Commercial Property on Corner
For Sale
Contact for pricing
632 Inman St E, Cleveland, TN 37311
Commercial property with high exposure and multiple uses.
Property Size2,536 SF
Lot Size0.82 Acres
Price / SF$197.12
Days on Market757
Property Features for 632 Inman St E
General Information
Standard status
Active
Size
2,536 SF
Lot size
0.82 Acres
Property subtype
Retail, Mixed Use
Zoning
Commercial
Building Details
Year Built
1977
Buildings
2
Units
2
Listing Agency:
Epique Realty
(423) 313-8891
Listed By:
Toye Sowder · License #TN 264789
Source:
Crexi
Added: Jul 17, 2024
Changed: Aug 8
Last Checked: Aug 12 at 6:08AM
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 Epique Realty
Investment Insights
Based on property information with market context.
This commercial property is located on a corner lot at the gateway into Cleveland, Tennessee, just off APD 40 and 64 Hwy in Downtown Cleveland. The property has 291 feet of road frontage on Inman Street and 170 feet of road frontage on Dooley Street. It features a 5-bay garage, ample storage room, and one area plumbed for a full bathroom. The office space includes a large front room, two smaller offices, and one bathroom. The property was last used as a car lot and is located within the Inman East Corridor Plan. The listing includes two parcels, with the adjoining vacant lot to the right also included (057D K 012.01). The property size is close to 0.82 acres. The property has a large traffic count and is suitable for a car lot.
Key Highlights
- High‑traffic corner lot location at the gateway to Cleveland, ideal for commercial use.
- Includes two parcels: a commercial property with a 5‑bay garage and an adjoining vacant lot.
- Significant road frontage: 291 ft on Inman St and 170 ft on Dooley St.
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
$23,965
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
4.79%
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%
$479,300
$479.3K
Cap Rate 7%
$342,357
$342.4K
Cap Rate 9%
$266,278
$266.3K
Market Conditions
NOI Build-Up for 2,536 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
$38.0K $15.00/SF
− Vacancy
−$3.8K −$1.50/SF
EGI
$34.2K $13.50/SF
− OpEx
−$10.3K −$4.05/SF
NOI
$24.0K $9.45/SF
Area
Bradley County, TN
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$479,300
Cap Rate 7%
$342,357
Cap Rate 9%
$266,278
Alternative Uses
Best Use
Retail
$342.4K
$299.6K – $399.4K
NOI $23,965 @ 7.0% cap · market cap 4.79%
Second Best
Industrial
$191.5K
$167.6K – $223.4K
NOI $13,404 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$532.1K
$465.6K – $620.8K
NOI $37,249 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
545
Businesses Nearby
4k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citgo
Shops & Services
3,816 visits/mo
0.2 miles
Demographics for 37311, TN
29,687
Population
12,942
Households
2.3
Avg Household Size
34
Median Age
18%
College-Educated
83%
High-School Grad
50.1 sq mi
ZIP Area
593
Density / Sq Mi
$46,827
Median Household Income
$28,839
Median Earnings
$890
Median Rent
$205,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- Cleveland Collision Center — 2091 Waterlevel Hwy, Cleveland, TN 37311
Frequently Asked Questions
What type of property is this?
Parking lot & garage - Commercial property with high exposure and multiple uses.
Where is this parking lot & garage located?
The property is located at 632 Inman St 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, ideal for commercial use.; Includes two parcels: a commercial property with a 5‑bay garage and an adjoining vacant lot.; Significant road frontage: **291 ft on Inman St and 170 ft on Dooley St.**
