Listing Agency: Brackfield & Associates, Llc e***@comcast.net Show Phone

Listed By: Buddy Brackfield · License #249283 Show Phone

Source: Moodyscre

Added: Jul 9, 2025 Changed: Aug 9 Last Checked: Aug 23 at 12:26PM

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Investment Insights

Based on property information with market context.

This commercial property features versatile CA zoning and includes office areas, warehousing, storage space, and a large fenced yard. Recent updates have been made to the facility. The property is suited for professional services or a medical office. It includes 2,035 square feet of office space and 2,508 square feet of warehouse and storage space. The property is situated on 1.38 acres of secured and fenced land. The total property size is 4,543 square feet.

Key Highlights

• Versatile CA zoning suitable for various commercial uses.
• Combination of office (2,035 SF) and warehouse/storage space (2,508 SF).
• Large, secure, and fenced 1.38‑acre 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

$39,411

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

5.63%

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%

$788,220 $788.2K

Cap Rate 7%

$563,014 $563.0K

Cap Rate 9%

$437,900 $437.9K

Market Conditions

NOI Build-Up for 4,543 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

$49.1K $10.80/SF

− Vacancy

−$2.7K −$0.59/SF

EGI

$46.4K $10.21/SF

− OpEx

−$7.0K −$1.53/SF

NOI

$39.4K $8.68/SF

Area

Knox County, TN

Vacancy

5.50%

Lease Rate

$10.80 /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%

$788,220

Cap Rate 7%

$563,014

Cap Rate 9%

$437,900

Alternative Uses

Best Use

Office B

$972.4K

$850.9K – $1.13M (±1% cap)

NOI $68,069 @ 7.0% cap · market cap 9.73%

Second Best

Warehouse

$563.0K

$492.6K – $656.9K (±1% cap)

NOI $39,411 @ 7.0% cap · market cap 5.63%

Theoretical Best

Office A

$1.18M

$1.03M – $1.37M (±1% cap)

NOI $82,434 @ 7.0% cap · market cap 11.78%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Clark Recovery Auto Repair Shop Hooah Commercial Solutions Hardware & Home Improvement

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Hair Salon Big Box & Wholesale Store Nail Salon Auto Repair Shop Spa & Massage Center

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

Location Intelligence

Trade Area within ½ mile

29

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

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

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Warehouse - Commercial property with office, warehouse space, and fenced yard.

Where is this warehouse located?

The property is located at 10022 Rutledge Pike Corryton, TN.

What is the asking price?

The asking price for this property is $699,900.

What are key features of this property?

This property features: Versatile CA zoning suitable for various commercial uses.; Combination of office (2,035 SF) and warehouse/storage space (2,508 SF).; Large, secure, and fenced 1.38‑acre property.