Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Commercial Property For Sale Title is generated by Realmo AI

    2487 Keith NW Street, Cleveland, TN 37311

    View on Map
    Claim this Listing
    For Sale
    $1,395,000

    High-visibility commercial property suitable for a restaurant or other business.

    Type:Commercial/Industrial
    Property size:
    2,915 SF
    Price / SF:
    $478/SF
    Added:
    Apr 29, 2025
    Days on Market:
    400
    Last Refresh:
    May 28 at 7:58 am

    Property Features for 2487 Keith NW Street

    General Information

    Standard status
    Active
    Size
    2,915 SF
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1982

    We can help!

    Listing Contact
    Max Phillips
    Max Phillips

    Listing agent Max Phillips License #203547

    Listing office Crye-Leike REALTORS - Cleveland

    Listing date Apr 29, 2025

    Source Exitrealty

    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 Crye-Leike REALTORS - Cleveland

    HighLights

    • Prime commercial property with high traffic and visibility.
    • Includes essential restaurant equipment: exhaust fans, walk‑in coolers/freezers, sink.
    • Suitable for a major franchise restaurant.
    • Opportunity to assume lease and build 401K.
    • One‑level building with approximately 2915 sq. ft.
    • Excellent condition.

    Overview

    This commercial property offers a high-traffic location with excellent visibility. The one-level building is approximately 2915 square feet and is in excellent condition. It is suitable for a major franchise restaurant or other commercial ventures. Included with the sale are exhaust fans, walk-in coolers, walk-in freezers, a sink, and all attached items. This property is located in Cleveland, TN.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Bradley
    State
    Tennessee
    Longitude
    -84.872869
    Latitude
    35.185336

    Nearby Similar for Sale

    • $948,000
      4,190 SF

      Cleveland Car Wash & Lube

      Established car wash and lube center in Cleveland, Tennessee.
      917 Keith Street NW, Cleveland, TN 37311
      View Details
    • $620,000
      2,680 SF

      Prime Cleveland Commercial Opportunity

      Commercial space with recent upgrades in a high-traffic Cleveland location.
      2906 N Ocoee Street, Cleveland, TN 37312
      View Details
    • $375,000
      2,714 SF

      Mixed-Use Property with Income Potential

      Commercial space with residential unit, ideal for owner-operators.
      270 Central Avenue NW, Cleveland, TN 37311
      View Details
    • $294,000
      1,200 SF

      Downtown Cleveland Commercial Building

      Prime commercial building in revitalizing downtown Cleveland, Tennessee.
      463 Central Avenue NW, Cleveland, TN 37311
      View Details
    • $7,999,900
      61,954 SF

      92-Unit Apartment Community in Cleveland

      Well-maintained apartment complex with recent improvements in a prime location.
      3700/04/22 Stephens Road NE, Cleveland, TN 37312
      View Details
    • $329,000
      2,288 SF

      Renovated Quadplex Investment Opportunity

      Fully renovated quadplex with four units, ideal for investors.
      650 Railroad Street NE, Cleveland, TN 37311
      View Details
    • $365,000
      1,925 SF

      Turnkey Triplex in North Cleveland

      Low-maintenance triplex with long-term tenants, ideal for investors.
      2609 Campbell Bridge Road NW, Cleveland, TN 37312
      View Details
    • $439,000
      2,040 SF

      New Duplex in Growing Market

      New construction duplex near downtown Cleveland, offering income potential.
      1622/1624 21st Street SE, Cleveland, TN 37311
      View Details
    • $695,000
      4,508 SF

      Established Restaurant with Apartment

      Successful restaurant with updated apartment for extra income.
      1803 Apd 40, Cleveland, TN 37323
      View Details
    • $949,000
      2,700 SF

      Commercial Property on Spring Place Road

      4.2-acre commercial property with 2,700 sq ft building.
      1490 Spring Place Road SE, Cleveland, TN 37311
      View Details
    • $525,000
      6,636 SF

      Cleveland Commercial Property with Warehouse

      Versatile commercial space with warehouse, garage bays, and offices.
      635 Central Avenue NE, Cleveland, TN 37311
      View Details
    • $950,000
      5,584 SF

      Keith Street Commercial Property

      Income-producing commercial property with 11 units in central Cleveland.
      2700 Keith Street NW, Cleveland, TN 37312
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - High-visibility commercial property suitable for a restaurant or other business.
    Where is this conventional restaurant located?
    The property is located at 2487 Keith NW Street Cleveland, TN.
    What is the asking price?
    The asking price for this property is $1,395,000.
    What are key features of this property?
    This property features: Prime commercial property with high traffic and visibility.; Includes essential restaurant equipment: **exhaust fans, walk‑in coolers/freezers, sink.**; Suitable for a major franchise restaurant.
    (423) 596-7173
    We can help!
    Listing Contact
    Max Phillips
    Max Phillips
    Real Estate License ID: 203547
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2487 Keith NW Street, Cleveland, TN 37311
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!