Warehouse with Pole
New
For Sale
$985,000
3135 Harrison Pike, Cleveland, TN 37311
COMMERCIAL - Cleveland, TN
Property Size4,950 SF
Lot Size5.00 Acres
Price / SF$198.99
Days on Market2
Property Features for 3135 Harrison Pike
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Security features
Security System
Fencing
Fenced
Appliances
Electric Water Heater
Lot features
Level, Level
Elementary school
Prospect
Middle school
Ocoee
High school
Walker Valley
Directions
Inman and Harrison Pike, head West on Harrison Pike, property is on the right just past Quill Drive and Prospect Fire Department Station #5.
Standard status
Active
APN
040 12304 001
Size
4,950 SF
Lot size
5.00 Acres
Taxes and HOA fees
Tax Annual Amount
1018
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Propane (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
security system
meeting room
Building Details
Year built
2008
Flooring type
Concrete, Tile
Building materials
Aluminum Siding
Roof type
Metal
Listing Agency:
Bender Realty
(423) 472-2173
Listed By:
Dwight Richardson · License #225676
(423) 715-0030
Added: Aug 14
Last Checked: Aug 15 at 8:06AM
MLS# 20264210
Copyright © 2026 River Counties Association of Realtors. 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.
The 4,950-square-foot warehouse includes three offices, a reception area, shared space, a full bathroom, and a half bathroom. Additional interior capacity includes an upstairs storage area above the office section and a separate meeting room. The building is equipped with a built-in air compressor, car lift, 480-volt three-phase power, and a security system. An attached 1,188-square-foot canopy provides covered exterior space.
The 5-acre property also includes a 40-by-80-foot pole barn with electricity and 20-foot open doors. The entire site is fenced and has commercial zoning. Construction dates to 2008, with aluminum siding, a metal roof, concrete and tile flooring, central heating and cooling, propane heat, public water, and a septic tank.
The 5-acre property also includes a 40-by-80-foot pole barn with electricity and 20-foot open doors. The entire site is fenced and has commercial zoning. Construction dates to 2008, with aluminum siding, a metal roof, concrete and tile flooring, central heating and cooling, propane heat, public water, and a septic tank.
Key Highlights
- 4,950‑square‑foot warehouse with three offices, reception area, meeting room, and additional upstairs storage
- 40‑by‑80‑foot pole barn with electricity and 20‑foot open doors
- 1,188‑square‑foot exterior canopy provides covered space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,769
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$635,380
$635.4K
Cap Rate 7%
$453,843
$453.8K
Cap Rate 9%
$352,989
$353.0K
Market Conditions
NOI Build-Up for 4,950 SF
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.
Gross rent
$38.4K $7.76/SF
− Vacancy
−$1.0K −$0.21/SF
EGI
$37.4K $7.55/SF
− OpEx
−$5.6K −$1.13/SF
NOI
$31.8K $6.42/SF
Area
Bradley County, TN
Vacancy
2.70%
Lease Rate
$7.76 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$635,380
Cap Rate 7%
$453,843
Cap Rate 9%
$352,989
Alternative Uses
Best Use
Warehouse
$453.8K
$397.1K – $529.5K
NOI $31,769 @ 7.0% cap · market cap 3.23%
Second Best
Industrial
$373.7K
$327.0K – $436.0K
NOI $26,162 @ 7.0% cap · market cap 2.66%
Theoretical Best
Office A
$1.04M
$908.8K – $1.21M
NOI $72,706 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37311, TN
29,687
Population
12,942
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
50.1 sq mi
ZIP Area
593
Density / Sq Mi
$46,827
Median Household Income
$28,839
Median Earnings
$890
Median Rent
$205,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Fenced warehouse facility with office areas, storage, and industrial equipment.
Where is this warehouse located?
The property is located at 3135 Harrison Pike Cleveland, TN.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: 4,950‑square‑foot warehouse with three offices, reception area, meeting room, and additional upstairs storage; 40‑by‑80‑foot pole barn with electricity and 20‑foot open doors; 1,188‑square‑foot exterior canopy provides covered space
