Retail Space with Parkway
For Sale
$499,000
1310 Cherokee Cir, Sevierville, TN 37862
Remodeled commercial building with durable flooring, paved parking, and a parcel reaching Dolly Parton Pkwy.
Property Size1,504 SF
Price / SF$331.78
Days on Market35
Property Features for 1310 Cherokee Cir
General Information
Standard status
Active
Size
1,504 SF
Additional Details
Road Access
Yes
Building Details
Year Built
1955
Buildings
1
Listing Agency:
Prime Mountain Properties
(865) 680-8686
Listed By:
Geoff Hill · License #322967
Source:
Shearonsellsteam
Added: Jul 27
Changed: Aug 29
Last Checked: Aug 29 at 3:58PM
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 Prime Mountain Properties
Investment Insights
Based on property information with market context.
This retail property began as a site-built three-bedroom, two-bath home constructed in 1955 and has undergone extensive remodeling. The most recent renovation supported use as a dog grooming facility, with laminate flooring installed throughout for straightforward maintenance. The interior can be adapted for office or other commercial use, subject to applicable requirements.
A paved drive and parking area are accessed from Cherokee Dr. The front portion of the parcel extends to Dolly Parton Pkwy, providing the property with direct exposure along the parkway. The combination of an updated interior, existing parking, and a layout that has already supported commercial operations gives the building flexibility for a range of retail or office applications.
A paved drive and parking area are accessed from Cherokee Dr. The front portion of the parcel extends to Dolly Parton Pkwy, providing the property with direct exposure along the parkway. The combination of an updated interior, existing parking, and a layout that has already supported commercial operations gives the building flexibility for a range of retail or office applications.
Key Highlights
- Remodeled commercial building originally constructed in 1955
- Most recent renovation configured the property for a dog grooming facility
- Laminate flooring throughout supports easy cleaning
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
$18,401
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
3.69%
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%
$368,020
$368.0K
Cap Rate 7%
$262,871
$262.9K
Cap Rate 9%
$204,456
$204.5K
Market Conditions
NOI Build-Up for 1,504 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
$27.1K $18.00/SF
− Vacancy
−$785 −$0.52/SF
EGI
$26.3K $17.48/SF
− OpEx
−$7.9K −$5.24/SF
NOI
$18.4K $12.23/SF
Area
Sevier County, TN
Vacancy
2.90%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$368,020
Cap Rate 7%
$262,871
Cap Rate 9%
$204,456
Alternative Uses
Best Use
Retail
$262.9K
$230.0K – $306.7K
NOI $18,401 @ 7.0% cap · market cap 3.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$634.3K
$555.0K – $740.0K
NOI $44,398 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Explore this area
Business Placement
Demographics for 37862, TN
23,236
Population
13,676
Households
1.7
Avg Household Size
43
Median Age
23%
College-Educated
87%
High-School Grad
81.8 sq mi
ZIP Area
284
Density / Sq Mi
$58,110
Median Household Income
$31,490
Median Earnings
$956
Median Rent
$283,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Remodeled commercial building with durable flooring, paved parking, and a parcel reaching Dolly Parton Pkwy.
Where is this retail space located?
The property is located at 1310 Cherokee Cir Sevierville, TN.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Remodeled commercial building originally constructed in 1955; Most recent renovation configured the property for a dog grooming facility; Laminate flooring throughout supports easy cleaning
