Leased Office Condo
For Sale
$2,229,900
4160 Ocoee Street N, Cleveland, TN 37312
COMMERCIAL - Cleveland, TN
Property Size10,770 SF
Lot Size1.47 Acres
Price / SF$207.05
Days on Market1988
Property Features for 4160 Ocoee Street N
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Lot features
Corner Lot, Corner Lot
Elementary school
Ross-Yates
Middle school
Cleveland
High school
Cleveland
Directions
North I 75 to exit 27, turn right Paul Huff Parkway. Turn right N Lee Hwy (Keith St) Turn left N Ocoee St. Office condo complex on corner of N Ocoee St & Hiwassee Ave.
Subdivision
Cleveland NE
Standard status
Active
APN
42g C 001.00
Size
10,770 SF
Lot size
1.47 Acres
Taxes and HOA fees
Tax Annual Amount
18283
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2005
Flooring type
Carpet, Tile
Building materials
Block, Metal Siding
Listing Agency:
Crye-Leike REALTORS - Cleveland
(423) 473-9545
Listed By:
Max Phillips · License #203547
(423) 596-7173
Added: Mar 25, 2021
Changed: Aug 4
Last Checked: Sep 2 at 9:06AM
MLS# 20211751
Copyright © 2026 River Counties Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Class A office condo complex is offered for sale as an investment property with seven condos that are currently leased. The complex is described as well constructed and in almost new condition.
The property is located at 4160 Ocoee Street N in Cleveland, Tennessee. The listing is categorized under Commercial zoning.
The offering includes a total property size of 10,770 square feet and a lot size of 1.47 acres, with details available upon request.
The property is located at 4160 Ocoee Street N in Cleveland, Tennessee. The listing is categorized under Commercial zoning.
The offering includes a total property size of 10,770 square feet and a lot size of 1.47 acres, with details available upon request.
Key Highlights
- Class A office condo complex built in 2005
- Complex includes 7 condos, all currently leased
- Central heating and central air with natural gas
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
$119,224
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
5.35%
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%
$2,384,480
$2.4M
Cap Rate 7%
$1,703,200
$1.7M
Cap Rate 9%
$1,324,711
$1.3M
Market Conditions
NOI Build-Up for 10,770 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
$193.9K $18.00/SF
− Vacancy
−$34.9K −$3.24/SF
EGI
$159.0K $14.76/SF
− OpEx
−$39.7K −$3.69/SF
NOI
$119.2K $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%
$2,384,480
Cap Rate 7%
$1,703,200
Cap Rate 9%
$1,324,711
Alternative Uses
Best Use
Office B
$1.70M
$1.49M – $1.99M
NOI $119,224 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,190 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Office units
Location Intelligence
Trade Area within ½ mile
649
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 - Class A office condo complex offering seven units that are currently leased and in almost-new condition.
Where is this office units located?
The property is located at 4160 Ocoee Street N Cleveland, TN.
What is the asking price?
The asking price for this property is $2,229,900.
What are key features of this property?
This property features: Class A office condo complex built in 2005; Complex includes 7 condos, all currently leased; Central heating and central air with natural gas
