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    3297 Cosby Hwy Cosby, TN 37722

    Sponsored
    For Lease
    $7 SF/Yr ($5,258 /Mo)

    9,014 SF Retail Building - For Sale/Lease

    Lot size:
    9,014 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    412
    This exceptional 9,014-square-foot stand-alone retail building presents a unique investment or leasing opportunity in Cosby, Tennessee. Situated on a 1.05-acre lot, the property boasts a 2006 construction date and is currently entirely vacant, offering complete flexibility for a new tenant or owner. The building is zoned unzoned, providing potential for a variety of uses. The property is available for both sale and lease. Lease terms include a Net Net (NN) structure, with the landlord responsible for roof repairs and maintenance. Tenant responsibilities encompass property taxes, insurance, and all other operating expenses. The base rent is $6,098 per month, translating to $7.00 per square foot annually, based on a 5-year initial lease term. The space is divisible, offering the potential for two 4,507-square-foot rentable units, or other configurations as mutually agreed upon. Located at 3297 Cosby Highway, Cocke County, TN 37722, this property offers high visibility and accessibility. Its single-tenant occupancy allows for a streamlined management approach, making it an attractive option for businesses seeking a prominent location in a growing market. The property's size and layout provide ample space for a variety of retail concepts, making it an ideal choice for entrepreneurs and established businesses alike. This is a rare opportunity to acquire a well-maintained, strategically located retail space in a desirable area.

    Property Features for 3297 Cosby Hwy

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    9,014 SF
    Total Rate
    5258.17

    Building Details

    Year Built
    2006

    Unit(s) available at that property

    Space
    Available Space
    Size
    9,014 SF
    Rate per SF
    $7

    We can help!

    Listing Contact
    David Gothard
    David Gothard

    Learn more

    Property Insight Report

    HighLights

    • 9,014 SF stand‑alone retail building on a 1.05‑acre lot in Cosby, TN.
    • Net Net (NN) lease; Landlord covers roof repairs and maintenance; Tenant responsible for all other operating expenses.
    • Divisible into two 4,507 SF units, or other configurations.
    • Available for sale or lease, currently vacant.
    Property Profile Location Intelligence

    Current Use by Public Records

    Redbox Movie Rental Kiosk Western Union Money Transfer Service

    Suggested Use

    Restaurant Spa & Massage Hair Salon Nail Salon Hotel & Motel Storage Facility Smoke and Vape Shop Barber Shop Pet Store Bed & Breakfast

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cosby
    County
    Cocke
    State
    Tennessee
    Longitude
    -83.2232876
    Latitude
    35.8432727

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    FAQs

    What type of property is this?
    Retail property - 9,014 SF Retail Building - For Sale/Lease
    Where is this retail property located?
    The property is located at 3297 Cosby Hwy Cosby, TN.
    What is the lease rate?
    The lease rate is $7 SF/Yr.
    What are key features of this property?
    This property features: 9,014 SF stand-alone retail building on a 1.05-acre lot in Cosby, TN.; Net Net (NN) lease; Landlord covers roof repairs and maintenance; Tenant responsible for all other operating expenses.; Divisible into two 4,507 SF units, or other configurations.
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    3297 Cosby Hwy Cosby, TN 37722
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    Cosby, TN 37722
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3297 Cosby Hwy Cosby, TN 37722
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    We can help!
    Listing Contact
    David Gothard
    David Gothard
    Real Estate License ID: TN 262082
    Learn more
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