Move-In Ready Office
For Sale
$184,900
3555 Keith Street NW, Cleveland, TN 37312
Office suite with two private offices and a dedicated full bath in a well-maintained multi-tenant professional building.
Property Size840 SF
Price / SF$220.12
Days on Market69
Property Features for 3555 Keith Street NW
General Information
Standard status
Active
Size
840 SF
Property subtype
Office
Building Details
Building Size
840 SF
Year Built
2004
Tenancy
Single
Listing Agency:
Realty ONE Group Experts
(423) 896-6000
Listed By:
Dustin Sherlin · License #300012
(423) 896-6000
Source:
Gracefrankgroup
Added: Jun 23
Changed: Aug 25
Last Checked: Aug 29 at 2:16PM
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 Realty ONE Group Experts
Investment Insights
Based on property information with market context.
Suite 212 at 3555 Keith Street offers a polished, move-in ready office layout designed for day-to-day client and team use. The suite includes two private offices plus a dedicated full bath, providing dedicated spaces for meetings, focused work, and professional services. The configuration is compact and functional, with no reliance on awkward open-plan arrangements to make the space work.
The suite is located in a multi-tenant professional building along Keith Street, described as Cleveland’s most established professional address. The building is positioned within an established corridor with neighboring professional tenants, and the property offers ample parking for client and staff access.
This office suite is a practical fit for owner-users seeking their own professional space and for buyers looking for an office asset within a stable, multi-tenant environment. The combination of private offices and a dedicated restroom supports common professional workflows for consulting, financial, legal, and healthcare-related offices, while the move-in ready condition can help reduce the start-up timeline for an incoming tenant or operator.
The suite is located in a multi-tenant professional building along Keith Street, described as Cleveland’s most established professional address. The building is positioned within an established corridor with neighboring professional tenants, and the property offers ample parking for client and staff access.
This office suite is a practical fit for owner-users seeking their own professional space and for buyers looking for an office asset within a stable, multi-tenant environment. The combination of private offices and a dedicated restroom supports common professional workflows for consulting, financial, legal, and healthcare-related offices, while the move-in ready condition can help reduce the start-up timeline for an incoming tenant or operator.
Key Highlights
- Office suite in a well‑maintained multi‑tenant professional building at 3555 Keith Street (Suite 212)
- 840 SF move‑in ready office suite with two private offices plus a dedicated full bath
- Functional layout designed to avoid wasted space and reduce need for reconfiguration
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
$9,299
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
5.03%
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%
$185,980
$186.0K
Cap Rate 7%
$132,843
$132.8K
Cap Rate 9%
$103,322
$103.3K
Market Conditions
NOI Build-Up for 840 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
$15.1K $18.00/SF
− Vacancy
−$2.7K −$3.24/SF
EGI
$12.4K $14.76/SF
− OpEx
−$3.1K −$3.69/SF
NOI
$9.3K $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%
$185,980
Cap Rate 7%
$132,843
Cap Rate 9%
$103,322
Alternative Uses
Best Use
Office B
$132.8K
$116.2K – $155.0K
NOI $9,299 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$176.3K
$154.2K – $205.6K
NOI $12,338 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
654
Businesses Nearby
Explore this area
Business Placement
Demographics for 37312, TN
36,291
Population
15,023
Households
2.4
Avg Household Size
42
Median Age
36%
College-Educated
93%
High-School Grad
64.4 sq mi
ZIP Area
564
Density / Sq Mi
$75,369
Median Household Income
$41,148
Median Earnings
$1,080
Median Rent
$270,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office suite with two private offices and a dedicated full bath in a well-maintained multi-tenant professional building.
Where is this office units located?
The property is located at 3555 Keith Street NW Cleveland, TN.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: Office suite in a well‑maintained multi‑tenant professional building at 3555 Keith Street (Suite 212); 840 SF move‑in ready office suite with two private offices plus a dedicated full bath; Functional layout designed to avoid wasted space and reduce need for reconfiguration
