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    656 Interstate Dr Crossville, TN 38555

    Sponsored
    For Sale
    $8,400,000

    Massive Industrial Property - I-40 Frontage

    Property size:
    260,000 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    345
    This exceptional investment opportunity presents a substantial 49.37-acre industrial campus in Crossville, Tennessee, ideally situated along Interstate 40. The property boasts a total of 260,000 square feet of existing building space, distributed across six structures situated on approximately 22 acres. The remaining 27 acres offer significant potential for future development of additional industrial buildings, capitalizing on the high-visibility I-40 frontage. Previously used as a wood/lumber processing facility, the property benefits from its established infrastructure and convenient access to major transportation routes. Its strategic location provides easy access to nearby Cookeville and Knoxville, offering a strong logistical advantage for various businesses. The property is priced at $8,400,000. Showings for this prime industrial campus commence on March 20th, 2024, with all offers due by April 3rd, 2024. This is a rare chance to acquire a large-scale industrial property with substantial expansion potential in a rapidly growing area of Tennessee. The existing buildings provide immediate occupancy options, while the ample undeveloped land allows for future growth and customization to meet specific business needs. Don't miss this opportunity to secure a significant foothold in the thriving Crossville industrial market.

    Property Features for 656 Interstate Dr

    General Information

    Property type
    Investment properties
    Square Feet
    260,000 SF
    Lot Size
    2,150,557 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Crossville Hardwoods Wood And Laminate Flooring Supplier

    Suggested Use

    Restaurant Realty agency Spa & Massage Building Supply Wholesale Shop Dental Office Hair Salon Auto Repair Shop Hotel & Motel Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Crossville
    County
    Cumberland County, TN
    State
    Tennessee
    Longitude
    -85.02492
    Latitude
    35.98524

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    FAQs

    What type of property is this?
    Investment property - Massive Industrial Property - I-40 Frontage
    Where is this investment property located?
    The property is located at 656 Interstate Dr Crossville, TN.
    What is the asking price?
    The asking price for this property is $8,400,000.
    (615) 475-5616
    Request Owner's contact information
    656 Interstate Dr Crossville, TN 38555
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    Crossville, TN 38555
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    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.

    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
    656 Interstate Dr Crossville, TN 38555
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