Mixed-Use Building with Separate
For Sale
$330,000
270 Central Avenue NW, Cleveland, TN 37311
Commercial space is paired with a lower-level apartment and independent access for flexible live-work use.
Property Size2,714 SF
Days on Market140
Property Features for 270 Central Avenue NW
General Information
Standard status
Active
Size
2,714 SF
Property subtype
Mixed Use
Building Details
Building Size
2,714 SF
Year Built
1938
Listing Agency:
Crye-Leike - Cleveland
Listed By:
Cindy Chase · License #282144
(423) 595-1308
Source:
Gracefrankgroup
Added: May 29
Changed: Oct 11
Last Checked: Oct 15 at 5:35AM
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 Crye-Leike - Cleveland
Investment Insights
Based on property information with market context.
This 2714-square-foot mixed-use property combines a commercial main level with a separate lower-level apartment. The upper space offers a flexible layout suitable for retail, office, studio, or service-oriented operations, with large windows that bring in natural light. A distinct entrance serves the lower unit and supports separation between the two areas.
Constructed in 1938, the property is located at 270 Central Avenue Northwest in Cleveland, Tennessee. The lower unit has previously been used for both commercial and residential leasing, while the overall configuration supports a combination of business and living space. Exterior features include shingle construction and no dock.
Constructed in 1938, the property is located at 270 Central Avenue Northwest in Cleveland, Tennessee. The lower unit has previously been used for both commercial and residential leasing, while the overall configuration supports a combination of business and living space. Exterior features include shingle construction and no dock.
Key Highlights
- 2714 square feet of mixed‑use space
- Main level configured for retail, office, studio, or service‑oriented use
- Lower‑level apartment with separate entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,044
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
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
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 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 9.10%
Second Best
Mixed Use
$392.6K
$343.5K – $458.0K
NOI $27,479 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$569.5K
$498.3K – $664.4K
NOI $39,863 @ 7.0% cap · market cap 12.08%
Zoning and permitted uses should be independently verified with authorities.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space is paired with a lower-level apartment and independent access for flexible live-work use.
Where is this mixed-use property located?
The property is located at 270 Central Avenue NW Cleveland, TN.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 2714 square feet of mixed‑use space; Main level configured for retail, office, studio, or service‑oriented use; Lower‑level apartment with separate entrance
