Four-Bay Flex
For Sale
Contact for pricing
1994 Lake City Hwy, Clinton, TN 37716
New warehouse and renovated office improvements occupy a fenced commercial property with paved parking.
Property Size4,400 SF
Lot Size2.40 Acres
Price / SF$113.64
Days on Market217
Property Features for 1994 Lake City Hwy
General Information
Standard status
Active
Size
4,400 SF
Lot size
2.40 Acres
Property subtype
RETAIL
Zoning
C-1
Site & Location
Fenced Yard
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
3,500 SF
Office Build-Out
900 SF
Three-Phase Power
Yes
Additional Details
Office Units
1
Building Details
Year Built
2024
Year Renovated
2024
Buildings
2
Listing Agency:
Southland, REALTORS Commercial
(865) 804-5138
Listed By:
Bill Bower
(865) 804-5138
Source:
Moodyscre
Added: Jan 26
Changed: Aug 30
Last Checked: Aug 30 at 3:19AM
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 Southland, REALTORS Commercial
Investment Insights
Based on property information with market context.
This flex-space property combines a newly constructed warehouse with a renovated office component. The warehouse contains 3,500 square feet, four 12-by-12-foot roll-up doors, and an open shell interior. Electrical service includes 1-phase power, with 3-phase power available at the pole. The approximately 900-square-foot office building includes a reception and office area, one private office, a bathroom, and a kitchenette. Its central heat and air system was replaced in 2024.
The site encompasses 2.4 acres and carries C-1 General Commercial zoning under the Anderson County Zoning code. Access is provided by two entrances, while fencing installed in 2025 encloses the property with two lockable gates. A paved parking area measuring approximately 130 by 140 feet provides room for up to 60 or more cars. The on-site shed does not convey.
The site encompasses 2.4 acres and carries C-1 General Commercial zoning under the Anderson County Zoning code. Access is provided by two entrances, while fencing installed in 2025 encloses the property with two lockable gates. A paved parking area measuring approximately 130 by 140 feet provides room for up to 60 or more cars. The on-site shed does not convey.
Key Highlights
- 4,400 SF property with a 3,500 SF warehouse and approximately 900 SF office
- Warehouse constructed in 2024 with four 12’x12’ roll up doors
- 1‑phase power in place; 3‑phase power available at the pole
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
$38,301
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
7.66%
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%
$766,020
$766.0K
Cap Rate 7%
$547,157
$547.2K
Cap Rate 9%
$425,567
$425.6K
Market Conditions
NOI Build-Up for 4,400 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
$63.4K $14.40/SF
− Vacancy
−$4.4K −$1.01/SF
EGI
$58.9K $13.39/SF
− OpEx
−$20.6K −$4.69/SF
NOI
$38.3K $8.70/SF
Area
Anderson County, TN
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$766,020
Cap Rate 7%
$547,157
Cap Rate 9%
$425,567
Alternative Uses
Best Use
Office B
$831.6K
$727.7K – $970.2K
NOI $58,212 @ 7.0% cap · market cap 11.64%
Second Best
Flex RnD
$547.2K
$478.8K – $638.4K
NOI $38,301 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$1.09M
$953.6K – $1.27M
NOI $76,285 @ 7.0% cap · market cap 15.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37716, TN
25,920
Population
11,461
Households
2.3
Avg Household Size
44
Median Age
20%
College-Educated
94%
High-School Grad
83.5 sq mi
ZIP Area
310
Density / Sq Mi
$61,250
Median Household Income
$40,713
Median Earnings
$887
Median Rent
$220,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - New warehouse and renovated office improvements occupy a fenced commercial property with paved parking.
Where is this flex space located?
The property is located at 1994 Lake City Hwy Clinton, TN.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 4,400 SF property with a 3,500 SF warehouse and approximately 900 SF office; Warehouse constructed in 2024 with four 12’x12’ roll up doors; 1‑phase power in place; 3‑phase power available at the pole
