Renovated Live-Work
For Sale
Contact for pricing
6936 N Ruggles Ferry Pike, Knoxville, TN 37924
Flexible interior currently configured for salon and office use.
Property Size720 SF
Price / SF$381.94
Days on Market78
Property Features for 6936 N Ruggles Ferry Pike
General Information
Standard status
Active
Size
720 SF
Total Parking Spaces
4
Property subtype
RETAIL
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Renovated
2024
Listing Agency:
Greater Impact Realty Knoxville
(480) 544-7606
Listed By:
Lisa McNealy
(480) 544-7606
Source:
Moodyscre
Added: Jun 14
Changed: Aug 29
Last Checked: Aug 29 at 4:54PM
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 Greater Impact Realty Knoxville
Investment Insights
Based on property information with market context.
This 720-square-foot property was rebuilt from the studs and renovated in 2024, with updated plumbing, electrical, insulation, drywall, lighting, flooring, and a split HVAC system with a new air handler. The current arrangement includes a foyer, bathroom, salon room, conference room, private office, and additional flex area. Salon cabinetry, a styling station, and wash bowl convey with the property, while a former kitchen area offers space for possible future installation. The property does not include a full kitchen or full shower/tub and is being sold as-is.
Direct adjacency to Asheville Highway provides access to a commercial corridor. The property is zoned for residential, live/work, and various commercial uses, subject to verification of zoning, permitting, and intended use. Exterior parking accommodates 3-4 vehicles. A washer and dryer connection for stack units is also included.
Direct adjacency to Asheville Highway provides access to a commercial corridor. The property is zoned for residential, live/work, and various commercial uses, subject to verification of zoning, permitting, and intended use. Exterior parking accommodates 3-4 vehicles. A washer and dryer connection for stack units is also included.
Key Highlights
- 720 sq ft property renovated in 2024
- Rebuilt from the studs with new plumbing, electrical, insulation, drywall, lighting, and LVP flooring
- Four separate rooms plus foyer and updated bathroom
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
$9,526
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
3.46%
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%
$190,520
$190.5K
Cap Rate 7%
$136,086
$136.1K
Cap Rate 9%
$105,844
$105.8K
Market Conditions
NOI Build-Up for 720 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
$15.1K $21.00/SF
− Vacancy
−$2.4K −$3.36/SF
EGI
$12.7K $17.64/SF
− OpEx
−$3.2K −$4.41/SF
NOI
$9.5K $13.23/SF
Area
Knoxville, TN
Vacancy
16.00%
Lease Rate
$21.00 /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%
$190,520
Cap Rate 7%
$136,086
Cap Rate 9%
$105,844
Alternative Uses
Best Use
Office B
$136.1K
$119.1K – $158.8K
NOI $9,526 @ 7.0% cap · market cap 3.46%
Second Best
Mixed Use
$112.3K
$98.3K – $131.0K
NOI $7,862 @ 7.0% cap · market cap 2.86%
Theoretical Best
Office A
$178.3K
$156.0K – $208.1K
NOI $12,483 @ 7.0% cap · market cap 4.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
Explore this area
Business Placement
Demographics for 37924, TN
12,894
Population
6,052
Households
2.1
Avg Household Size
41
Median Age
28%
College-Educated
91%
High-School Grad
27.9 sq mi
ZIP Area
462
Density / Sq Mi
$73,794
Median Household Income
$40,594
Median Earnings
$1,020
Median Rent
$217,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Flexible interior currently configured for salon and office use.
Where is this live-work space located?
The property is located at 6936 N Ruggles Ferry Pike Knoxville, TN.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 720 sq ft property renovated in 2024; Rebuilt from the studs with new plumbing, electrical, insulation, drywall, lighting, and LVP flooring; Four separate rooms plus foyer and updated bathroom
