Mixed-Use Property with New
For Sale
$567,500
512 North Roane Street, Harriman, TN 37748
Brick-and-block building combines a hair salon with efficiency residential space.
Property Size4,144 SF
Price / SF$136.94
Days on Market754
Property Features for 512 North Roane Street
General Information
Standard status
Active
Size
4,144 SF
Property subtype
Multi-Family
Net Operating Income
$55,554
Additional Details
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$1,882
Amenities
Yes
Laminate, Carpet, Vinyl
True
Brick, Block
Building Details
Year Built
1960
Tenancy
Multi
Listing Agency:
Southland Brokers
(865) 466-7240
Listed By:
Raj Cheema
Source:
Compass
Added: Aug 7, 2024
Changed: Aug 29
Last Checked: Aug 29 at 3:46PM
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 Southland Brokers
Investment Insights
Based on property information with market context.
This mixed-use building at 512 North Roane Street combines a commercial storefront with efficiency residential accommodations. The commercial space is currently operating as a hair salon, while interior finishes include laminate, carpet, and vinyl. Brick and block construction supports the building’s established physical character, and a new roof was completed at the end of 2024.
Located in downtown Harriman, Tennessee, the property measures 4,144 square feet and was built in 1960. Water service is paid by the landlord, while tenants are responsible for their own electric service. The combination of commercial and residential components creates a single property with multiple occupancy types.
Located in downtown Harriman, Tennessee, the property measures 4,144 square feet and was built in 1960. Water service is paid by the landlord, while tenants are responsible for their own electric service. The combination of commercial and residential components creates a single property with multiple occupancy types.
Key Highlights
- 4,144‑square‑foot mixed‑use property at 512 North Roane Street
- Commercial space currently operating as a hair salon
- Efficiency residential accommodations included
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
$45,252
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
7.97%
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%
$905,040
$905.0K
Cap Rate 7%
$646,457
$646.5K
Cap Rate 9%
$502,800
$502.8K
Market Conditions
NOI Build-Up for 4,144 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
$79.6K $19.20/SF
− Vacancy
−$7.2K −$1.73/SF
EGI
$72.4K $17.47/SF
− OpEx
−$27.2K −$6.55/SF
NOI
$45.3K $10.92/SF
Area
Roane County, TN
Vacancy
9.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
37.50%
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%
$905,040
Cap Rate 7%
$646,457
Cap Rate 9%
$502,800
Alternative Uses
Best Use
Retail
$850.3K
$744.1K – $992.1K
NOI $59,524 @ 7.0% cap · market cap 10.49%
Second Best
Mixed Use
$646.5K
$565.7K – $754.2K
NOI $45,252 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$1.03M
$898.1K – $1.20M
NOI $71,847 @ 7.0% cap · market cap 12.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Explore this area
Business Placement
Demographics for 37748, TN
17,227
Population
8,208
Households
2.1
Avg Household Size
45
Median Age
20%
College-Educated
87%
High-School Grad
106.6 sq mi
ZIP Area
162
Density / Sq Mi
$58,649
Median Household Income
$40,155
Median Earnings
$760
Median Rent
$173,600
Median Home Value
Market
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 - Brick-and-block building combines a hair salon with efficiency residential space.
Where is this mixed-use property located?
The property is located at 512 North Roane Street Harriman, TN.
What is the asking price?
The asking price for this property is $567,500.
What are key features of this property?
This property features: 4,144‑square‑foot mixed‑use property at 512 North Roane Street; Commercial space currently operating as a hair salon; Efficiency residential accommodations included
