Flex Space With Tiny
For Sale
$235,000
13329 Highway 28, Whitwell, TN 37397
Commercial property combines an open flex building with an on-site tiny home and outdoor space.
Property Size1,300 SF
Lot Size0.50 Acres
Price / SF$121.76
Days on Market18
Property Features for 13329 Highway 28
General Information
Standard status
Active
Size
1,300 SF
Lot size
0.50 Acres
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$875
Building Details
Buildings
2
Building Size
1,300 SF
Listing Agency:
Real Estate Partners Chattanooga LLC
(423) 664-3074
Listed By:
Gregory Depasquale · License #TN357488
(423) 664-3074
Source:
Exprealty
Added: Aug 5
Changed: Aug 21
Last Checked: Aug 21 at 10:42AM
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 Real Estate Partners Chattanooga LLC
Investment Insights
Based on property information with market context.
This flex property includes a 1,300± square foot open-layout building and a separate 600± square foot tiny home on approximately 0.5 acres. The commercial building is described for office, warehouse, workshop, retail, studio, or light industrial applications. Outdoor areas and parking accommodate equipment, trailers, inventory, or other business needs. The tiny home provides on-site residential space and may also function as rental, guest, or office space.
The property fronts Highway 28 at 13329 Highway 28 in Whitwell, Tennessee. It is located minutes from downtown Whitwell and within a short drive of Chattanooga. The combined property size is listed as 1,930 square feet, with both commercial and residential improvements included.
The property fronts Highway 28 at 13329 Highway 28 in Whitwell, Tennessee. It is located minutes from downtown Whitwell and within a short drive of Chattanooga. The combined property size is listed as 1,930 square feet, with both commercial and residential improvements included.
Key Highlights
- 1,300± square foot open‑layout flex building
- Separate 600± square foot tiny home
- Approximately 0.5 acres with Highway 28 frontage
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
$21,307
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
9.07%
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%
$426,140
$426.1K
Cap Rate 7%
$304,386
$304.4K
Cap Rate 9%
$236,744
$236.7K
Market Conditions
NOI Build-Up for 1,930 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
$37.1K $19.20/SF
− Vacancy
−$3.0K −$1.54/SF
EGI
$34.1K $17.66/SF
− OpEx
−$12.8K −$6.62/SF
NOI
$21.3K $11.04/SF
Area
Sequatchie County, TN
Vacancy
8.00%
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%
$426,140
Cap Rate 7%
$304,386
Cap Rate 9%
$236,744
Alternative Uses
Best Use
Office B
$316.4K
$276.8K – $369.1K
NOI $22,147 @ 7.0% cap · market cap 9.42%
Second Best
Mixed Use
$304.4K
$266.3K – $355.1K
NOI $21,307 @ 7.0% cap · market cap 9.07%
Theoretical Best
Office A
$426.2K
$373.0K – $497.3K
NOI $29,837 @ 7.0% cap · market cap 12.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37397, TN
9,928
Population
4,709
Households
2.1
Avg Household Size
44
Median Age
14%
College-Educated
80%
High-School Grad
149.3 sq mi
ZIP Area
66
Density / Sq Mi
$55,776
Median Household Income
$33,569
Median Earnings
$754
Median Rent
$160,700
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?
Flex space - Commercial property combines an open flex building with an on-site tiny home and outdoor space.
Where is this flex space located?
The property is located at 13329 Highway 28 Whitwell, TN.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 1,300± square foot open‑layout flex building; Separate 600± square foot tiny home; Approximately 0.5 acres with Highway 28 frontage
