Gas Station Site with Road
For Sale
$375,000
8390 N Lee Highway, Charleston, TN 37310
COMMERCIAL - Charleston, TN
Property Size2,580 SF
Lot Size1.90 Acres
Price / SF$145.35
Days on Market484
Property Features for 8390 N Lee Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
6
Lot features
Level, Cleared, Level, Cleared
Elementary school
Charleston
Middle school
Charleston
High school
Walker Valley
Directions
FROM KEITH STREET GOING NORTH TOWARD CHARLESTON, GO APPROXIMATELY 8 MILES TO CHARLESTON, THE DESTINATION IS ON YOUR LEFT RIGHT BESIDE TARVER DISTRIBUTING
Standard status
Active
APN
016 04100 000
Size
2,580 SF
Lot size
1.90 Acres
Taxes and HOA fees
Tax Annual Amount
742
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Wood Stove, Wood
Cooling system
Window Unit(s)
Water source
Public
Amenities
wood shop
apartment
mobile home
Building Details
Year built
1939
Flooring type
Concrete, Hardwood
Building materials
Stucco, Wood Siding
Roof type
Shingle
Listing Agency:
Realty One Group Experts - Cleveland
(423) 541-0100
Listed By:
Lori McKay · License #323630
(423) 650-0628
Added: Apr 23, 2025
Changed: Aug 4
Last Checked: Aug 19 at 10:06PM
MLS# 20251881
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.
Investment Insights
Based on property information with market context.
Commercial gas station site on 1.9 acres with 210 ft of road frontage on N Lee Highway, located right off the I-75 Charleston exit. The property sits in a high-traffic area and is offered as-is, with suitability for a gas station, convenience store, or restaurant for Interstate travelers.
Current utilities include public water and a septic tank system. City sewer approval is referenced through Calhoun/Charleston Utilities and TDOT with City Sewer estimated to be 200–300 feet across the street, subject to an approved site plan. Cable service is available.
Improvements include a structure with stucco and wood siding, shingle roof, hardwood and concrete flooring, window unit cooling, and wood/wood stove heating. The property was used as a wood shop and includes a small apartment on top that is not accessible due to damaged stairs. A mobile home on the property is currently occupied.
Current utilities include public water and a septic tank system. City sewer approval is referenced through Calhoun/Charleston Utilities and TDOT with City Sewer estimated to be 200–300 feet across the street, subject to an approved site plan. Cable service is available.
Improvements include a structure with stucco and wood siding, shingle roof, hardwood and concrete flooring, window unit cooling, and wood/wood stove heating. The property was used as a wood shop and includes a small apartment on top that is not accessible due to damaged stairs. A mobile home on the property is currently occupied.
Key Highlights
- 1.9‑acre gas station site with 210 ft of road frontage off the I‑75 Charleston exit
- Zoned Commercial
- Public water and septic tank sewer system
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
$26,053
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
6.95%
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%
$521,060
$521.1K
Cap Rate 7%
$372,186
$372.2K
Cap Rate 9%
$289,478
$289.5K
Market Conditions
NOI Build-Up for 2,580 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
$37.2K $14.40/SF
− Vacancy
−$2.4K −$0.94/SF
EGI
$34.7K $13.46/SF
− OpEx
−$8.7K −$3.37/SF
NOI
$26.1K $10.10/SF
Area
Bradley County, TN
Vacancy
6.50%
Lease Rate
$14.40 /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%
$521,060
Cap Rate 7%
$372,186
Cap Rate 9%
$289,478
Alternative Uses
Best Use
Specialty Retail
$372.2K
$325.7K – $434.2K
NOI $26,053 @ 7.0% cap · market cap 6.95%
Second Best
Retail
$348.3K
$304.8K – $406.4K
NOI $24,381 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$541.4K
$473.7K – $631.6K
NOI $37,895 @ 7.0% cap · market cap 10.11%
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
40
Businesses Nearby
7k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 100%
Piggly Wiggly
Groceries
6,858 visits/mo
0.3 miles
Demographics for 37310, TN
4,384
Population
1,736
Households
2.5
Avg Household Size
45
Median Age
10%
College-Educated
90%
High-School Grad
42.7 sq mi
ZIP Area
103
Density / Sq Mi
$76,401
Median Household Income
$42,090
Median Earnings
$848
Median Rent
$223,000
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?
Gas station - Commercial-zoned gas station site near I-75 with public water and septic service.
Where is this gas station located?
The property is located at 8390 N Lee Highway Charleston, TN.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 1.9‑acre gas station site with 210 ft of road frontage off the I‑75 Charleston exit; Zoned Commercial; Public water and septic tank sewer system
