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    Renovated Warehouse with Loading Dock Title is generated by Realmo AI

    4215 Old Tasso Rd Ne, Cleveland, TN 37312

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    For Sale
    $380,000

    Versatile warehouse with high ceilings, loading dock, and security.

    Property size:
    4,985 SF
    Price / SF:
    $76/SF
    Added:
    May 5, 2026
    Days on Market:
    28
    Last Refresh:
    May 23 at 11:03 pm

    Property Features for 4215 Old Tasso Rd Ne

    General Information

    Standard status
    Active
    Size
    4,985 SF

    We can help!

    Listing Contact
    Adam Hammond
    Adam Hammond

    Listing agent Adam Hammond

    Listing office Bender Realty

    Listing date May 5, 2026

    Source Exprealty

    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

    HighLights

    • Prime location near the local YMCA.
    • High Gross Operating Income (GOI) with potential for increase.
    • Versatile space suitable for various light industrial uses.
    • Equipped with 400 amp single phase and 3 phase electrical service.
    • Features two roll‑up garage doors with openers and a loading dock.
    • Fenced boundary and security cameras for enhanced security.

    Overview

    This industrial/commercial warehouse and shop offers an opportunity for investors or owner-operators. The property is located near the local YMCA. Tenant occupied, the property has a Gross Operating Income of $24,200 with a GPI of $33,600. The previous lease was $2,700 per month for a GOI of $32,400. The tenant has a modified net lease and pays all utilities and expenses. Renovated in 2021, the warehouse features a spacious interior with 10.5-foot ceilings and concrete floors. The building includes two half-baths and a large shed in the back. Currently used as a shop and warehouse, the space can accommodate various light industrial uses. The warehouse is equipped with 400 amp single phase and 3 phase electrical service. It features two roll-up garage doors with openers and a loading dock. A fenced boundary and security cameras provide privacy and security. The front of the property offers up to eight parking spaces with potential for expansion. City sewer and water service are available, as well as gas at the street. The property has 4,985 square feet of space.

    Local Financial Insights For Warehouse

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $38.7k $7.76
    − Vacancy −$1.0k −$0.21
    EGI $37.6k $7.55
    − OpEx −$5.6k −$1.13
    NOI $32.0k $6.42
    4,985 SF · lease $7.76/SF/yr · vacancy 2.70% · expense 15.00%

    Alternative Uses

    Best Use
    Warehouse
    $457.0K
    $399.9K – $533.2K (±1% cap)
    NOI $31,993 @ 7.0% cap · market cap 8.42%
    Second Best
    Industrial
    $376.4K
    $329.3K – $439.1K (±1% cap)
    NOI $26,347 @ 7.0% cap · market cap 6.93%
    Theoretical Best
    Office A
    $1.05M
    $915.3K – $1.22M (±1% cap)
    NOI $73,220 @ 7.0% cap · market cap 19.27%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • 24Hour Self Storage - Stuart — 1475 Stuart Rd NE, Cleveland, TN 37312
    • A Plus Moving — 1510 Stuart Rd NE suite 118, Cleveland, TN 37312
    • Stuart Road Storage — 1600 Stuart Rd NE Suite 2, Cleveland, TN 37312
    • Storage Park — 3917 Michigan Ave Rd NE, Cleveland, TN 37323
    • Cleveland Boat & RV Storage — 3686 Michigan Ave Rd NE, Cleveland, TN 37323

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Bradley
    State
    Tennessee
    Longitude
    -84.829605
    Latitude
    35.183315

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    FAQs

    What type of property is this?
    Warehouse - Versatile warehouse with high ceilings, loading dock, and security.
    Where is this warehouse located?
    The property is located at 4215 Old Tasso Rd Ne Cleveland, TN.
    What is the asking price?
    The asking price for this property is $380,000.
    What are key features of this property?
    This property features: Prime location near the local YMCA.; High Gross Operating Income (GOI) with potential for increase.; Versatile space suitable for various light industrial uses.
    (423) 464-1812
    We can help!
    Listing Contact
    Adam Hammond
    Adam Hammond
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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