Ziebart NNN Automotive
New
For Sale
$1,938,461
4641 Georgetown Road NW, Cleveland, TN 37312
Brand-new automotive service facility leased under an absolute NNN structure with long-term contractual terms.
Property Size6,000 SF
Lot Size1.02 Acres
Price / SF$323.08
Days on Market3
Property Features for 4641 Georgetown Road NW
General Information
Standard status
Active
Size
6,000 SF
Lot size
1.02 Acres
Property subtype
Retail
Occupancy
100%
Net Operating Income
$126,000
Additional Details
Cap Rate
6.5%
Road Access
Yes
Building Details
Building Size
6,000 SF
Year Built
2026
Tenancy
Single
Listing Agency:
SVN Second Story Real Estate Management- Atlanta
(678) 787-5019
Listed By:
Hunter Myers · License #TN #359455
Source:
Svn
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 15 at 4:50AM
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 SVN Second Story Real Estate Management- Atlanta
Investment Insights
Based on property information with market context.
Located at 4641 Georgetown Road NW in Cleveland, Tennessee, this brand-new automotive service facility comprises 6,000 SF on 1.02 acres. Completed in 2026, the property is occupied by a Ziebart franchise operator under a 15-year absolute NNN lease, with a personal guaranty and limited landlord responsibilities.
The lease provides rental increases of approximately 10% every five years and includes two 5-year renewal options. The property is 100% leased and carries a 6.50% cap rate. Nearby destinations identified for the location include Food City, Dollar General, and Candy's Creek Cherokee Elementary. The surrounding area is also identified as benefiting from new development and a TDOT project.
The lease provides rental increases of approximately 10% every five years and includes two 5-year renewal options. The property is 100% leased and carries a 6.50% cap rate. Nearby destinations identified for the location include Food City, Dollar General, and Candy's Creek Cherokee Elementary. The surrounding area is also identified as benefiting from new development and a TDOT project.
Key Highlights
- 6,000 SF Ziebart facility on 1.02 acres
- 15‑year absolute NNN lease with personal guaranty
- 100% leased to a Ziebart franchise operator
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
$56,700
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
2.93%
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%
$1,134,000
$1.1M
Cap Rate 7%
$810,000
$810.0K
Cap Rate 9%
$630,000
$630.0K
Market Conditions
NOI Build-Up for 6,000 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
$90.0K $15.00/SF
− Vacancy
−$9.0K −$1.50/SF
EGI
$81.0K $13.50/SF
− OpEx
−$24.3K −$4.05/SF
NOI
$56.7K $9.45/SF
Area
Bradley County, TN
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,134,000
Cap Rate 7%
$810,000
Cap Rate 9%
$630,000
Alternative Uses
Best Use
Retail
$810.0K
$708.8K – $945.0K
NOI $56,700 @ 7.0% cap · market cap 2.93%
Second Best
Industrial
$453.0K
$396.4K – $528.5K
NOI $31,712 @ 7.0% cap · market cap 1.64%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,128 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
249k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 69%
Shops & Services 25%
Hotels & Casinos 5%
Beauty & Spa 1%
RaceTrac
Shops & Services
41,489 visits/mo
0.3 miles
Cracker Barrel Old Country Store
Dining
34,638 visits/mo
0.2 miles
McDonald's
Dining
30,144 visits/mo
0.4 miles
Zaxby's Chicken Fingers & Buffalo Wings
Dining
17,116 visits/mo
0.3 miles
MAPCO Mart
Shops & Services
14,500 visits/mo
0.4 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Brand-new automotive service facility leased under an absolute NNN structure with long-term contractual terms.
Where is this nnn property located?
The property is located at 4641 Georgetown Road NW Cleveland, TN.
What is the asking price?
The asking price for this property is $1,938,461.
What are key features of this property?
This property features: 6,000 SF Ziebart facility on 1.02 acres; 15‑year absolute NNN lease with personal guaranty; 100% leased to a Ziebart franchise operator
