Versatile Mixed-Use
For Sale
Contact for pricing
2500 Executive Park Dr NW, Cleveland, TN 37312
Executive offices, medical offices, and penthouse apartment in prime location.
Property Size4,342 SF
Price / SF$114.92
Days on Market724
Property Features for 2500 Executive Park Dr NW
General Information
Standard status
Active
Size
4,342 SF
Class
A
Property subtype
Mixed Use, Office
Building Details
Year Built
1986
Stories
3
Units
1
Listing Agency:
Bridge Real Estate Group
Listed By:
Cristy Schuch · License #351771
(423) 650-6856
Source:
Crexi
Added: Sep 9, 2024
Changed: Aug 28
Last Checked: Aug 28 at 10:53PM
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 Bridge Real Estate Group
Investment Insights
Based on property information with market context.
This property offers an opportunity to acquire a distinguished building encompassing 4,146 square feet of versatile space. It features executive offices designed to enhance productivity, and medical offices thoughtfully configured for a range of healthcare services. The property also includes a renovated penthouse apartment, a 1,585-square-foot residence ideal for use as a high-end Airbnb with its exclusive, serene environment and views. Situated in a prime location, this property is suitable for professionals, healthcare providers, or investors.
Key Highlights
- Prime and coveted location
- Versatile space of 4,146 square feet suitable for various uses
- Luxurious, renovated 1,585‑square‑foot penthouse apartment
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
$43,963
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
8.81%
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%
$879,260
$879.3K
Cap Rate 7%
$628,043
$628.0K
Cap Rate 9%
$488,478
$488.5K
Market Conditions
NOI Build-Up for 4,342 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
$78.2K $18.00/SF
− Vacancy
−$7.8K −$1.80/SF
EGI
$70.3K $16.20/SF
− OpEx
−$26.4K −$6.07/SF
NOI
$44.0K $10.13/SF
Area
Bradley County, TN
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$879,260
Cap Rate 7%
$628,043
Cap Rate 9%
$488,478
Alternative Uses
Best Use
Office B
$686.7K
$600.8K – $801.1K
NOI $48,066 @ 7.0% cap · market cap 9.63%
Second Best
Mixed Use
$628.0K
$549.5K – $732.7K
NOI $43,963 @ 7.0% cap · market cap 8.81%
Theoretical Best
Office A
$911.1K
$797.2K – $1.06M
NOI $63,775 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 37312, TN
36,291
Population
15,023
Households
2.4
Avg Household Size
42
Median Age
36%
College-Educated
93%
High-School Grad
64.4 sq mi
ZIP Area
564
Density / Sq Mi
$75,369
Median Household Income
$41,148
Median Earnings
$1,080
Median Rent
$270,500
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?
Mixed-use property - Executive offices, medical offices, and penthouse apartment in prime location.
Where is this mixed-use property located?
The property is located at 2500 Executive Park Dr NW Cleveland, TN.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Prime and coveted location; Versatile space of 4,146 square feet suitable for various uses; Luxurious, renovated 1,585‑square‑foot penthouse apartment
