Six-Bay Auto
For Sale
$900,000
1490 Spring Place Road SE, Cleveland, TN 37311
COMMERCIAL - Cleveland, TN
Property Size2,700 SF
Lot Size4.68 Acres
Price / SF$333.33
Days on Market259
Property Features for 1490 Spring Place Road SE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
600
Security features
Security Lighting
Lot features
Wooded, Cleared, Wooded, Cleared
Elementary school
Blythe-Bower
Middle school
Cleveland
High school
Cleveland
Directions
Start at Bradley County Courthouse on N. Ocoee St (downtown Cleveland). Head south (or southeast) out of downtown toward the eastern part of town. Merge onto Tennessee State Route 74 (Spring Place Road SE) -- heading out of Cleveland. Stay on SR-74 / Spring Place Road SE for Watch for 1490 Spring Place Road SE along SR-74.
Standard status
Active
APN
057m D 00300 000
Size
2,700 SF
Lot size
4.68 Acres
Taxes and HOA fees
Tax Annual Amount
2702
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Water source
Public
Amenities
office
restroom
Building Details
Year built
1964
Flooring type
Concrete
Building materials
Block
Roof type
Shingle
Listing Agency:
Keller Williams Realty - Chattanooga - Lee Hwy
(423) 664-1600
Listed By:
Teresa Mustar · License #344895
(423) 453-2077
Added: Dec 2, 2025
Changed: Aug 4
Last Checked: Aug 18 at 10:06PM
MLS# 20255636
Copyright © 2026 River Counties 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 automotive property includes an approximately 2,700-square-foot block building constructed in 1964. The layout provides an office, restroom, concrete flooring, and six shop bays, offering an established configuration for vehicle-related operations. The 4.68-acre site combines two parcels and includes a shingle roof, natural gas availability, public water, and public sewer.
The property fronts Spring Place Road SE in Cleveland and records an approximate traffic count of 19,513 vehicles daily. Its grandfathered status supports continued operation as an auto parts retail location or salvage and used-parts yard and store. The existing improvements can also accommodate automotive repair, parts sales, towing and recovery, or fleet service uses where consistent with applicable approvals.
The property fronts Spring Place Road SE in Cleveland and records an approximate traffic count of 19,513 vehicles daily. Its grandfathered status supports continued operation as an auto parts retail location or salvage and used-parts yard and store. The existing improvements can also accommodate automotive repair, parts sales, towing and recovery, or fleet service uses where consistent with applicable approvals.
Key Highlights
- 4.68‑acre site comprising Parcel 057 M D 003.00 at 4.22 acres and Parcel 057 M D 002.00 at 0.46 acre
- Approximately 2,700 SF building with office, restroom, and six‑bay shop
- Grandfathered status permits continued auto parts retail or salvage and used‑parts yard and store use
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
312
Businesses Nearby
28k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 72%
Shops & Services 28%
Bojangles' Famous Chicken 'n Biscuits
Dining
11,297 visits/mo
0.5 miles
Domino's Pizza
Dining
4,824 visits/mo
0.4 miles
Shell
Shops & Services
4,496 visits/mo
0.4 miles
Huddle House
Dining
3,791 visits/mo
0.5 miles
Texaco
Shops & Services
3,392 visits/mo
0.4 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
- A&I AUTO SERVICE — 1635 Spring Place Rd SE, Cleveland, TN 37311
- AFFORDABLE AUTO REPAIR — 800 20th st se, cleveland, tn 37311
- Dash Print — 1727 Spring Place Rd SE, Cleveland, TN 37311
- Los AMA2 auto repair and body shop — 2226 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 - Grandfathered commercial status supports automotive parts, salvage, repair, and related service operations.
Where is this auto shop located?
The property is located at 1490 Spring Place Road SE 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: 4.68‑acre site comprising Parcel 057 M D 003.00 at 4.22 acres and Parcel 057 M D 002.00 at 0.46 acre; Approximately 2,700 SF building with office, restroom, and six‑bay shop; Grandfathered status permits continued auto parts retail or salvage and used‑parts yard and store use
