Remodeled Office and Creative
For Sale
$435,000
465 Glades Road, Gatlinburg, TN 37738
Fully remodeled commercial building with C-5 zoning and a dedicated side section for workshop or storage use.
Property Size2,200 SF
Price / SF$197.73
Days on Market107
Property Features for 465 Glades Road
General Information
Standard status
Active
Size
2,200 SF
Property subtype
General Commercial
Zoning
C-5
Additional Details
Road Access
Yes
Amenities
3
Building Details
Year Built
1960
Listing Agency:
Century 21 MVP
(865) 429-2121
Listed By:
Amber Brown
(865) 410-0177
Source:
Xome
Added: May 25
Changed: Sep 1
Last Checked: Sep 7 at 5:32AM
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 Century 21 MVP
Investment Insights
Based on property information with market context.
This fully remodeled commercial property is set up for flexible use with a layout currently operating as an office for a cabin rental company. The interior has been updated to provide a clean, modern work environment, and there is a large side section of the building that can be used for workshop space, storage, or expansion.
The property is located at 465 Glades Road in Gatlinburg, TN and is zoned C-5, which supports a range of commercial activities described in the remarks. The building also benefits from road frontage and drive-by exposure.
With its remodeled interior, adaptable rooming, and additional side area for operational needs, the property offers a straightforward configuration for continued office use or an easier conversion to another concept within the C-5 framework.
The property is located at 465 Glades Road in Gatlinburg, TN and is zoned C-5, which supports a range of commercial activities described in the remarks. The building also benefits from road frontage and drive-by exposure.
With its remodeled interior, adaptable rooming, and additional side area for operational needs, the property offers a straightforward configuration for continued office use or an easier conversion to another concept within the C-5 framework.
Key Highlights
- Fully remodeled commercial building (Year built 1960) with C‑5 zoning in Gatlinburg
- C‑5 zoning supports a range of uses including professional offices, retail, bed and breakfasts, and wedding chapels
- Dedicated side section can be used for workshop space, storage, or expansion
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
$31,173
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
7.17%
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%
$623,460
$623.5K
Cap Rate 7%
$445,329
$445.3K
Cap Rate 9%
$346,367
$346.4K
Market Conditions
NOI Build-Up for 2,200 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
$50.7K $23.04/SF
− Vacancy
−$9.1K −$4.15/SF
EGI
$41.6K $18.89/SF
− OpEx
−$10.4K −$4.72/SF
NOI
$31.2K $14.17/SF
Area
Sevier County, TN
Vacancy
18.00%
Lease Rate
$23.04 /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%
$623,460
Cap Rate 7%
$445,329
Cap Rate 9%
$346,367
Alternative Uses
Best Use
Office B
$445.3K
$389.7K – $519.6K
NOI $31,173 @ 7.0% cap · market cap 7.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$927.8K
$811.8K – $1.08M
NOI $64,944 @ 7.0% cap · market cap 14.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
Explore this area
Business Placement
Demographics for 37738, TN
5,001
Population
7,075
Households
0.7
Avg Household Size
49
Median Age
31%
College-Educated
91%
High-School Grad
214.6 sq mi
ZIP Area
23
Density / Sq Mi
$63,133
Median Household Income
$29,169
Median Earnings
$1,090
Median Rent
$275,000
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 building - Fully remodeled commercial building with C-5 zoning and a dedicated side section for workshop or storage use.
Where is this office building located?
The property is located at 465 Glades Road Gatlinburg, TN.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Fully remodeled commercial building (Year built 1960) with C‑5 zoning in Gatlinburg; C‑5 zoning supports a range of uses including professional offices, retail, bed and breakfasts, and wedding chapels; Dedicated side section can be used for workshop space, storage, or expansion
