Listing Agency: CBRE, Inc. Show Phone

Listed By: Brian H. Tapp, SIOR, CCIM Show Phone

Source: Moodyscre

Added: Jan 6 Changed: Oct 26 Last Checked: Oct 30 at 5:55PM

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Investment Insights

Based on property information with market context.

This 14,800 SF industrial facility combines warehouse efficiency with office flexibility. The building includes 8,400 SF of warehouse space with ceiling heights of 19'–22'10", five drive-in doors, and 600-amp, 3-phase power. A 6,400 SF, two-story office component supports administrative, sales, or training use.

The property is situated along Newport Highway between Sevierville and Newport. It sits on 0.8 acres and is zoned I-1, offering a layout suited to owner-occupancy within Sevier County’s industrial market.

Overall, the mix of warehouse area, multiple drive-in doors, and a dedicated two-story office footprint supports operations that benefit from on-site staff and functional space separation.

Key Highlights

• 14,800 SF industrial facility with 8,400 SF warehouse and 6,400 SF two‑story office
• Warehouse ceiling heights of 19'–22'10"
• Five drive‑in doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$142,620

Cap Rate

7.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,852,400 $2.9M

Cap Rate 7%

$2,037,429 $2.0M

Cap Rate 9%

$1,584,667 $1.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 14,800 SF

Gross rent

$213.1K $14.40/SF

− Vacancy

−$9.4K −$0.63/SF

EGI

$203.7K $13.77/SF

− OpEx

−$61.1K −$4.13/SF

NOI

$142.6K $9.64/SF

Area

Sevier County, TN

Vacancy

4.40%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,852,400

Cap Rate 7%

$2,037,429

Cap Rate 9%

$1,584,667

Alternative Uses

Best Use

Office B

$3.00M

$2.62M – $3.50M (±1% cap)

NOI $209,710 @ 7.0% cap · market cap 11.66%

Second Best

Warehouse

$2.47M

$2.16M – $2.89M (±1% cap)

NOI $173,181 @ 7.0% cap · market cap 9.63%

Theoretical Best

Office A

$6.24M

$5.46M – $7.28M (±1% cap)

NOI $436,896 @ 7.0% cap · market cap 24.29%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Summit & Shore Design ... Furniture & Home Goods Virtue Property Development ... Property Management Company Destination Off-Road Car Dealership Royal Defenders LLC Car Dealership OFF THE SHELF BIN ... Liquidator

Suggested Use

Top Pick Building Supply Electrical Service Auto Parts Store Plumbing Service Big Box & Wholesale Store Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

38

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 37876, TN

32,866

Population

18,206

Households

1.8

Avg Household Size

45

Median Age

22%

College-Educated

89%

High-School Grad

186.8 sq mi

ZIP Area

176

Density / Sq Mi

$58,513

Median Household Income

$33,603

Median Earnings

$997

Median Rent

$257,800

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - I-1 zoned industrial building offers warehouse efficiency plus two-story office space on 0.8 acres.

Where is this flex space located?

The property is located at 3275 Newport Hwy Suite 5 Sevierville, TN.

What is the asking price?

The asking price for this property is $1,799,000.

What are key features of this property?

This property features: 14,800 SF industrial facility with 8,400 SF warehouse and 6,400 SF two‑story office; Warehouse ceiling heights of 19'–22'10"; Five drive‑in doors