Highway Retail Building For
For Sale
$349,000
6451 Highway 41, Jasper, TN 37347
3200 SF retail building on a corner lot.
Property Size3,200 SF
Lot Size0.50 Acres
Price / SF$109.06
Days on Market249
Property Features for 6451 Highway 41
General Information
Standard status
Active
Size
3,200 SF
Lot size
0.50 Acres
Taxes and HOA fees
Annual Taxes
$1,459
Listing Agency:
Ellis Ledford Properties LLC
(423) 506-2089
Listed By:
Richard McAllister
(423) 506-2089
Source:
Exprealty
Added: Dec 17, 2025
Changed: Aug 20
Last Checked: Aug 23 at 6:07AM
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 Ellis Ledford Properties LLC
Investment Insights
Based on property information with market context.
This property features a 3200 square foot building situated on a corner lot along a busy US Highway. The location provides convenient access to Interstate 24. The property is suitable for various types of businesses.
Key Highlights
- 3200 Sq. Ft. Building perfect for your business needs.
- Prime Corner Lot Location.
- Busy US Highway Frontage offers excellent visibility.
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
$24,730
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
7.09%
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%
$494,600
$494.6K
Cap Rate 7%
$353,286
$353.3K
Cap Rate 9%
$274,778
$274.8K
Market Conditions
NOI Build-Up for 3,200 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
$38.4K $12.00/SF
− Vacancy
−$3.1K −$0.96/SF
EGI
$35.3K $11.04/SF
− OpEx
−$10.6K −$3.31/SF
NOI
$24.7K $7.73/SF
Area
Marion County, TN
Vacancy
8.00%
Lease Rate
$12.00 /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%
$494,600
Cap Rate 7%
$353,286
Cap Rate 9%
$274,778
Alternative Uses
Best Use
Retail
$353.3K
$309.1K – $412.2K
NOI $24,730 @ 7.0% cap · market cap 7.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$706.7K
$618.4K – $824.5K
NOI $49,471 @ 7.0% cap · market cap 14.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
Explore this area
Business Placement
Demographics for 37347, TN
8,280
Population
3,996
Households
2.1
Avg Household Size
44
Median Age
19%
College-Educated
87%
High-School Grad
48.9 sq mi
ZIP Area
169
Density / Sq Mi
$57,854
Median Household Income
$36,734
Median Earnings
$798
Median Rent
$141,600
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.
Frequently Asked Questions
What type of property is this?
Retail space - 3200 SF retail building on a corner lot.
Where is this retail space located?
The property is located at 6451 Highway 41 Jasper, TN.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 3200 Sq. Ft. Building perfect for your business needs.; Prime Corner Lot Location.; Busy US Highway Frontage offers excellent visibility.
