Live-Work Mixed-Use
For Sale
$350,000
270 Central Avenue, Cleveland, TN 37311
Main-level commercial space with large windows and a flexible layout, plus a downstairs apartment with a separate entrance.
Property Size2,714 SF
Price / SF$128.96
Days on Market175
Property Features for 270 Central Avenue
General Information
Standard status
Active
Size
2,714 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$2,663
Amenities
Central Air
3
Asphalt.
Level
47x110x47x110
Rain Gutters. City Road, Asphalt, Level.
Building Details
Year Built
1938
Listing Agency:
(423) 595-1308
Listed By:
Cleveland
(423) 595-1308
Source:
Xome
Added: Feb 14
Changed: Aug 7
Last Checked: Aug 8 at 3:37AM
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 Cleveland
Investment Insights
Based on property information with market context.
This live-work mixed-use property combines a main-level commercial space with a residential unit below. The primary level is described as spacious and functional, with large windows for natural light and a flexible layout that can support retail, office, studio, or service-oriented business use. Below the commercial area is a well-designed, efficient apartment.
The apartment has its own separate entrance, providing added privacy and convenience for an owner-occupied live/work arrangement or for renting the unit to help offset operating costs.
Located at 270 Central Avenue NW in Cleveland, TN, the property is being offered for sale and is positioned for buyers seeking an integrated workspace-and-living configuration.
The apartment has its own separate entrance, providing added privacy and convenience for an owner-occupied live/work arrangement or for renting the unit to help offset operating costs.
Located at 270 Central Avenue NW in Cleveland, TN, the property is being offered for sale and is positioned for buyers seeking an integrated workspace-and-living configuration.
Key Highlights
- Commercial property with income‑producing residential space, combining main‑level business use with a downstairs apartment
- Main‑level commercial area with large windows and a flexible layout for retail, office, studio, or service‑oriented businesses
- Downstairs apartment with a separate entrance, supporting owner‑occupied live/work or rental 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
$30,044
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
8.58%
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%
$600,880
$600.9K
Cap Rate 7%
$429,200
$429.2K
Cap Rate 9%
$333,822
$333.8K
Market Conditions
NOI Build-Up for 2,714 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
$48.9K $18.00/SF
− Vacancy
−$8.8K −$3.24/SF
EGI
$40.1K $14.76/SF
− OpEx
−$10.0K −$3.69/SF
NOI
$30.0K $11.07/SF
Area
Bradley County, TN
Vacancy
18.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$600,880
Cap Rate 7%
$429,200
Cap Rate 9%
$333,822
Alternative Uses
Best Use
Office B
$429.2K
$375.6K – $500.7K
NOI $30,044 @ 7.0% cap · market cap 8.58%
Second Best
Mixed Use
$392.6K
$343.5K – $458.0K
NOI $27,479 @ 7.0% cap · market cap 7.85%
Theoretical Best
Office A
$569.5K
$498.3K – $664.4K
NOI $39,863 @ 7.0% cap · market cap 11.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,230
Businesses Nearby
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
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?
Live-work space - Main-level commercial space with large windows and a flexible layout, plus a downstairs apartment with a separate entrance.
Where is this live-work space located?
The property is located at 270 Central Avenue Cleveland, TN.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Commercial property with income‑producing residential space, combining main‑level business use with a downstairs apartment; Main‑level commercial area with large windows and a flexible layout for retail, office, studio, or service‑oriented businesses; Downstairs apartment with a separate entrance, supporting owner‑occupied live/work or rental use
