Building Details

Year Built 2023

Listing Agency: w***@tranzon.com Show Phone

Listed By: Wyatt Show Phone

Added: Dec 22, 2025 Changed: Mar 16

Report an Issue

Investment Insights

Based on property information with market context.

This commercial property, constructed in 2023, features a 20,400 square foot building situated on an 8.2-acre lot. The property includes a 9-bay self-serve car wash, also built in 2023. The building's layout comprises a showroom, office space, six service bays, and a mezzanine. It is zoned for commercial use and has full utilities connected. The building features 6-inch concrete and asphalt, fifteen 12x14 doors, an 8x10 roll-up door, and 20-foot walls. It includes five bathrooms and one shower. The property is equipped with R28 roof insulation, LED lights, five 9200-pound lifts, a firewall, and 3-phase power. Radiant heat is installed in the concrete with 3 zones, and the car wash has a radiant heat setup. An oil/water separator is present in both the building and the car wash. The property is located in a high-growth area with tourism and outdoor traffic, just north of Knoxville near Norris Lake, with excellent interstate visibility and access from I-75 Exit 141. It is suitable for retail, service, industrial, or mixed-use purposes.

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

$222,768

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

8.91%

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%

$4,455,360 $4.5M

Cap Rate 7%

$3,182,400 $3.2M

Cap Rate 9%

$2,475,200 $2.5M

Market Conditions

NOI Build-Up for 20,400 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

$391.7K $19.20/SF

− Vacancy

−$35.3K −$1.73/SF

EGI

$356.4K $17.47/SF

− OpEx

−$133.7K −$6.55/SF

NOI

$222.8K $10.92/SF

Area

Campbell 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%

$4,455,360

Cap Rate 7%

$3,182,400

Cap Rate 9%

$2,475,200

Alternative Uses

Best Use

Specialty Retail

$4.88M

$4.27M – $5.70M (±1% cap)

NOI $341,909 @ 7.0% cap · market cap 13.68%

Second Best

Retail

$4.19M

$3.66M – $4.88M (±1% cap)

NOI $293,026 @ 7.0% cap · market cap 11.72%

Theoretical Best

Office A

$5.05M

$4.42M – $5.89M (±1% cap)

NOI $353,687 @ 7.0% cap · market cap 14.15%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Retail properties & Spaces

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Explore this area Business Placement

Demographics for 37847, TN

2,602

Population

1,182

Households

2.2

Avg Household Size

42

Median Age

10%

College-Educated

73%

High-School Grad

146.0 sq mi

ZIP Area

18

Density / Sq Mi

$48,333

Median Household Income

$33,076

Median Earnings

$641

Median Rent

$109,300

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercial/Retail Property

Where is this mixed-use property located?

The property is located at 141 Luther Seiber Blvd Pioneer, TN.

What is the asking price?

The asking price for this property is $2,500,000.