Office Building with Reception
For Sale
$184,900
119 N Gateway Ave, Rockwood, TN 37854
Professional office setting with private workrooms, storage, visitor reception, and on-site parking.
Property Size1,200 SF
Price / SF$154.08
Days on Market17
Property Features for 119 N Gateway Ave
General Information
Standard status
Active
Size
1,200 SF
Building Details
Year Built
1973
Listing Agency:
Coldwell Banker Jim Henry & Assoc.
Listed By:
Kathy May-Martin · License #250474
(865) 603-7230
Source:
Grayfoxrealty
Added: Aug 23
Changed: Sep 8
Last Checked: Sep 8 at 5:09AM
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 Coldwell Banker Jim Henry & Assoc.
Investment Insights
Based on property information with market context.
This 1,200-square-foot office building at 119 N Gateway Ave includes four offices, two bathrooms, storage space, and a reception and waiting area. The layout combines private work areas with a dedicated space for visitors and day-to-day administrative functions.
The property is located in Rockwood, Tennessee, within city limits, and includes on-site parking. Its office configuration provides a practical setting for an owner-user or business seeking dedicated commercial space.
The property is located in Rockwood, Tennessee, within city limits, and includes on-site parking. Its office configuration provides a practical setting for an owner-user or business seeking dedicated commercial space.
Key Highlights
- 1,200‑square‑foot office building at 119 N Gateway Ave
- Four offices and two bathrooms
- Reception and waiting area for visitors
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
$15,876
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
8.59%
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%
$317,520
$317.5K
Cap Rate 7%
$226,800
$226.8K
Cap Rate 9%
$176,400
$176.4K
Market Conditions
NOI Build-Up for 1,200 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
$25.2K $21.00/SF
− Vacancy
−$4.0K −$3.36/SF
EGI
$21.2K $17.64/SF
− OpEx
−$5.3K −$4.41/SF
NOI
$15.9K $13.23/SF
Area
Roane County, TN
Vacancy
16.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$317,520
Cap Rate 7%
$226,800
Cap Rate 9%
$176,400
Alternative Uses
Best Use
Office B
$226.8K
$198.5K – $264.6K
NOI $15,876 @ 7.0% cap · market cap 8.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$297.2K
$260.1K – $346.8K
NOI $20,805 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Explore this area
Business Placement
Demographics for 37854, TN
12,614
Population
5,908
Households
2.1
Avg Household Size
47
Median Age
14%
College-Educated
86%
High-School Grad
136.4 sq mi
ZIP Area
92
Density / Sq Mi
$49,098
Median Household Income
$32,554
Median Earnings
$783
Median Rent
$154,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Professional office setting with private workrooms, storage, visitor reception, and on-site parking.
Where is this office building located?
The property is located at 119 N Gateway Ave Rockwood, TN.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: 1,200‑square‑foot office building at 119 N Gateway Ave; Four offices and two bathrooms; Reception and waiting area for visitors
