Warehouse with Office Space and Garage
For Sale
Contact for pricing
Pending
5136 Hwy 321 North, Lenoir City, TN 37771
Warehouse and finished office space with three garage doors, two HVAC systems, and 50-amp RV hookup.
Property Size5,985 SF
Days on Market50
Property Features for 5136 Hwy 321 North
General Information
Standard status
Pending
Size
5,985 SF
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Span
Yes
Warehouse Space
4,000 SF
Office Build-Out
2,000 SF
Drive-In Doors
3
Amenities
large pole sign
kitchen/breakroom
50-amp RV hookup
Listing Agency:
Goldman Partners Realty, LLC
(865) 444-3240
Listed By:
Solange Velas, CCIM · License #263596
(865) 368-2787
Source:
Moodyscre
Added: Jul 27
Changed: Sep 2
Last Checked: Sep 14 at 7:36AM
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 Goldman Partners Realty, LLC
Investment Insights
Based on property information with market context.
This warehouse includes 4,000 SF of open warehouse space with a 14 ft clear span, plus three 9 ft garage doors (one roll-up and two auto open). The property also features approximately 2,000 SF of finished office space with four private offices, a kitchen/breakroom, and two bathrooms.
Recent upgrades are noted throughout, including vinyl flooring and shiplap walls, and two HVAC systems installed in 2021 and 2013. Electrical includes Square D electrical panels, and there is a 50-amp RV hookup. The main roof is metal with an adjacent comp shingle roof.
Additional operational convenience is supported by the location on Hwy 321, with quick access to the junction of I-75 & I-40. The property is described as having average daily traffic of 13,000 and a large pole sign.
Recent upgrades are noted throughout, including vinyl flooring and shiplap walls, and two HVAC systems installed in 2021 and 2013. Electrical includes Square D electrical panels, and there is a 50-amp RV hookup. The main roof is metal with an adjacent comp shingle roof.
Additional operational convenience is supported by the location on Hwy 321, with quick access to the junction of I-75 & I-40. The property is described as having average daily traffic of 13,000 and a large pole sign.
Key Highlights
- 4,000 SF open warehouse space with 14 ft clear span
- Approximately 2,000 SF finished office with four private offices
- Three 9 ft garage doors (one roll‑up, two auto open)
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
$79,182
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
7.96%
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%
$1,583,640
$1.6M
Cap Rate 7%
$1,131,171
$1.1M
Cap Rate 9%
$879,800
$879.8K
Market Conditions
NOI Build-Up for 5,985 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
$125.7K $21.00/SF
− Vacancy
−$20.1K −$3.36/SF
EGI
$105.6K $17.64/SF
− OpEx
−$26.4K −$4.41/SF
NOI
$79.2K $13.23/SF
Area
Loudon County, TN
Vacancy
16.00%
Lease Rate
$21.00 /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%
$1,583,640
Cap Rate 7%
$1,131,171
Cap Rate 9%
$879,800
Alternative Uses
Best Use
Office B
$1.13M
$989.8K – $1.32M
NOI $79,182 @ 7.0% cap · market cap 7.96%
Second Best
Flex RnD
$744.3K
$651.2K – $868.3K
NOI $52,098 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,766 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 37771, TN
16,822
Population
7,573
Households
2.2
Avg Household Size
40
Median Age
19%
College-Educated
86%
High-School Grad
50.1 sq mi
ZIP Area
336
Density / Sq Mi
$62,338
Median Household Income
$33,330
Median Earnings
$946
Median Rent
$236,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Warehouse and finished office space with three garage doors, two HVAC systems, and 50-amp RV hookup.
Where is this flex space located?
The property is located at 5136 Hwy 321 North Lenoir City, TN.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 4,000 SF open warehouse space with 14 ft clear span; Approximately 2,000 SF finished office with four private offices; Three 9 ft garage doors (one roll‑up, two auto open)
