Live-Work Property with Flex
For Sale
$235,000
13329 Tennessee 28, Whitwell, TN 37397
Residential Income, Whitwell, TN
Property Size1,300 SF
Lot Size0.50 Acres
Price / SF$121.76
Days on Market47
Property Features for 13329 Tennessee 28
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 1
Parking features
Driveway
Elementary school
Whitwell Elementary
Middle school
Whitwell Middle
High school
Whitwell High School
Directions
From Chattanooga, take US-27 N to TN-111 S toward Dunlap/Whitwell. Turn left onto TN-28 S. Continue approximately 2 miles. Property is on the right. 13329 TN-28, Whitwell, TN 37397.
Standard status
Active
APN
050h C 039.00
Size
1,930 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Description
Gis 2001 50H C 31.00 Cb
Tax Annual Amount
875
Legal Description
Gis 2001 50H C 31.00 Cb
Utilities
Sewer type
Septic Tank
Cooling system
Central Air
Water source
Public
Building Details
Year built
1979
Number of units
2
Listing Agency:
Real Estate Partners Chattanooga LLC
(423) 265-0088
Listed By:
Gregory Depasquale · License #TN357488
(423) 664-3074
Added: Aug 5
Changed: Sep 12
Last Checked: Sep 20 at 8:06AM
MLS# 1540106
Copyright © 2026 Greater Chattanooga Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This live-work property includes a 1,300+/- square foot flex building and a separate 600+/- square foot tiny home on approximately 0.5 acres. The flex building has an open layout that can accommodate office, warehouse, workshop, retail, studio, or light industrial functions. The tiny home includes a bedroom and bathroom and may serve as an on-site residence, rental, guest quarters, or office, as supported by the property configuration.
Located at 13329 Tennessee 28 in Whitwell, the property has Highway 28 frontage, driveway parking, central air, public water, and a septic tank. The 1930-square-foot property was built in 1979 and includes outdoor space for equipment, trailers, inventory, or other operational needs. Downtown Whitwell is nearby, with Chattanooga described as a short drive away.
Located at 13329 Tennessee 28 in Whitwell, the property has Highway 28 frontage, driveway parking, central air, public water, and a septic tank. The 1930-square-foot property was built in 1979 and includes outdoor space for equipment, trailers, inventory, or other operational needs. Downtown Whitwell is nearby, with Chattanooga described as a short drive away.
Key Highlights
- 1,300+/- square foot flex building with open layout
- 600+/- square foot tiny home with 1 bedroom and 1 bathroom
- 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
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Live-work space - Separate tiny home and open-layout building support combined business and residential use.
Where is this live-work space located?
The property is located at 13329 Tennessee 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 flex building with open layout; 600+/- square foot tiny home with 1 bedroom and 1 bathroom; Approximately 0.5 acres with Highway 28 frontage
