Building Details

Buildings 1

Listing Agency: Frankie Hawn Realty Show Phone

Listed By: Frankie Hawn · License #268604 Show Phone

Source: Moodyscre

Added: Oct 2 Changed: Oct 16 Last Checked: Oct 16 at 2:17PM

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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 Frankie Hawn Realty

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Investment Insights

Based on property information with market context.

This 2,368-square-foot flex property pairs approximately 2,000 square feet of garage area with finished living quarters on the upper level. The garage has two roll-up doors, two walk-in doors, a half bath, and a separate tool room or workshop. Outdoor space provides additional parking for vehicles, trailers, and equipment.

The upper level includes a kitchenette and bathroom, offering a distinct area above the garage. Together, the two levels provide garage and workshop space with an upper-level living area.

Key Highlights

• 2,368‑square‑foot flex property with approximately 2,000 square feet of garage space
• Garage features 2 roll‑up doors and 2 walk‑in doors
• Upper‑level quarters include a kitchenette and bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,613

Cap Rate

6.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$412,260 $412.3K

Cap Rate 7%

$294,471 $294.5K

Cap Rate 9%

$229,033 $229.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,368 SF

Gross rent

$34.1K $14.40/SF

− Vacancy

−$2.4K −$1.01/SF

EGI

$31.7K $13.39/SF

− OpEx

−$11.1K −$4.69/SF

NOI

$20.6K $8.70/SF

Area

Roane County, TN

Vacancy

7.00%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$412,260

Cap Rate 7%

$294,471

Cap Rate 9%

$229,033

Alternative Uses

Best Use

Flex RnD

$294.5K

$257.7K – $343.6K (±1% cap)

NOI $20,613 @ 7.0% cap · market cap 6.87%

Second Best

Industrial

$227.0K

$198.7K – $264.9K (±1% cap)

NOI $15,893 @ 7.0% cap · market cap 5.30%

Theoretical Best

Office A

$586.5K

$513.2K – $684.3K (±1% cap)

NOI $41,055 @ 7.0% cap · market cap 13.69%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Dental Office Plumbing Service Bakery Real Estate Agency Kitchen & Bath Showroom (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Drive-in doors

Location Intelligence

Trade Area within ½ mile

343

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 37748, TN

17,227

Population

8,208

Households

2.1

Avg Household Size

45

Median Age

20%

College-Educated

87%

High-School Grad

106.6 sq mi

ZIP Area

162

Density / Sq Mi

$58,649

Median Household Income

$40,155

Median Earnings

$760

Median Rent

$173,600

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Finished upper-level quarters include a kitchenette and bathroom alongside substantial garage workspace.

Where is this flex space located?

The property is located at 501 Walden Ave Harriman, TN.

What is the asking price?

The asking price for this property is $299,900.

What are key features of this property?

This property features: 2,368‑square‑foot flex property with approximately 2,000 square feet of garage space; Garage features 2 roll‑up doors and 2 walk‑in doors; Upper‑level quarters include a kitchenette and bathroom