Flex Shop
For Sale
$349,900
241 1st Street SW, Cleveland, TN 37311
Existing shop equipment supports trade, light industrial, and service uses.
Property Size3,980 SF
Days on Market80
Property Features for 241 1st Street SW
General Information
Standard status
Active
Size
3,980 SF
Property subtype
Office
Building Details
Building Size
3,980 SF
Year Built
1972
Buildings
1
Listing Agency:
EXIT Provision Realty
Listed By:
Dennis Opp · License #320959
(423) 240-0231
Source:
Gracefrankgroup
Added: Jul 31
Changed: Oct 14
Last Checked: Oct 16 at 2:22PM
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 EXIT Provision Realty
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Investment Insights
Based on property information with market context.
Built in 1972, this flex property is configured as a commercial shop building with adaptable space for trade, light industrial, contractor, and service operations. Select shop equipment and related assets remain with the property, adding functional resources for a range of business applications.
The building is positioned in downtown Cleveland within an established commercial corridor and offers access to major corridors. Its location and shop-oriented layout support businesses seeking a central operating base with flexible commercial functionality.
The building is positioned in downtown Cleveland within an established commercial corridor and offers access to major corridors. Its location and shop-oriented layout support businesses seeking a central operating base with flexible commercial functionality.
Key Highlights
- 1972‑built flex property in downtown Cleveland
- Shop building suited to trade, light industrial, contractor, and service operations
- Select shop equipment and related assets remain with the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,036
Cap Rate
6.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$420,720
$420.7K
Cap Rate 7%
$300,514
$300.5K
Cap Rate 9%
$233,733
$233.7K
Market Conditions
NOI Build-Up for 3,980 SF
Gross rent
$30.9K $7.76/SF
− Vacancy
−$834 −$0.21/SF
EGI
$30.1K $7.55/SF
− OpEx
−$9.0K −$2.27/SF
NOI
$21.0K $5.29/SF
Area
Bradley County, TN
Vacancy
2.70%
Lease Rate
$7.76 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$420,720
Cap Rate 7%
$300,514
Cap Rate 9%
$233,733
Alternative Uses
Best Use
Industrial
$300.5K
$263.0K – $350.6K
NOI $21,036 @ 7.0% cap · market cap 6.01%
Second Best
Flex RnD
$268.1K
$234.6K – $312.8K
NOI $18,766 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$835.1K
$730.7K – $974.3K
NOI $58,458 @ 7.0% cap · market cap 16.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,192
Businesses Nearby
Balanced
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Firehouse Subs Village Green — 201 Keith St SW Ste 18, Cleveland, TN 37311
- Alshabibi Catering — 260 Broad St NW, Cleveland, TN 37311
Frequently Asked Questions
What type of property is this?
Flex space - Existing shop equipment supports trade, light industrial, and service uses.
Where is this flex space located?
The property is located at 241 1st Street SW Cleveland, TN.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 1972‑built flex property in downtown Cleveland; Shop building suited to trade, light industrial, contractor, and service operations; Select shop equipment and related assets remain with the property
