Automotive Repair and Parts
For Sale
$900,000
1490 Spring Place Road, Cleveland, TN 37311
Commercial garage and salvage yard facility on 4.2 acres with a 2,700 SF building and six-bay shop.
Property Size2,700 SF
Lot Size4.20 Acres
Price / SF$333.33
Days on Market301
Property Features for 1490 Spring Place Road
General Information
Standard status
Active
Size
2,700 SF
Lot size
4.20 Acres
Property subtype
Mixed Use
Site & Location
Traffic Count
19,513 vehicles/day
Road Access
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Additional Details
Service Bays
6
Taxes and HOA fees
Annual Taxes
$2,702
Amenities
3
Asphalt.
307x366x368x502x99x102
Paved Road, Public Roads, Interstate Access, State Road, Asphalt, City Road.
Building Details
Year Built
1964
Listing Agency:
Lee Hwy
(423) 453-2077
Listed By:
Chattanooga
(423) 453-2077
Source:
Xome
Added: Oct 15, 2025
Changed: Aug 7
Last Checked: Aug 11 at 5:01AM
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 Lee Hwy
Investment Insights
Based on property information with market context.
This commercial automotive repair and parts facility on 4.2 acres includes an approximately 2,700 SF building with an office, restroom, and a six-bay shop. The property is described as having grandfathered status, which supports continued use as either an auto parts retail location or a salvage/used parts yard and store.
The site is located on heavily traveled Spring Place Road in Cleveland, TN, with traffic reported as approximately 19,513 vehicles per day (approximate).
Public utilities listed include natural gas, electricity, public water, and public sewer. The seller also indicated consideration of including a tow truck with a full-price offer and may consider partial owner financing with a down payment and a balloon payment in three years. Seller may consider transferring a state license to resell used autos, and would not sign a non-compete.
The site is located on heavily traveled Spring Place Road in Cleveland, TN, with traffic reported as approximately 19,513 vehicles per day (approximate).
Public utilities listed include natural gas, electricity, public water, and public sewer. The seller also indicated consideration of including a tow truck with a full-price offer and may consider partial owner financing with a down payment and a balloon payment in three years. Seller may consider transferring a state license to resell used autos, and would not sign a non-compete.
Key Highlights
- 4.2‑acre commercial property with an approx. 2,700 SF building on Spring Place Rd SE in Cleveland, TN.
- Six‑bay shop setup with an office and restroom—suited for repair work, dismantling, and parts storage.
- Grandfathered zoning supports continued use as an auto parts retail location or a salvage/used parts yard and store.
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
$25,515
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
2.84%
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%
$510,300
$510.3K
Cap Rate 7%
$364,500
$364.5K
Cap Rate 9%
$283,500
$283.5K
Market Conditions
NOI Build-Up for 2,700 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
$40.5K $15.00/SF
− Vacancy
−$4.1K −$1.50/SF
EGI
$36.5K $13.50/SF
− OpEx
−$10.9K −$4.05/SF
NOI
$25.5K $9.45/SF
Area
Bradley County, TN
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$510,300
Cap Rate 7%
$364,500
Cap Rate 9%
$283,500
Alternative Uses
Best Use
Retail
$364.5K
$318.9K – $425.3K
NOI $25,515 @ 7.0% cap · market cap 2.84%
Second Best
Industrial
$203.9K
$178.4K – $237.8K
NOI $14,270 @ 7.0% cap · market cap 1.59%
Theoretical Best
Office A
$566.5K
$495.7K – $661.0K
NOI $39,658 @ 7.0% cap · market cap 4.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Service bays
19,513 VPD
Traffic count
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
125k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 46%
Groceries 34%
Shops & Services 20%
Food City
Groceries
33,232 visits/mo
0.4 miles
McDonald's
Dining
23,631 visits/mo
0.4 miles
Wendy's
Dining
16,040 visits/mo
0.5 miles
AutoZone
Shops & Services
12,643 visits/mo
0.5 miles
Hardee's
Dining
9,521 visits/mo
0.5 miles
Demographics for 37311, TN
29,687
Population
12,942
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
50.1 sq mi
ZIP Area
593
Density / Sq Mi
$46,827
Median Household Income
$28,839
Median Earnings
$890
Median Rent
$205,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Auto Center Out Door Living — Cleveland, TN 37323
- Walmart Auto Care Centers — 2300 Treasury Dr SE, Cleveland, TN 37323
- Los AMA2 auto repair and body shop — 2226 Spring Place Rd SE, Cleveland, TN 37323
- Auto Experts — 2265 Spring Place Rd SE, Cleveland, TN 37323
- Wentworth Detailing and Auto Care — 2206 Dalton Pike SE, Cleveland, TN 37311
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial garage and salvage yard facility on 4.2 acres with a 2,700 SF building and six-bay shop.
Where is this auto shop located?
The property is located at 1490 Spring Place Road Cleveland, TN.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 4.2‑acre commercial property with an approx. 2,700 SF building on Spring Place Rd SE in Cleveland, TN.; Six‑bay shop setup with an office and restroom—suited for repair work, dismantling, and parts storage.; Grandfathered zoning supports continued use as an auto parts retail location or a salvage/used parts yard and store.
