Downtown Commercial Building For
463 Central Avenue NW Cleveland, TN 37311
For Sale
Contact for pricing
Prime commercial building in high-traffic downtown location, versatile layout.
Property Size1,200 SF
Price / SF$245
Days on Market174
Property Features for 463 Central Avenue NW
General Information
Standard status
Active
Size
1,200 SF
Property subtype
Mixed Use, Multifamily, Office, Retail
Building Details
Year Built
1977
Listing Agency:
Compass Group Realty, LLC
Listed By:
Melody Smith · License #TN 294574
Source:
Crexi
Added: Feb 5
Changed: Jul 6
Last Checked: Jul 28 at 5:07PM
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 Compass Group Realty, LLC
Investment Insights
Based on property information with market context.
This commercial building is located in a high-traffic area in the heart of downtown on Central Avenue. The property is suitable for a wide range of businesses and is surrounded by thriving businesses, restaurants, and retail shops. The open floor plan allows for customization to suit a variety of business needs, accommodating office spaces, retail stores, or a mix of both. The building has been recently updated and is move-in ready. Ample parking options and excellent public transportation links make this location convenient for employees and customers. Situated in a booming area of downtown, this building offers tremendous growth potential. The property size is 1200 square feet.
Key Highlights
- Prime downtown location on Central Avenue in a high‑traffic area.
- Versatile, open floor plan adaptable for various business types (office, retail, etc.).
- Recently updated and move‑in ready.
Financial Insights For Office B
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 | $21.6k | $18.00 |
| − Vacancy | −$3.9k | −$3.24 |
| EGI | $17.7k | $14.76 |
| − OpEx | −$4.4k | −$3.69 |
| NOI | $13.3k | $11.07 |
1,200 SF · lease $18.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$189.8K
$166.1K – $221.4K
NOI $13,284 @ 7.0% cap · market cap 4.52%
Second Best
Mixed Use
$173.6K
$151.9K – $202.5K
NOI $12,150 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$251.8K
$220.3K – $293.8K
NOI $17,626 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Prime commercial building in high-traffic downtown location, versatile layout.
Where is this mixed-use property located?
The property is located at 463 Central Avenue NW Cleveland, TN.
What is the asking price?
The asking price for this property is $294,000.
What are key features of this property?
This property features: Prime downtown location on Central Avenue in a high‑traffic area.; Versatile, open floor plan adaptable for various business types (office, retail, etc.).; Recently updated and move‑in ready.
