Office Building with Reception
For Sale
Contact for pricing
119 N Gateway Ave, Rockwood, TN 37854
Professional office setting with private workrooms, storage, visitor reception, and on-site parking.
Property Size1,200 SF
Price / SF$154.08
Days on Market9
Property Features for 119 N Gateway Ave
General Information
Standard status
Active
Size
1,200 SF
Property subtype
OFFICE
Listing Agency:
C/B Jim Henry and Associates
(865) 603-7230
Listed By:
Kathy May-Martin · License #250474
(865) 603-7230
Source:
Moodyscre
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 29 at 11:03AM
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 C/B Jim Henry and Associates
Investment Insights
Based on property information with market context.
This 1,200-square-foot office building at 119 N Gateway Ave includes four offices, two bathrooms, storage space, and a reception and waiting area. The layout combines private work areas with a dedicated space for visitors and day-to-day administrative functions.
The property is located in Rockwood, Tennessee, within city limits, and includes on-site parking. Its office configuration provides a practical setting for an owner-user or business seeking dedicated commercial space.
The property is located in Rockwood, Tennessee, within city limits, and includes on-site parking. Its office configuration provides a practical setting for an owner-user or business seeking dedicated commercial space.
Key Highlights
- 1,200‑square‑foot office building at 119 N Gateway Ave
- Four offices and two bathrooms
- Reception and waiting area for visitors
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
$15,876
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
8.59%
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%
$317,520
$317.5K
Cap Rate 7%
$226,800
$226.8K
Cap Rate 9%
$176,400
$176.4K
Market Conditions
NOI Build-Up for 1,200 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
$25.2K $21.00/SF
− Vacancy
−$4.0K −$3.36/SF
EGI
$21.2K $17.64/SF
− OpEx
−$5.3K −$4.41/SF
NOI
$15.9K $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%
$317,520
Cap Rate 7%
$226,800
Cap Rate 9%
$176,400
Alternative Uses
Best Use
Office B
$226.8K
$198.5K – $264.6K
NOI $15,876 @ 7.0% cap · market cap 8.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$297.2K
$260.1K – $346.8K
NOI $20,805 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Explore this area
Business Placement
Demographics for 37854, TN
12,614
Population
5,908
Households
2.1
Avg Household Size
47
Median Age
14%
College-Educated
86%
High-School Grad
136.4 sq mi
ZIP Area
92
Density / Sq Mi
$49,098
Median Household Income
$32,554
Median Earnings
$783
Median Rent
$154,600
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?
Office building - Professional office setting with private workrooms, storage, visitor reception, and on-site parking.
Where is this office building located?
The property is located at 119 N Gateway Ave Rockwood, TN.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: 1,200‑square‑foot office building at 119 N Gateway Ave; Four offices and two bathrooms; Reception and waiting area for visitors
