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    1494 North Gateway Ave Rockwood, TN 37854

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    For Lease
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    Retail space in high-traffic area near Interstate 40.

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    Listing Contact
    Craige Pearson
    Source: Tscg

    Listing Agent: Craige Pearson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Retail Hub in Rockwood, TN

    Roanne County Plaza is located at 1494 North Gateway Avenue in Rockwood, TN, approximately 45 miles west of Knoxville, directly off Interstate 40. The center serves as a key retail hub for the region with visibility along North Gateway Avenue (US-27), a primary commercial corridor with over 12,800 vehicles per day. The property is anchored by Big Lots and Tractor Supply, drawing foot traffic from surrounding rural and suburban communities. Within a 5-mile radius, the area supports a population of nearly 13,000 residents, with over 5,400 households and an average household income of $77,388. The location is suitable for value-driven, service-oriented, and essential goods retailers seeking exposure in a stable, underserved tertiary market. The Walmart Super-center in the Rockwood market gets 1.8 million visits a year, pulling from a 20+ mile radius. There are 400 parking spaces available. A second-generation restaurant space is available.
    Location Intelligence

    Current Use by Public Records

    Tractor Supply Co. Animal Feed Store

    Suggested Use

    Restaurant Building Supply Spa & Massage Wholesale Shop Dental Office Auto Repair Shop Hair Salon Clothing Store Gym & Fitness Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Rockwood
    County
    Roane
    State
    Tennessee
    Longitude
    -84.653336
    Latitude
    35.885378

    Nearby Similar for Lease

    • $4 SF/Yr
      247,460 SF

      Rockwood Industrial Space Available

      Large warehouse, ideal for distribution.
      425 Gateway Ave, Rockwood, TN 37854
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space in high-traffic area near Interstate 40.
    Where is this shopping center located?
    The property is located at 1494 North Gateway Ave Rockwood, TN.
    What are key features of this property?
    This property features: - Strategic location directly off Interstate 40, a key retail hub serving a wide region.; - Anchored by Big Lots and Tractor Supply, ensuring consistent foot traffic.; - High visibility on North Gateway Avenue (US-27) with significant traffic flow (13,793 VPD).
    (615) 324-5643
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    Rockwood, TN 37854
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1494 North Gateway Ave Rockwood, TN 37854
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    Listing Contact
    Craige Pearson
    (615) 324-5643
    Learn more
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