Versatile Mixed-Use
2500 Executive Park Dr NW, Cleveland, TN 37312
Executive offices, medical offices, and penthouse apartment in prime location.
Type:Mixed Use, Office
Property size:
4,342 SFPrice / SF:
$137/SF- Added:
- Sep 9, 2024
- Days on Market:
- 633
- Last Refresh:
- May 12 at 8:27 pm
Property Features for 2500 Executive Park Dr NW
General Information
- Standard status
- Active
- Size
- 4,342 SF
- Property subtype
- Mixed Use, Office
Building Details
- Year Built
- 1986
Listing agent Cristy Schuch License #351771
Listing office Bridge Real Estate Group
Listing date Sep 9, 2024
Source Crexi
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
HighLights
- Prime and coveted location
- Versatile space of 4,146 square feet suitable for various uses
- Luxurious, renovated 1,585‑square‑foot penthouse apartment
- Potential for high‑end Airbnb income from the penthouse apartment
- State‑of‑the‑art medical office facilities
- Elegantly designed and impeccably appointed executive offices
Overview
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.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $78.2k | $18.00 |
| − Vacancy | −$14.1k | −$3.24 |
| EGI | $64.1k | $14.76 |
| − OpEx | −$16.0k | −$3.69 |
| NOI | $48.1k | $11.07 |
4,342 SF · lease $18.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$686.7K
$600.8K – $801.1K
NOI $48,066 @ 7.0% cap · market cap 8.02%
Second Best
Mixed Use
$628.0K
$549.5K – $732.7K
NOI $43,963 @ 7.0% cap · market cap 7.34%
Theoretical Best
Office A
$911.1K
$797.2K – $1.06M
NOI $63,775 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office buildings
Map
- City
- Cleveland
- County
- Bradley
- State
- Tennessee
- Longitude
- -84.8428
- Latitude
- 35.2131
Nearby Similar for Sale
FAQs
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 $599,000.
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
