Remodeled Office
For Sale
$435,000
465 Glades Road, Gatlinburg, TN 37738
COMMERCIAL - Gatlinburg, TN
Property Size2,200 SF
Lot Size0.86 Acres
Price / SF$197.73
Days on Market222
Property Features for 465 Glades Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C5
Parking
5
Directions
Head south toward East Pkwy. Turn left onto East Pkwy. Turn left onto Glades Rd Property on left.
Subdivision
Gatlinburg
Standard status
Active
APN
117 17000 000
Size
2,200 SF
Lot size
0.86 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
1496
Building Details
Year built
1960
Floors in Building
1
Listing Agency:
Century 21 MVP
(865) 429-2121
Listed By:
Amber Korlin Brown
(865) 410-0177
Added: Jan 6
Changed: Aug 4
Last Checked: Aug 16 at 5:06PM
MLS# 309732
Copyright © 2026 Great Smoky Mountains 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 2,200-square-foot office property occupies 0.86 acres in Gatlinburg and carries C-5 zoning. Built in 1960, the building has been fully remodeled and is currently configured for use by a cabin rental company. Its interior provides a clean, updated work setting, while a substantial side portion adds room for workshop functions, storage, or expansion.
The property is positioned on Glades Road in Gatlinburg, with street frontage and drive-by exposure identified in the listing information. C-5 zoning is described as supporting professional offices, artisan studios, retail shops, bed and breakfasts, and wedding chapels, among other uses. The existing office configuration offers a starting point for continued commercial occupancy or a future reworking of the space.
The property is positioned on Glades Road in Gatlinburg, with street frontage and drive-by exposure identified in the listing information. C-5 zoning is described as supporting professional offices, artisan studios, retail shops, bed and breakfasts, and wedding chapels, among other uses. The existing office configuration offers a starting point for continued commercial occupancy or a future reworking of the space.
Key Highlights
- 2,200 SF office building on 0.86 acres
- C‑5 zoning in Gatlinburg
- Fully remodeled commercial property
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
$31,173
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
7.17%
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%
$623,460
$623.5K
Cap Rate 7%
$445,329
$445.3K
Cap Rate 9%
$346,367
$346.4K
Market Conditions
NOI Build-Up for 2,200 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
$50.7K $23.04/SF
− Vacancy
−$9.1K −$4.15/SF
EGI
$41.6K $18.89/SF
− OpEx
−$10.4K −$4.72/SF
NOI
$31.2K $14.17/SF
Area
Sevier County, TN
Vacancy
18.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
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%
$623,460
Cap Rate 7%
$445,329
Cap Rate 9%
$346,367
Alternative Uses
Best Use
Office B
$445.3K
$389.7K – $519.6K
NOI $31,173 @ 7.0% cap · market cap 7.17%
Second Best
Industrial
$302.9K
$265.0K – $353.3K
NOI $21,200 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$927.8K
$811.8K – $1.08M
NOI $64,944 @ 7.0% cap · market cap 14.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
Explore this area
Business Placement
Demographics for 37738, TN
5,001
Population
7,075
Households
0.7
Avg Household Size
49
Median Age
31%
College-Educated
91%
High-School Grad
214.6 sq mi
ZIP Area
23
Density / Sq Mi
$63,133
Median Household Income
$29,169
Median Earnings
$1,090
Median Rent
$275,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - C-5-zoned office property with a flexible interior and dedicated workshop or storage area.
Where is this office units located?
The property is located at 465 Glades Road Gatlinburg, TN.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: 2,200 SF office building on 0.86 acres; C‑5 zoning in Gatlinburg; Fully remodeled commercial property
