Flex Warehouse with Drive-Up
For Sale
Contact for pricing
1300 McCalla Avenue, Knoxville, TN 37915
Flex warehouse with drive-in garage bay, connected apartment/office space, and nearby access to major Knoxville corridors.
Property Size3,500 SF
Lot Size0.20 Acres
Price / SF$271.43
Days on Market89
Property Features for 1300 McCalla Avenue
General Information
Standard status
Active
Size
3,500 SF
Lot size
0.20 Acres
Property subtype
INDUSTRIAL
Additional Details
Drive-In Doors
1
Service Bays
1
Listing Agency:
Oliver Smith Realty & Development Company
(865) 584-2000
Listed By:
Will Sims
Source:
Moodyscre
Added: Jun 16
Changed: Sep 4
Last Checked: Sep 12 at 11:10AM
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 Oliver Smith Realty & Development Company
Investment Insights
Based on property information with market context.
This flex warehouse includes a drive-in single garage bay with a drive-up single garage door, plus connected apartment/office space. With approximately 3,500 square feet on a 0.2-acre site, the property is set up for users who want an integrated work and live or office configuration.
The property is adjacent to Covenant Health Park Stadium. Traffic counts noted for the area include 131,685 vehicles on I-40, 38,379 along James White Parkway, and 11,832 on Summit Hill Drive SE. Nearby retail and activity include Covenant Health Park and Pellissippi State Community College’s Magnolia Avenue Campus, along with businesses such as Likewise Coffee, Barley’s Taproom, Melting Pot, Lonesome Dove, and The Mill and Mine.
The property is adjacent to Covenant Health Park Stadium. Traffic counts noted for the area include 131,685 vehicles on I-40, 38,379 along James White Parkway, and 11,832 on Summit Hill Drive SE. Nearby retail and activity include Covenant Health Park and Pellissippi State Community College’s Magnolia Avenue Campus, along with businesses such as Likewise Coffee, Barley’s Taproom, Melting Pot, Lonesome Dove, and The Mill and Mine.
Key Highlights
- ±3,500 SF flex warehouse on 0.2 acres
- Drive‑in single garage bay with a drive‑up single garage door
- Connected apartment/office space on site
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
$30,467
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
3.21%
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%
$609,340
$609.3K
Cap Rate 7%
$435,243
$435.2K
Cap Rate 9%
$338,522
$338.5K
Market Conditions
NOI Build-Up for 3,500 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
$50.4K $14.40/SF
− Vacancy
−$3.5K −$1.01/SF
EGI
$46.9K $13.39/SF
− OpEx
−$16.4K −$4.69/SF
NOI
$30.5K $8.70/SF
Area
Knoxville, TN
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$609,340
Cap Rate 7%
$435,243
Cap Rate 9%
$338,522
Alternative Uses
Best Use
Flex RnD
$435.2K
$380.8K – $507.8K
NOI $30,467 @ 7.0% cap · market cap 3.21%
Second Best
Warehouse
$433.8K
$379.5K – $506.1K
NOI $30,363 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$866.9K
$758.5K – $1.01M
NOI $60,682 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Drive-in doors
1
Service bays
Location Intelligence
Trade Area within ½ mile
1,127
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 37915, TN
5,509
Population
3,722
Households
1.5
Avg Household Size
33
Median Age
17%
College-Educated
76%
High-School Grad
1.9 sq mi
ZIP Area
2,899
Density / Sq Mi
$22,236
Median Household Income
$29,433
Median Earnings
$519
Median Rent
$206,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Similar Off Market Nearby
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- Happy Days LLC — 2004 E Magnolia Ave, Knoxville, TN 37917
Frequently Asked Questions
What type of property is this?
Flex space - Flex warehouse with drive-in garage bay, connected apartment/office space, and nearby access to major Knoxville corridors.
Where is this flex space located?
The property is located at 1300 McCalla Avenue Knoxville, TN.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: ±3,500 SF flex warehouse on 0.2 acres; Drive‑in single garage bay with a drive‑up single garage door; Connected apartment/office space on site
