Multi-Level Mixed-Use
New
For Sale
$1,165,000
670 Glades Rd, Gatlinburg, TN 37738
C-5 property combines commercial space, two retail rentals, and a furnished residential unit used for short-term stays.
Property Size5,215 SF
Lot Size1.85 Acres
Price / SF$223.39
Days on Market3
Property Features for 670 Glades Rd
General Information
Standard status
Active
Size
5,215 SF
Lot size
1.85 Acres
Zoning
C-5
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
NAI Koella | RM Moore, Inc.
(865) 453-8111
Listed By:
David L. Gothard · License ##00262082
(865) 607-9536
Source:
Exprealty
Added: Sep 30
Changed: Oct 1
Last Checked: Oct 1 at 2:18PM
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 NAI Koella | RM Moore, Inc.
Investment Insights
Based on property information with market context.
The multi-level building contains 5,215 square feet, including 4,606 square feet of commercial area and a 609-square-foot residential unit. Commercial space is configured with an art showroom or gallery, workrooms, storage, and two retail rental spaces. The furnished efficiency residence has an open living, dining, and sleeping area, plus a covered, screened rear deck along the wooded mountainside.
The property spans approximately 1.85 acres at 670 Glades Rd in Gatlinburg’s Great Smoky Arts & Crafts Community. It is in the C-5 Tourist Commercial zoning district on mountainous, largely wooded land.
The property spans approximately 1.85 acres at 670 Glades Rd in Gatlinburg’s Great Smoky Arts & Crafts Community. It is in the C-5 Tourist Commercial zoning district on mountainous, largely wooded land.
Key Highlights
- 5,215‑square‑foot multi‑level building: 4,606 SF commercial and 609 SF residential
- Approximately 1.85‑acre tract in the C‑5 Tourist Commercial zoning district
- Commercial configuration includes an art showroom/gallery, workrooms, storage, and two retail rental spaces
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
$73,894
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
6.34%
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%
$1,477,880
$1.5M
Cap Rate 7%
$1,055,629
$1.1M
Cap Rate 9%
$821,044
$821.0K
Market Conditions
NOI Build-Up for 5,215 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
$120.2K $23.04/SF
− Vacancy
−$21.6K −$4.15/SF
EGI
$98.5K $18.89/SF
− OpEx
−$24.6K −$4.72/SF
NOI
$73.9K $14.17/SF
Area
Sevier County, TN
Vacancy
18.00%
Lease Rate
$23.04 /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%
$1,477,880
Cap Rate 7%
$1,055,629
Cap Rate 9%
$821,044
Alternative Uses
Best Use
Office B
$1.06M
$923.7K – $1.23M
NOI $73,894 @ 7.0% cap · market cap 6.34%
Second Best
Mixed Use
$925.3K
$809.6K – $1.08M
NOI $64,770 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$2.20M
$1.92M – $2.57M
NOI $153,947 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
274
Businesses Nearby
Explore this area
Business Placement
Demographics for 37738, TN
5,001
Population
7,075
Households
0.7
Avg Household Size
49
Median Age
31%
College-Educated
91%
High-School Grad
214.6 sq mi
ZIP Area
23
Density / Sq Mi
$63,133
Median Household Income
$29,169
Median Earnings
$1,090
Median Rent
$275,000
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - C-5 property combines commercial space, two retail rentals, and a furnished residential unit used for short-term stays.
Where is this mixed-use property located?
The property is located at 670 Glades Rd Gatlinburg, TN.
What is the asking price?
The asking price for this property is $1,165,000.
What are key features of this property?
This property features: 5,215‑square‑foot multi‑level building: 4,606 SF commercial and 609 SF residential; Approximately 1.85‑acre tract in the C‑5 Tourist Commercial zoning district; Commercial configuration includes an art showroom/gallery, workrooms, storage, and two retail rental spaces
