Single-Story Office
For Sale
$359,000
631 Mississippi Avenue, Signal Mountain, TN 37377
COMMERCIAL - Signal Mountain, TN
Property Size3,240 SF
Lot Size0.56 Acres
Price / SF$110.80
Days on Market51
Property Features for 631 Mississippi Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Multi Use
Interior features
Open Floorplan, High Ceilings
Appliances
Dishwasher, Electric Oven, Refrigerator
Subdivision
Mountain Land Co
Lot features
Sloped, Cleared, Sloped, Cleared
Elementary school
Thrasher
Middle school
Signal Mountain
High school
Signal Mountain
Directions
Head south on I-75 S towards Chattanooga.Take the exit for I-24 W toward Chattanooga/Nashville.Take Exit 178 for US-27 N toward Red Bank/Dayton.Continue on US-27 N for a few miles, then take the exit toward Signal Mountain / US-127 N (this keeps you on Signal Mountain Blvd, which turns into the mountain road).Continue up the mountain and turn left onto Mississippi Ave
Standard status
Active
APN
107l G 019
Size
3,240 SF
Lot size
0.56 Acres
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1948
Flooring type
Hardwood, Carpet
Building materials
Block, Concrete, Wood Siding
Roof type
Flat
Listing Agency:
Stones River Property Mgmt & Real Estate
(615) 849-9227
Listed By:
Paige Hooper · License #381658
(423) 716-0065
Added: Jun 22
Changed: Aug 5
Last Checked: Aug 11 at 7:06PM
MLS# 20263226
Copyright © 2026 River Counties Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 631 Mississippi Avenue in Signal Mountain, this single-story office building contains 3,240 square feet on a 0.56-acre site. Constructed in 1948, the property features block and concrete construction with wood siding, a flat roof, hardwood and carpet flooring, and an open interior arrangement with high ceilings.
Central heating and central air conditioning serve the building, which also includes ceiling fans, a dishwasher, electric oven, and refrigerator. Public water and public sewer are available, along with cable service. The property is identified for sale and offers a distinctive existing building with adaptable interior space in Signal Mountain.
Central heating and central air conditioning serve the building, which also includes ceiling fans, a dishwasher, electric oven, and refrigerator. Public water and public sewer are available, along with cable service. The property is identified for sale and offers a distinctive existing building with adaptable interior space in Signal Mountain.
Key Highlights
- 3,240‑square‑foot single‑story office building
- 0.56‑acre site in Signal Mountain
- Built in 1948 with block and concrete construction
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
$26,566
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
7.40%
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%
$531,320
$531.3K
Cap Rate 7%
$379,514
$379.5K
Cap Rate 9%
$295,178
$295.2K
Market Conditions
NOI Build-Up for 3,240 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
$36.9K $11.40/SF
− Vacancy
−$1.5K −$0.47/SF
EGI
$35.4K $10.93/SF
− OpEx
−$8.9K −$2.73/SF
NOI
$26.6K $8.20/SF
Area
Hamilton County, TN
Vacancy
4.10%
Lease Rate
$11.40 /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%
$531,320
Cap Rate 7%
$379,514
Cap Rate 9%
$295,178
Alternative Uses
Best Use
Office B
$379.5K
$332.1K – $442.8K
NOI $26,566 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$538.0K
$470.8K – $627.7K
NOI $37,663 @ 7.0% cap · market cap 10.49%
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
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 37377, TN
17,004
Population
6,726
Households
2.5
Avg Household Size
44
Median Age
60%
College-Educated
95%
High-School Grad
80.5 sq mi
ZIP Area
211
Density / Sq Mi
$115,959
Median Household Income
$65,869
Median Earnings
$1,389
Median Rent
$483,800
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 - Flexible interior with open-plan layout, high ceilings, central heating, and central air conditioning.
Where is this office building located?
The property is located at 631 Mississippi Avenue Signal Mountain, TN.
What is the asking price?
The asking price for this property is $359,000.
What are key features of this property?
This property features: 3,240‑square‑foot single‑story office building; 0.56‑acre site in Signal Mountain; Built in 1948 with block and concrete construction
