Mixed-Use Property in South
For Sale
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307 Elm Ave, South Pittsburg, TN 37380
Multi-use property with industrial, retail, and residential spaces.
Property Size5,620 SF
Price / SF$103.19
Days on Market143
Property Features for 307 Elm Ave
General Information
Standard status
Active
Size
5,620 SF
Class
C
Property subtype
Multifamily, Office, Retail
Zoning
C-3
Investment Type
Owner/User
Building Details
Year Built
53
Buildings
1
Stories
1
Units
1
Listing Agency:
Better Homes and Gardens Real Estate Signature Brokers
(423) 503-5949
Listed By:
Celeste West-Dobbins · License #281506
Source:
Crexi
Added: Mar 22
Changed: Aug 8
Last Checked: Aug 11 at 5:57AM
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 Better Homes and Gardens Real Estate Signature Brokers
Investment Insights
Based on property information with market context.
This multi-use property is located on Elm Ave in downtown South Pittsburg. The 5,620 square foot property includes industrial, commercial, warehouse, multi-family, retail, and residential income spaces. It features two private garages, a two-bedroom, one-bathroom apartment, and two retail spaces. The apartment has been fully renovated and includes a full kitchen. Two recently installed HVAC units serve the property. The property is within walking distance of the local elementary and high school, post office, the American Legion Hall, City Hall, the Police Station, Lodge Cast Iron Manufacturing, and local restaurants and shops.
Key Highlights
- Multi‑use property: Industrial/Commercial/Warehouse, Multi‑Family (2BR/1BA), and Retail spaces.
- Prime downtown location on Elm Ave in South Pittsburg.
- Two retail spaces facing Elm Ave.**
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
$49,510
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
8.54%
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%
$990,200
$990.2K
Cap Rate 7%
$707,286
$707.3K
Cap Rate 9%
$550,111
$550.1K
Market Conditions
NOI Build-Up for 5,620 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
$95.8K $17.04/SF
− Vacancy
−$5.7K −$1.02/SF
EGI
$90.0K $16.02/SF
− OpEx
−$40.5K −$7.21/SF
NOI
$49.5K $8.81/SF
Area
Marion County, TN
Vacancy
6.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
45.00%
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%
$990,200
Cap Rate 7%
$707,286
Cap Rate 9%
$550,111
Alternative Uses
Best Use
Mixed Use
$886.4K
$775.6K – $1.03M
NOI $62,045 @ 7.0% cap · market cap 10.70%
Second Best
Apartment 5plus
$707.3K
$618.9K – $825.2K
NOI $49,510 @ 7.0% cap · market cap 8.54%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,884 @ 7.0% cap · market cap 14.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Explore this area
Business Placement
Demographics for 37380, TN
6,305
Population
2,906
Households
2.2
Avg Household Size
45
Median Age
11%
College-Educated
80%
High-School Grad
126.2 sq mi
ZIP Area
50
Density / Sq Mi
$53,160
Median Household Income
$31,146
Median Earnings
$921
Median Rent
$185,000
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Multi-use property with industrial, retail, and residential spaces.
Where is this mixed-use property located?
The property is located at 307 Elm Ave South Pittsburg, TN.
What is the asking price?
The asking price for this property is $579,900.
What are key features of this property?
This property features: Multi‑use property: Industrial/Commercial/Warehouse, Multi‑Family (2BR/1BA), and Retail spaces.; Prime downtown location on Elm Ave in South Pittsburg.; Two retail spaces facing Elm Ave.**
