Renovated Industrial
For Sale
$380,000
4215 Old Tasso Road NE, Cleveland, TN 37312
Commercial Sale, Cleveland, TN
Property Size4,985 SF
Lot Size0.34 Acres
Price / SF$76.23
Days on Market120
Property Features for 4215 Old Tasso Road NE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Industrial
Parking
8
Interior features
Storage, High Ceilings, Granite Counters
Exterior features
Dock
Appliances
Electric Water Heater
Lot features
Level, Cleared, Corner Lot, Level, Cleared, Corner Lot
Elementary school
Mayfield
Middle school
Cleveland
High school
Cleveland
Directions
From Keith & 25th St : Turn right toward 25th St NW 49 ft Turn right onto 25th St NW 1.2 mi Take the 20th Street exit 0.3 mi Turn left onto 20th St NE 0.8 mi Turn left onto Old Tasso Rd NE Property is on the left
Standard status
Active
APN
042 02000 000
Size
4,985 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Annual Amount
747
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Amenities
security cameras
Building Details
Year built
1935
Flooring type
Vinyl, Concrete
Building materials
Aluminum Siding, Wood Siding
Roof type
Metal
Additional Structures
Storage
Listing Agency:
Bender Realty
(423) 472-2173
Listed By:
Adam Hammond · License #333299
(423) 464-1812
Added: May 4
Changed: Aug 19
Last Checked: Aug 31 at 12:06PM
MLS# 20262369
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.
This 4,985-square-foot warehouse and shop occupies a 0.34-acre site in Cleveland, Tennessee. Renovated in 2021, the building has 10.5-foot ceilings, concrete flooring, two half-baths, and a rear storage shed. Two roll-up doors with openers and a loading dock support receiving and day-to-day operations. The property is currently tenant occupied and includes a modified net lease structure.
Electrical capacity includes 400 amp single-phase and three-phase service. A fenced boundary and security cameras are in place, while the front area provides up to eight parking spaces with room for expansion. Public water and sewer serve the property, and gas is available at the street. The building was constructed in 1935 and is zoned Industrial.
Electrical capacity includes 400 amp single-phase and three-phase service. A fenced boundary and security cameras are in place, while the front area provides up to eight parking spaces with room for expansion. Public water and sewer serve the property, and gas is available at the street. The building was constructed in 1935 and is zoned Industrial.
Key Highlights
- 4,985‑square‑foot warehouse and shop on 0.34 acres
- Renovated in 2021 with 10.5‑foot ceilings and concrete floors
- 400 amp single‑phase and three‑phase electrical service
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
$31,993
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
8.42%
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%
$639,860
$639.9K
Cap Rate 7%
$457,043
$457.0K
Cap Rate 9%
$355,478
$355.5K
Market Conditions
NOI Build-Up for 4,985 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
$38.7K $7.76/SF
− Vacancy
−$1.0K −$0.21/SF
EGI
$37.6K $7.55/SF
− OpEx
−$5.6K −$1.13/SF
NOI
$32.0K $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%
$639,860
Cap Rate 7%
$457,043
Cap Rate 9%
$355,478
Alternative Uses
Best Use
Warehouse
$457.0K
$399.9K – $533.2K
NOI $31,993 @ 7.0% cap · market cap 8.42%
Second Best
Industrial
$376.4K
$329.3K – $439.1K
NOI $26,347 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$1.05M
$915.3K – $1.22M
NOI $73,220 @ 7.0% cap · market cap 19.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10 ft
Clear height
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37312, TN
36,291
Population
15,023
Households
2.4
Avg Household Size
42
Median Age
36%
College-Educated
93%
High-School Grad
64.4 sq mi
ZIP Area
564
Density / Sq Mi
$75,369
Median Household Income
$41,148
Median Earnings
$1,080
Median Rent
$270,500
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Tenant-occupied facility with industrial power, loading access, and secured outdoor boundaries.
Where is this warehouse located?
The property is located at 4215 Old Tasso Road NE Cleveland, TN.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: 4,985‑square‑foot warehouse and shop on 0.34 acres; Renovated in 2021 with 10.5‑foot ceilings and concrete floors; 400 amp single‑phase and three‑phase electrical service
