Two-Building Flex Industrial
For Sale
$1,390,000
193 Industrial Way SW, Cleveland, TN 37311
Separate buildings provide office amenities, drive-in access, and a rear lot for trucks or equipment.
Property Size7,800 SF
Price / SF$178.21
Days on Market133
Property Features for 193 Industrial Way SW
General Information
Standard status
Active
Size
7,800 SF
Property subtype
Warehouse
Site & Location
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Drive-In Doors
4
Three-Phase Power
Yes
Building Details
Building Size
7,800 SF
Year Built
2019
Buildings
2
Listing Agency:
Bender Realty LLC
Listed By:
James Metzger · License #277658
(423) 385-0585
Source:
Gracefrankgroup
Added: Jun 5
Changed: Oct 1
Last Checked: Oct 15 at 6:58AM
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 Bender Realty LLC
Investment Insights
Based on property information with market context.
This flex industrial property includes two buildings totaling 7,800 square feet, with 3,000 square feet in the first building and 4,800 square feet in the second. Each building offers several offices, a reception area, full bathrooms with showers serving the office areas, and a half bath within the warehouse space. Both structures feature two 12-foot drive-in doors and 14-foot eave heights. The property was built in 2019.
Concrete paving surrounds the front and sides of both buildings, with completion of the paving at the 4,800-square-foot building expected around the end of June. Three-phase power is available on site. A large gravel rear lot provides space for trucks or equipment. The property is located at 193 Industrial Way in Cleveland, Tennessee.
Concrete paving surrounds the front and sides of both buildings, with completion of the paving at the 4,800-square-foot building expected around the end of June. Three-phase power is available on site. A large gravel rear lot provides space for trucks or equipment. The property is located at 193 Industrial Way in Cleveland, Tennessee.
Key Highlights
- 7,800 total square feet across two buildings: 3,000 square feet and 4,800 square feet
- Each building includes two 12' drive‑in doors and 14 ft eave heights
- Office areas feature reception spaces, several offices, and full bathrooms with showers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,060
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,001,200
$1.0M
Cap Rate 7%
$715,143
$715.1K
Cap Rate 9%
$556,222
$556.2K
Market Conditions
NOI Build-Up for 7,800 SF
Gross rent
$60.5K $7.76/SF
− Vacancy
−$1.6K −$0.21/SF
EGI
$58.9K $7.55/SF
− OpEx
−$8.8K −$1.13/SF
NOI
$50.1K $6.42/SF
Area
Bradley County, TN
Vacancy
2.70%
Lease Rate
$7.76 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,001,200
Cap Rate 7%
$715,143
Cap Rate 9%
$556,222
Alternative Uses
Best Use
Warehouse
$715.1K
$625.8K – $834.3K
NOI $50,060 @ 7.0% cap · market cap 3.60%
Second Best
Industrial
$588.9K
$515.3K – $687.1K
NOI $41,226 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,566 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
81
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Separate buildings provide office amenities, drive-in access, and a rear lot for trucks or equipment.
Where is this flex space located?
The property is located at 193 Industrial Way SW Cleveland, TN.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: 7,800 total square feet across two buildings: 3,000 square feet and 4,800 square feet; Each building includes two 12' drive‑in doors and 14 ft eave heights; Office areas feature reception spaces, several offices, and full bathrooms with showers
