Mixed-Use Live/Work
For Sale
$350,000
270 Central Avenue NW, Cleveland, TN 37311
COMMERCIAL - Cleveland, TN
Property Size2,714 SF
Lot Size0.12 Acres
Price / SF$128.96
Days on Market178
Property Features for 270 Central Avenue NW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Interior features
Storage
Exterior features
Rain Gutters
Appliances
Washer, Dryer, Electric Range, Refrigerator
Lot features
Level, Level
Elementary school
Arnold
Middle school
Cleveland
High school
Cleveland
Directions
25th Street to right on Ocoee, right on Central Avenue, property is on right. Sign on property.
Standard status
Active
APN
049m R 011.00
Size
2,714 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Annual Amount
2663
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1938
Flooring type
Carpet, Vinyl
Building materials
Vinyl Siding
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Crye-Leike REALTORS - Cleveland
(423) 473-9545
Listed By:
Cindy Chase · License #282144
(423) 595-1308
Added: Feb 16
Changed: Aug 4
Last Checked: Aug 13 at 1:06PM
MLS# 20260765
Copyright © 2026 River Counties Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use live/work building combines commercial and residential space within one structure. The main level is described as spacious and functional with large windows and a flexible layout that can support retail, office, studio, or service-oriented business use. The lower unit has a separate entrance for privacy and convenience. The property includes a unit that has been leased out for both commercial and residential use. Interior features include storage.
The building sits on a 0.12-acre lot at 270 Central Avenue NW in Cleveland, Tennessee. Exterior features include rain gutters, and construction is listed as vinyl siding. Heating and cooling are provided by central systems, and the roof is shingle. Utilities are public, with public water and public sewer.
Built in 1938, the property includes appliances such as a washer, dryer, electric range, and refrigerator, along with carpet and vinyl flooring.
The building sits on a 0.12-acre lot at 270 Central Avenue NW in Cleveland, Tennessee. Exterior features include rain gutters, and construction is listed as vinyl siding. Heating and cooling are provided by central systems, and the roof is shingle. Utilities are public, with public water and public sewer.
Built in 1938, the property includes appliances such as a washer, dryer, electric range, and refrigerator, along with carpet and vinyl flooring.
Key Highlights
- Mixed‑use live/work layout with leased commercial and residential unit below
- Separate entrance for the lower unit
- 0.12‑acre lot at 270 Central Avenue NW, Cleveland, TN 37311
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
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
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
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Frequently Asked Questions
What type of property is this?
Live-work space - Mixed-use live/work building with a leased unit below the commercial space, plus public utilities and central HVAC.
Where is this live-work space located?
The property is located at 270 Central Avenue NW 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: Mixed‑use live/work layout with leased commercial and residential unit below; Separate entrance for the lower unit; 0.12‑acre lot at 270 Central Avenue NW, Cleveland, TN 37311
