Listing Agency: C/B Jim Henry and Associates Show Phone

Listed By: Kathy May-Martin · License #250474 Show Phone

Source: Moodyscre

Added: Sep 17 Changed: Sep 19 Last Checked: Sep 19 at 2:22PM

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Investment Insights

Based on property information with market context.

This mixed-use property includes 2,778 square feet of commercial space arranged with four private offices, a reception area, a waiting room, and one bathroom. The waiting area offers additional flexibility for future office or workspace configuration. A separate two-bedroom, one-bath condominium is also included and is currently rented, adding a residential component and ongoing income potential.

The property is located at 100 Race Street in Kingston, within walking distance of the courthouse. Its visibility and exposure to strong traffic support a range of professional, service-oriented, and office uses. The combination of dedicated commercial areas and an existing residential unit creates a flexible live-work or owner-user configuration.

Key Highlights

• 2,778 square feet of commercial space
• Four private offices with reception and waiting areas
• Separate 2‑bedroom, 1‑bath condominium included

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

$36,753

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

5.65%

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%

$735,060 $735.1K

Cap Rate 7%

$525,043 $525.0K

Cap Rate 9%

$408,367 $408.4K

Market Conditions

NOI Build-Up for 2,778 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

$58.3K $21.00/SF

− Vacancy

−$9.3K −$3.36/SF

EGI

$49.0K $17.64/SF

− OpEx

−$12.3K −$4.41/SF

NOI

$36.8K $13.23/SF

Area

Roane County, TN

Vacancy

16.00%

Lease Rate

$21.00 /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%

$735,060

Cap Rate 7%

$525,043

Cap Rate 9%

$408,367

Alternative Uses

Best Use

Office B

$525.0K

$459.4K – $612.6K (±1% cap)

NOI $36,753 @ 7.0% cap · market cap 5.65%

Second Best

Mixed Use

$433.4K

$379.2K – $505.6K (±1% cap)

NOI $30,336 @ 7.0% cap · market cap 4.67%

Theoretical Best

Office A

$688.1K

$602.1K – $802.7K (±1% cap)

NOI $48,164 @ 7.0% cap · market cap 7.41%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Matt Courteau Attorney ... Law Firm Mc Farland Tom Law Firm Davis Gary A Law Firm True Care, Inc. Home Health Care Service Sail Away Homes ... Real Estate Agency

Suggested Use

Top Pick HVAC Service Building Supply Locksmith (Bike/Boat/Book/etc) Store Cafe & Coffee Shop Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Residential units

Location Intelligence

Trade Area within ½ mile

393

Businesses Nearby

Explore this area Business Placement

Demographics for 37763, TN

15,465

Population

7,659

Households

2

Avg Household Size

48

Median Age

24%

College-Educated

93%

High-School Grad

85.9 sq mi

ZIP Area

180

Density / Sq Mi

$77,039

Median Household Income

$41,138

Median Earnings

$811

Median Rent

$234,000

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercial space combines professional office areas with a separate residential condominium and proximity to the courthouse.

Where is this mixed-use property located?

The property is located at 100 Race Street Kingston, TN.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: 2,778 square feet of commercial space; Four private offices with reception and waiting areas; Separate 2‑bedroom, 1‑bath condominium included