Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Land in Cleveland, TN Title is generated by Realmo AI

    4478 4580 Waterlevel Highway, Cleveland, TN 37323

    View on Map
    Claim this Listing
    New
    For Sale
    $750,000

    LAND - Cleveland, TN

    Lot size:
    7.55 Acres
    Added:
    May 27, 2026
    Days on Market:
    4
    Last Refresh:
    May 30 at 9:06 pm

    Property Features for 4478 4580 Waterlevel Highway

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    059 10800 001
    Lot size
    7.55 Acres

    Taxes and HOA fees

    Tax Annual Amount
    575

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Water source
    Public

    We can help!

    Listing Contact
    Linda Jones

    Listing agent Linda Jones License #344025

    Listing office Crye-Leike REALTORS - Cleveland 4627 N Lee Highway, TN

    Listing date May 27, 2026

    MLS# 20262756 Listing URL

    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.

    HighLights

    • Large commercial building with lift, suitable for business or storage.
    • Potential for subdivision and building multiple homes.
    • Convenient location near shopping, schools, and entertainment.
    • Building includes an office and full bathroom.
    • Land features trails suitable for recreational vehicles.
    • Utilities include cable availability; public water and septic tank are present.

    Overview

    This property features a great location near shopping, schools, and entertainment. The land includes a large commercial building equipped with a lift, suitable for business purposes or storage. The building contains an office and a full bathroom. Trails are present on the land. The 7.55-acre site is located in Cleveland, TN, and could be used for a new home or subdivided for multiple homes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Law Firm Building Supply Auto Repair Shop Hotel & Motel Food Market Electrical Service (Bike/Boat/Book/etc) Store Garden Center Travel Agency Bed & Breakfast

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

    Similar Places Nearby

    • David Crane Autobody — 339 Lyles Rd SE, Cleveland, TN 37323
    • B&K Auto solutions LLC — 150 Orrie Moss Ct SE, Cleveland, TN 37323
    • K Auto Service & Repair — 112 Lyles Rd SE, Cleveland, TN 37323

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Bradley
    State
    Tennessee
    Longitude
    -84.808203
    Latitude
    35.143954

    Nearby Similar for Sale

    • $948,000
      4,190 SF

      Cleveland Car Wash & Lube

      Established car wash and lube center in Cleveland, Tennessee.
      917 Keith Street NW, Cleveland, TN 37311
      View Details
    • $620,000
      2,680 SF

      Prime Cleveland Commercial Opportunity

      Commercial space with recent upgrades in a high-traffic Cleveland location.
      2906 N Ocoee Street, Cleveland, TN 37312
      View Details
    • $375,000
      2,714 SF

      Mixed-Use Property with Income Potential

      Commercial space with residential unit, ideal for owner-operators.
      270 Central Avenue NW, Cleveland, TN 37311
      View Details
    • $294,000
      1,200 SF

      Downtown Cleveland Commercial Building

      Prime commercial building in revitalizing downtown Cleveland, Tennessee.
      463 Central Avenue NW, Cleveland, TN 37311
      View Details
    • $7,999,900
      61,954 SF

      92-Unit Apartment Community in Cleveland

      Well-maintained apartment complex with recent improvements in a prime location.
      3700/04/22 Stephens Road NE, Cleveland, TN 37312
      View Details
    • $895,000

      Commercial Lot with Highway Frontage

      High-visibility commercial lot in Cleveland, TN, with highway frontage.
      5455 N Lee Highway, Cleveland, TN 37312
      View Details
    • $895,000

      Highway Frontage Commercial Lot

      Build-ready commercial lot in Cleveland with highway frontage.
      5455 N Lee Highway, Cleveland, TN 37312
      View Details
    • $329,000
      2,288 SF

      Renovated Quadplex Investment Opportunity

      Fully renovated quadplex with four units, ideal for investors.
      650 Railroad Street NE, Cleveland, TN 37311
      View Details
    • $365,000
      1,925 SF

      Turnkey Triplex in North Cleveland

      Low-maintenance triplex with long-term tenants, ideal for investors.
      2609 Campbell Bridge Road NW, Cleveland, TN 37312
      View Details
    • $439,000
      2,040 SF

      New Duplex in Growing Market

      New construction duplex near downtown Cleveland, offering income potential.
      1622/1624 21st Street SE, Cleveland, TN 37311
      View Details
    • $450,000

      Diamond Ridge Builder-Ready Lot Package

      Thirteen residential lots for sale in Cleveland, Tennessee.
      Diamond Ridge Drive, Cleveland, TN 37312
      View Details
    • $400,000

      Builder-Ready Lots in Cleveland, TN

      Thirteen residential lots available for immediate vertical construction.
      Old Tasso Place, Cleveland, TN 37312
      View Details

    FAQs

    What type of property is this?
    Auto shop - 7.55 acres of land near shopping, schools, and entertainment.
    Where is this auto shop located?
    The property is located at 4478 4580 Waterlevel Highway Cleveland, TN.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Large commercial building with lift, suitable for business or storage.; Potential for subdivision and building multiple homes.; Convenient location near shopping, schools, and entertainment.
    (423) 595-7227
    We can help!
    Listing Contact
    Linda Jones
    Real Estate License ID: 344025
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4478 4580 Waterlevel Highway, Cleveland, TN 37323
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!