Listing Agency: Whitetail Properties Real Estate, LLC

Listed By: Tim Burnette · License #311366 Show Phone

Source: Moodyscre

Added: Feb 16 Changed: Aug 8 Last Checked: Sep 14 at 9:40AM

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Investment Insights

Based on property information with market context.

Turn-key, ready-to-operate restaurant offering a complete build-out for immediate service. The 2,000-square-foot building includes an approved seating setup for 50 guests inside and out, supported by a commercial kitchen featuring a double-stacked pizza conveyor oven, large refrigerator/freezer, three-bay sink, commercial vent hoods, beer and beverage coolers, and warming fixtures. The dining area is equipped with five flat-screen TVs, and there is a rear storage shed for additional supplies and equipment.

The property is located just off an I-75 exit with easy interstate access and a large lighted sign for visibility. The site also offers ample parking out front, supporting convenient customer arrival and pickup.

For day-one operations, the space is fully equipped and described as approved for immediate restaurant use, with the kitchen systems and storage in place to support ongoing service.

Key Highlights

• 2,000 SF restaurant building fully equipped for immediate operation
• Approved for 50 seats inside and out
• Commercial kitchen includes double‑stacked pizza conveyor oven, refrigerator/freezer, 3‑bay sink, and commercial vent hoods

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

$33,521

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

5.16%

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%

$670,420 $670.4K

Cap Rate 7%

$478,871 $478.9K

Cap Rate 9%

$372,456 $372.5K

Market Conditions

NOI Build-Up for 2,000 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

$46.8K $23.40/SF

− Vacancy

−$2.1K −$1.05/SF

EGI

$44.7K $22.35/SF

− OpEx

−$11.2K −$5.59/SF

NOI

$33.5K $16.76/SF

Area

Campbell County, TN

Vacancy

4.50%

Lease Rate

$23.40 /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%

$670,420

Cap Rate 7%

$478,871

Cap Rate 9%

$372,456

Alternative Uses

Best Use

Specialty Retail

$478.9K

$419.0K – $558.7K (±1% cap)

NOI $33,521 @ 7.0% cap · market cap 5.16%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$495.4K

$433.4K – $577.9K (±1% cap)

NOI $34,675 @ 7.0% cap · market cap 5.33%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Conventional restaurants

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 37847, TN

2,602

Population

1,182

Households

2.2

Avg Household Size

42

Median Age

10%

College-Educated

73%

High-School Grad

146.0 sq mi

ZIP Area

18

Density / Sq Mi

$48,333

Median Household Income

$33,076

Median Earnings

$641

Median Rent

$109,300

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Conventional restaurant - Fully equipped restaurant building with commercial kitchen, TVs, and ample front parking.

Where is this conventional restaurant located?

The property is located at 277 Luther Seiber Blvd Pioneer, TN.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: 2,000 SF restaurant building fully equipped for immediate operation; Approved for 50 seats inside and out; Commercial kitchen includes double‑stacked pizza conveyor oven, refrigerator/freezer, 3‑bay sink, and commercial vent hoods