 127 129 Cherry Street Gray, TN.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Excellent commercial location in Gray, TN with HIGH ROAD FRONTAGE (142').; Large 3,500 sq. ft. building suitable for paint and body repair with negotiable 10,000 lb. hydraulic lift and paint booth.; Second 1,476 sq. ft. building with gas heat, electric A/C, and finished space suitable for retail or church use.
