Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    650 Railroad St NE Cleveland, TN 37311

    Sponsored
    For Sale
    $329,000

    MULTI_FAMILY - Ranch - Cleveland, TN

    Type:Single Family Residence
    Property size:
    2,288 SF
    Lot size:
    0.29 Acres
    Days on Market:
    21
    Last Refresh:
    Feb 2 at 8:06 pm

    Property Features for 650 Railroad St NE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Standard status
    Active
    Rooms
    Bedroom 1, Bedroom 3, Bedroom 2, Bedroom 4
    Bedrooms
    4
    APN
    049m L 022.00
    Patio and Porch features
    Porch
    Appliances
    Refrigerator, Microwave, Electric Water Heater, Electric Range
    Size
    2,288 SF
    Lot size
    0.29 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Ductless (Heating)
    Cooling system
    Ductless
    Water source
    Public

    Building Details

    Year built
    1966
    Number of units
    4
    Flooring type
    Vinyl
    Building materials
    Brick Veneer, Vinyl Siding
    Roof type
    Metal
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Gabe Cartwright

    Century 21 1st Choice Realtors (423) 478-2332

    Listing agent Gabe Cartwright (423) 478-2332 License #363796

    Listing date Jan 13, 2026

    MLS# 1526509 Listing URL

    Copyright © 2026 Greater Chattanooga 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.

    Learn more

    Property Insight Report

    Overview

    Renovated Quadplex Investment Opportunity

    This fully renovated quadplex presents an excellent investment opportunity. The property features four units, each containing 1 bedroom and 1 bathroom. The interiors of all units have been updated. Recent upgrades include brand-new plumbing and efficient mini-split heating and cooling systems. Each unit has been modernized with fresh finishes, making the property turnkey and attractive to tenants. The property size is 2288 square feet and the lot size is 0.29 acres. Located in Cleveland, TN, this move-in-ready property offers strong rental potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Bradley
    State
    Tennessee
    Longitude
    -84.867332
    Latitude
    35.159935

    Nearby Similar for Sale

    • $925,000
      10,021 SF

      Multi-Building Church Campus on 4.2 Acres

      Multi-building church campus in Cleveland, TN, ideal for religious or educational use.
      211 Trewhitt Dr SE, Cleveland, TN 37323
      View Details
    • New
      $1,060,000
      Pending

      New Quadruplex Townhome-Style Investment

      New construction quadruplex with townhome-style units, stainless appliances, and garages.
      1922 Cypress Ln, Cleveland, TN 37323
      View Details
    • $479,900
      Pending

      New Duplex Investment Opportunity

      New construction duplex in Cleveland, TN, completion January 2026.
      122 Courtland Crest Dr SW, Cleveland, TN 37311
      View Details
    • $649,000
      6,656 SF

      Cleveland Commercial Properties Package

      Two commercial properties with unlimited potential in Cleveland, Tennessee.
      635 Central Ave NE, Cleveland, TN 37311
      View Details
    • New
      $479,900
      2,450 SF

      New Duplex in Growing Cleveland

      New construction duplex in Cleveland, TN, ready May 2026.
      116 Courtland Crest Dr SW, Cleveland, TN 37311
      View Details
    • $400,000
      17.50 Acres

      Sprawling Tennessee Land with Home

      18.7 acres in Cleveland, TN with a charming 2-bedroom home.
      4222 Bates Pike SE, Cleveland, TN 37323
      View Details
    • $1,395,000
      2,915 SF

      Prime Commercial Property For Sale

      High-visibility commercial property ideal for restaurant or retail in Cleveland.
      2487 Keith St NW, Cleveland, TN 37311
      View Details
    • New
      $285,000
      1,510 SF

      Charming Cottage with Airbnb Success

      Brick cottage on 1.6 acres, proven Airbnb income, furnished.
      4410 Michigan Avenue Rd NE, Cleveland, TN 37323
      View Details
    • New
      $285,000
      1,510 SF

      Charming Cottage with Airbnb Success

      Brick cottage with proven Airbnb success on 1.6 acres.
      4410 Michigan Avenue Rd NE, Cleveland, TN 37323
      View Details
    • $649,000
      6,656 SF

      Cleveland Commercial Properties Package

      Two commercial properties with unlimited potential in Cleveland, Tennessee.
      650 Central Ave NE, Cleveland, TN 37311
      View Details
    • $1,700,000
      1,696 SF

      Commercial Property Near I-75

      Commercial property with multiple buildings and ample parking near I-75.
      2408 Guthrie Ave NW, Cleveland, TN 37311
      View Details
    • New
      $695,000
      2,680 SF

      Prime Cleveland Commercial Opportunity

      Commercial space in high-traffic Cleveland location with recent upgrades.
      2906 N Ocoee St, Cleveland, TN 37312
      View Details

    FAQs

    What type of property is this?
    Quadplex - Fully renovated quadplex with updated interiors, new plumbing, and mini-splits.
    Where is this quadplex located?
    The property is located at 650 Railroad St NE Cleveland, TN.
    What is the asking price?
    The asking price for this property is $329,000.
    What are key features of this property?
    This property features: - Fully renovated quadplex offering immediate rental income.; - Each unit features 1 bedroom and 1 bathroom with updated interiors.; - New plumbing and efficient mini-split heating and cooling systems installed.
    (423) 716-3922
    Request Owner's contact information
    650 Railroad St NE Cleveland, TN 37311
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    650 Railroad St NE
    Cleveland, TN 37311
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    650 Railroad St NE Cleveland, TN 37311
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Gabe Cartwright
    Real Estate License ID: 363796
    (423) 716-3922
    Learn more
    Google sign-in failed. Please try again or use another login method.