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    Commercial Property on Corner Lot Title is generated by Realmo AI

    632 Inman Street E, Cleveland, TN 37311

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    For Sale
    $499,900

    COMMERCIAL - Cleveland, TN

    Property size:
    2,536 SF
    Lot size:
    0.82 Acres
    Price / SF:
    $197/SF
    Added:
    Sep 17, 2024
    Days on Market:
    618
    Last Refresh:
    May 27 at 7:06 am

    Property Features for 632 Inman Street E

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active
    APN
    057d K 01200 000
    Size
    2,536 SF
    Lot size
    0.82 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2476

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1977
    Flooring type
    Carpet
    Building materials
    Wood Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Toye Sowder
    Toye Sowder

    Listing agent Toye Sowder License #264789

    Listing office Epique Realty 40 Burton Hills Blvd #200, Nashville, TN

    Listing date Sep 17, 2024

    MLS# 20241565

    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.

    HighLights

    • High‑traffic corner lot location at the gateway to Cleveland, offering exceptional exposure.
    • Zoned for multi‑purpose use: retail commercial on the main level and multi‑family residential on the upper level.
    • Includes two parcels: the main property and an adjacent vacant lot (057D K 012.01).
    • Features a 5‑bay garage.
    • Significant road frontage: 291ft on Inman St and 170ft on Dooley St.
    • Convenient access to APD 40 and 64 Hwy in Downtown Cleveland.

    Overview

    This commercial property is located on a corner lot at the gateway into Cleveland, Tennessee, offering substantial exposure due to high traffic volume. Situated just off APD 40 and 64 Highway in Downtown Cleveland, the property features 291 feet of road frontage on Inman Street and 170 feet of road frontage on Dooley Street. The property includes a 5-bay garage and is zoned for multi-purpose use, allowing for retail commercial operations on the main level and multi-family residential living on the upper level. The listing encompasses two parcels, including a vacant lot to the right, identified as 057D K 012.01. The total lot size is 0.82 acres. The property size is 2536 square feet.

    Financial Insights

    Value Estimation Calculated for Mixed Use

    Conservative
    $285.3K
    NOI $25,677 @ 9.00% cap · cautious / downside scenario
    Moderate
    $366.8K
    NOI $25,677 @ 7.00% cap · market / base-case scenario
    Aggressive
    $513.5K
    NOI $25,677 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Mixed Use

    Component $ $/SF
    Gross rent $45.6k $18.00
    − Vacancy −$4.6k −$1.80
    EGI $41.1k $16.20
    − OpEx −$15.4k −$6.07
    NOI $25.7k $10.13
    2,536 SF · lease $18.00/SF/yr · vacancy 10.00% · expense 37.50%

    Alternative Use Scenarios

    Best Use
    Mixed Use
    $366.8K
    $321.0K – $428.0K (±1% cap)
    NOI $25,677 @ 7.0% cap · market cap 5.14%
    Second Best
    Retail
    $342.4K
    $299.6K – $399.4K (±1% cap)
    NOI $23,965 @ 7.0% cap · market cap 4.79%
    Theoretical Best
    Office A
    $532.1K
    $465.6K – $620.8K (±1% cap)
    NOI $37,249 @ 7.0% cap · market cap 7.45%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Bradley
    State
    Tennessee
    Longitude
    -84.868132
    Latitude
    35.155201

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    FAQs

    What type of property is this?
    Mixed-use property - Corner lot commercial property with high traffic exposure in Cleveland.
    Where is this mixed-use property located?
    The property is located at 632 Inman Street E Cleveland, TN.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: High‑traffic corner lot location at the gateway to Cleveland, offering exceptional exposure.; Zoned for multi‑purpose use: retail commercial on the main level and multi‑family residential on the upper level.; Includes two parcels: the main property and an adjacent vacant lot (057D K 012.01).
    (423) 313-8891
    We can help!
    Listing Contact
    Toye Sowder
    Toye Sowder
    Real Estate License ID: 264789
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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