Live-Work Property With
For Sale
$1,250,000
1050 Whisperwood Trail NE, Cleveland, TN 37312
Separate commercial and residential areas support business operations alongside on-site living.
Property Size12,716 SF
Days on Market96
Property Features for 1050 Whisperwood Trail NE
General Information
Standard status
Active
Size
12,716 SF
Property subtype
Commercial
Zoning
Commercial
Additional Details
Three-Phase Power
Yes
Building Details
Building Size
12,716 SF
Year Built
1970
Stories
1
Listing Agency:
Bender Realty LLC
(423) 618-0900
Listed By:
Brian Workman · License #271193
(423) 618-0900
Source:
Spotlightproperties
Added: May 8
Changed: Aug 11
Last Checked: Aug 11 at 9:16AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bender Realty LLC
Investment Insights
Based on property information with market context.
This one-level live-work property combines a separately arranged commercial facility with a finished apartment. The commercial portion is organized into four sections and includes approximately 3,600 square feet in Unit #1, with three offices, a lobby, bathroom, expansive shop area, and an additional room suitable for paint work or storage. Improvements include new 3-phase underground electrical service, updated restrooms, a newer metal roof, dedicated office space, and a loading door serving a low-profile dock. Shared parking is provided with the other tenants.
The residential component is a 1,648-square-foot apartment with an open layout, vaulted beamed ceilings, LVP flooring, a gas fireplace with built-ins, and a kitchen equipped with a large island, gas range, and substantial cabinetry. The apartment also offers a primary suite with walk-in closet, tiled shower bathroom, second bedroom and bathroom, and dedicated laundry room. Additional commercial area may be available, including 1,590 square feet initially and another 2,279 square feet thereafter. The property is zoned Commercial and was built in 1970.
The residential component is a 1,648-square-foot apartment with an open layout, vaulted beamed ceilings, LVP flooring, a gas fireplace with built-ins, and a kitchen equipped with a large island, gas range, and substantial cabinetry. The apartment also offers a primary suite with walk-in closet, tiled shower bathroom, second bedroom and bathroom, and dedicated laundry room. Additional commercial area may be available, including 1,590 square feet initially and another 2,279 square feet thereafter. The property is zoned Commercial and was built in 1970.
Key Highlights
- Approximately 3,600 sq ft in Unit #1, per owner
- Four‑section commercial layout with offices, lobby, shop area, and additional work or storage room
- New 3‑phase underground electrical service and updated restrooms
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
$81,610
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
6.53%
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%
$1,632,200
$1.6M
Cap Rate 7%
$1,165,857
$1.2M
Cap Rate 9%
$906,778
$906.8K
Market Conditions
NOI Build-Up for 12,716 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
$98.7K $7.76/SF
− Vacancy
−$2.7K −$0.21/SF
EGI
$96.0K $7.55/SF
− OpEx
−$14.4K −$1.13/SF
NOI
$81.6K $6.42/SF
Area
Bradley County, TN
Vacancy
2.70%
Lease Rate
$7.76 /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%
$1,632,200
Cap Rate 7%
$1,165,857
Cap Rate 9%
$906,778
Alternative Uses
Best Use
Office B
$2.01M
$1.76M – $2.35M
NOI $140,766 @ 7.0% cap · market cap 11.26%
Second Best
Mixed Use
$1.84M
$1.61M – $2.15M
NOI $128,750 @ 7.0% cap · market cap 10.30%
Theoretical Best
Office A
$2.67M
$2.33M – $3.11M
NOI $186,773 @ 7.0% cap · market cap 14.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
56
Businesses Nearby
Explore this area
Business Placement
Demographics for 37312, TN
36,291
Population
15,023
Households
2.4
Avg Household Size
42
Median Age
36%
College-Educated
93%
High-School Grad
64.4 sq mi
ZIP Area
564
Density / Sq Mi
$75,369
Median Household Income
$41,148
Median Earnings
$1,080
Median Rent
$270,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Separate commercial and residential areas support business operations alongside on-site living.
Where is this live-work space located?
The property is located at 1050 Whisperwood Trail NE Cleveland, TN.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Approximately 3,600 sq ft in Unit #1, per owner; Four‑section commercial layout with offices, lobby, shop area, and additional work or storage room; New 3‑phase underground electrical service and updated restrooms
