Fenced Warehouse with
For Sale
$985,000
3135 Harrison Pike, Cleveland, TN 37311
Industrial facility combines administrative areas, storage, specialty equipment, and a separate electrified pole-barn building.
Property Size4,950 SF
Days on Market18
Property Features for 3135 Harrison Pike
General Information
Standard status
Active
Size
4,950 SF
Property subtype
Warehouse
Warehouse & Industrial
Warehouse Space
4,950 SF
Voltage
480 V
Three-Phase Power
Yes
Additional Details
Fenced Yard
Yes
Amenities
security system
Building Details
Building Size
4,950 SF
Year Built
2008
Buildings
2
Listing Agency:
Bender Realty LLC
(423) 715-0030
Listed By:
Dwight Richardson · License #225676
(423) 715-0030
Source:
Gracefrankgroup
Added: Aug 14
Changed: Aug 23
Last Checked: Aug 30 at 11:17PM
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 Bender Realty LLC
Investment Insights
Based on property information with market context.
Built in 2008, the property includes a 4,950-square-foot warehouse arranged with three offices, a reception area, common space, and one full bath. A half bath is located within the warehouse. Storage extends above the office area and includes a separate meeting room. Building equipment includes an Ingresol-Rand built-in air compressor, car lift, 480-volt three-phase power, and a security system.
Additional improvements include a 1,188-square-foot exterior canopy and a 40-by-80-foot pole-barn building with electricity and 20-foot open doors. The entire property is fenced, providing a defined operating area for warehouse and storage uses.
Additional improvements include a 1,188-square-foot exterior canopy and a 40-by-80-foot pole-barn building with electricity and 20-foot open doors. The entire property is fenced, providing a defined operating area for warehouse and storage uses.
Key Highlights
- 4,950‑square‑foot warehouse built in 2008
- Three offices, reception area, common space, meeting room, and two baths
- 480‑volt three‑phase power, built‑in air compressor, car lift, and security system
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
$31,769
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
3.23%
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%
$635,380
$635.4K
Cap Rate 7%
$453,843
$453.8K
Cap Rate 9%
$352,989
$353.0K
Market Conditions
NOI Build-Up for 4,950 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
$38.4K $7.76/SF
− Vacancy
−$1.0K −$0.21/SF
EGI
$37.4K $7.55/SF
− OpEx
−$5.6K −$1.13/SF
NOI
$31.8K $6.42/SF
Area
Bradley County, TN
Vacancy
2.70%
Lease Rate
$7.76 /SF/Yr
Expense Ratio
15.00%
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%
$635,380
Cap Rate 7%
$453,843
Cap Rate 9%
$352,989
Alternative Uses
Best Use
Warehouse
$453.8K
$397.1K – $529.5K
NOI $31,769 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$908.8K – $1.21M
NOI $72,706 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Balanced
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial facility combines administrative areas, storage, specialty equipment, and a separate electrified pole-barn building.
Where is this warehouse located?
The property is located at 3135 Harrison Pike Cleveland, TN.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: 4,950‑square‑foot warehouse built in 2008; Three offices, reception area, common space, meeting room, and two baths; 480‑volt three‑phase power, built‑in air compressor, car lift, and security system
