Mixed-Use Income
For Sale
$750,000
1242 Ladd Springs Road SE, Cleveland, TN 37323
COMMERCIAL - Cleveland, TN
Property Size8,814 SF
Lot Size1.10 Acres
Price / SF$85.09
Days on Market47
Property Features for 1242 Ladd Springs Road SE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Interior features
Open Floorplan
Appliances
Electric Range, Refrigerator
Lot features
Level, Level
Elementary school
Waterville
Middle school
Lake Forest
High school
Bradley Central
Directions
spring place to Ladd springs rd. Property is on your left
Standard status
Active
APN
082 00602 000
Size
8,814 SF
Lot size
1.10 Acres
Taxes and HOA fees
Tax Annual Amount
932
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Water source
Well, Public
Building Details
Year built
1976
Flooring type
Vinyl
Building materials
Block
Listing Agency:
Coldwell Banker Kinard Realty · Coldwell Banker Real Estate
(423) 476-5532
Listed By:
Tammy Johnson · License #279286
(423) 322-0197
Added: Jun 15
Changed: Jul 28
Last Checked: Jul 31 at 6:06PM
MLS# 20263103
Copyright © 2026 River Counties Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use income property includes a central retail space with eight fully occupied one-bedroom apartments arranged four units on each side. The building is configured for one-level operation with the residential and retail components integrated into a single layout. Apartment updates include luxury vinyl plank flooring and renovated bathrooms.
Located at 1242 Ladd Springs Road SE in Cleveland, Tennessee, the property is offered as a commercial-zoned investment asset in Bradley County. The retail and residential components are described as consistently occupied, supporting steady rental income.
The property totals 8,814 square feet on a 1.1-acre lot and is presented as a fully leased mixed-use building with both residential and retail space in place.
Located at 1242 Ladd Springs Road SE in Cleveland, Tennessee, the property is offered as a commercial-zoned investment asset in Bradley County. The retail and residential components are described as consistently occupied, supporting steady rental income.
The property totals 8,814 square feet on a 1.1-acre lot and is presented as a fully leased mixed-use building with both residential and retail space in place.
Key Highlights
- Mixed‑use property with eight fully occupied 1‑bedroom apartments plus a central retail space
- One‑level layout with four apartment units on each side of the retail space
- Apartments feature open floorplans with luxury vinyl plank flooring and renovated bathrooms
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $126.9k | $14.40 |
| − Vacancy | −$7.7k | −$0.88 |
| EGI | $119.2k | $13.52 |
| − OpEx | −$53.6k | −$6.08 |
| NOI | $65.5k | $7.44 |
8,814 SF · lease $14.40/SF/yr · vacancy 6.10% · expense 45.00%
Alternative Uses
Best Use
Mixed Use
$1.27M
$1.12M – $1.49M
NOI $89,242 @ 7.0% cap · market cap 11.90%
Second Best
Retail
$1.19M
$1.04M – $1.39M
NOI $83,292 @ 7.0% cap · market cap 11.11%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,460 @ 7.0% cap · market cap 17.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Explore this area
Business Placement
Demographics for 37323, TN
31,497
Population
12,841
Households
2.5
Avg Household Size
41
Median Age
18%
College-Educated
88%
High-School Grad
114.6 sq mi
ZIP Area
275
Density / Sq Mi
$67,538
Median Household Income
$41,922
Median Earnings
$908
Median Rent
$213,900
Median Home Value
Market
Properties on Market for Mixed-use properties in Cleveland
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - One-level mixed-use building with central retail space and eight fully occupied one-bedroom apartments.
Where is this mixed-use property located?
The property is located at 1242 Ladd Springs Road SE Cleveland, TN.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Mixed‑use property with eight fully occupied 1‑bedroom apartments plus a central retail space; One‑level layout with four apartment units on each side of the retail space; Apartments feature open floorplans with luxury vinyl plank flooring and renovated bathrooms
