Versatile Mixed-Use
2500 Executive Park Dr NW Cleveland, TN 37312
2500 Executive Park Dr NW, Cleveland, TN, 37312
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For Sale
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Executive offices, medical offices, and penthouse apartment in prime location.
Property Size4,342 SF
Price / SF$114.92
Days on Market679
Property Features for 2500 Executive Park Dr NW
General Information
- Standard status
- Active
- Size
- 4,342 SF
- Property subtype
- Mixed Use, Office
Building Details
- Year Built
- 1986
Listing Agency
Bridge Real Estate Group
(423) 650-6856
Listed by
Cristy Schuch · License #351771
Source
Crexi
Added: Sep 9, 2024 Checked: Jul 17 at 8:31 am
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 Bridge Real Estate Group
Investment Insights
Based on property information with market context.
This property offers an opportunity to acquire a distinguished building encompassing 4,146 square feet of versatile space. It features executive offices designed to enhance productivity, and medical offices thoughtfully configured for a range of healthcare services. The property also includes a renovated penthouse apartment, a 1,585-square-foot residence ideal for use as a high-end Airbnb with its exclusive, serene environment and views. Situated in a prime location, this property is suitable for professionals, healthcare providers, or investors.
Key Highlights
- Prime and coveted location
- Versatile space of 4,146 square feet suitable for various uses
- Luxurious, renovated 1,585‑square‑foot penthouse apartment
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $78.2k | $18.00 |
| − Vacancy | −$7.8k | −$1.80 |
| EGI | $70.3k | $16.20 |
| − OpEx | −$26.4k | −$6.07 |
| NOI | $44.0k | $10.13 |
4,342 SF · lease $18.00/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$686.7K
$600.8K – $801.1K
NOI $48,066 @ 7.0% cap · market cap 9.63%
Second Best
Mixed Use
$628.0K
$549.5K – $732.7K
NOI $43,963 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$911.1K
$797.2K – $1.06M
NOI $63,775 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Executive offices, medical offices, and penthouse apartment in prime location.
Where is this mixed-use property located?
The property is located at 2500 Executive Park Dr NW Cleveland, TN.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Prime and coveted location; Versatile space of 4,146 square feet suitable for various uses; Luxurious, renovated 1,585‑square‑foot penthouse apartment
