Leased Retail and Office
For Sale
Contact for pricing
106 Keller Lane, Maryville, TN 37801
A fully leased NNN property adjacent to a Kroger Marketplace in Maryville, TN.
Property Size9,805 SF
Price / SF$496.79
Days on Market71
Property Features for 106 Keller Lane
General Information
Standard status
Active
Size
9,805 SF
Property subtype
Retail, Office
Occupancy
100%
Lease Type
NNN
Net Operating Income
$333,675
Building Details
Year Built
2017
Units
3
Tenancy
Multi
Listing Agency:
Marcus & Millichap - San Diego
Listed By:
Phil Sambazis · License #01474991
(858) 373-3100
Source:
Crexi
Added: Jun 29
Changed: Sep 6
Last Checked: Sep 6 at 11:17PM
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 Marcus & Millichap - San Diego
Investment Insights
Based on property information with market context.
This for-sale commercial property is offered on a triple-net basis and is described as 100% leased. The asset includes retail space and office units within the same building, providing a mix of income-producing commercial use.
The property is located at 106 Keller Lane in Maryville, Tennessee and is noted in the remarks as adjacent to a Kroger Marketplace. The listing also highlights that it is situated in an affluent area.
The available information does not provide further detail on unit mix, frontage, or specific improvements beyond the building’s retail and office configuration and its leased, NNN structure.
The property is located at 106 Keller Lane in Maryville, Tennessee and is noted in the remarks as adjacent to a Kroger Marketplace. The listing also highlights that it is situated in an affluent area.
The available information does not provide further detail on unit mix, frontage, or specific improvements beyond the building’s retail and office configuration and its leased, NNN structure.
Key Highlights
- Year built 2017
- Fully leased 100% under NNN leases
- Located adjacent to Kroger Marketplace in Maryville, TN
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
$176,490
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
3.62%
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%
$3,529,800
$3.5M
Cap Rate 7%
$2,521,286
$2.5M
Cap Rate 9%
$1,961,000
$2.0M
Market Conditions
NOI Build-Up for 9,805 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
$294.2K $30.00/SF
− Vacancy
−$58.8K −$6.00/SF
EGI
$235.3K $24.00/SF
− OpEx
−$58.8K −$6.00/SF
NOI
$176.5K $18.00/SF
Area
Blount County, TN
Vacancy
20.00%
Lease Rate
$30.00 /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%
$3,529,800
Cap Rate 7%
$2,521,286
Cap Rate 9%
$1,961,000
Alternative Uses
Best Use
Office B
$2.52M
$2.21M – $2.94M
NOI $176,490 @ 7.0% cap · market cap 3.62%
Second Best
Retail
$2.16M
$1.89M – $2.52M
NOI $151,493 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$3.95M
$3.45M – $4.61M
NOI $276,322 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
Explore this area
Business Placement
Demographics for 37801, TN
28,822
Population
12,254
Households
2.4
Avg Household Size
42
Median Age
25%
College-Educated
89%
High-School Grad
69.4 sq mi
ZIP Area
415
Density / Sq Mi
$70,814
Median Household Income
$45,296
Median Earnings
$1,061
Median Rent
$268,700
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?
NNN property - A fully leased NNN property adjacent to a Kroger Marketplace in Maryville, TN.
Where is this nnn property located?
The property is located at 106 Keller Lane Maryville, TN.
What is the asking price?
The asking price for this property is $4,871,000.
What are key features of this property?
This property features: Year built 2017; Fully leased 100% under NNN leases; Located adjacent to Kroger Marketplace in Maryville, TN
