Listing Agency: Blevins Group, Realty Executives Show Phone

Listed By: Scott Blevins · License #337261 Show Phone

Source: Moodyscre

Added: May 28 Changed: Sep 20 Last Checked: Sep 20 at 2:48PM

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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 Blevins Group, Realty Executives

Investment Insights

Based on property information with market context.

This retail space contains 1,040 square feet and is identified by both 924 and 930 East Cumberland Drive. The building faces Alcoa Highway, placing the property along a heavily traveled commercial corridor with approximately 50,000 vehicles passing daily.

The property is in Louisville, Tennessee, with McGhee Tyson Airport located only minutes away. Its position provides access to Alcoa Highway and other major corridors, while the two-address configuration creates additional flexibility for the site. The property information identifies potential applications including office, retail, and service business use.

Key Highlights

• 1,040‑square‑foot retail building
• Faces Alcoa Highway
• Approximately 50,000 vehicles per day

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

$16,069

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

4.02%

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%

$321,380 $321.4K

Cap Rate 7%

$229,557 $229.6K

Cap Rate 9%

$178,544 $178.5K

Market Conditions

NOI Build-Up for 1,040 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

$24.0K $23.04/SF

− Vacancy

−$1.0K −$0.97/SF

EGI

$23.0K $22.07/SF

− OpEx

−$6.9K −$6.62/SF

NOI

$16.1K $15.45/SF

Area

Blount County, TN

Vacancy

4.20%

Lease Rate

$23.04 /SF/Yr

Expense Ratio

30.00%

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%

$321,380

Cap Rate 7%

$229,557

Cap Rate 9%

$178,544

Alternative Uses

Best Use

Retail

$229.6K

$200.9K – $267.8K (±1% cap)

NOI $16,069 @ 7.0% cap · market cap 4.02%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$418.7K

$366.4K – $488.5K (±1% cap)

NOI $29,309 @ 7.0% cap · market cap 7.33%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Real Estate Agency Dental Office Restaurant Kitchen & Bath Showroom (Bike/Boat/Book/etc) Store Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

50,000 VPD

Traffic count

Location Intelligence

Trade Area within ½ mile

117

Businesses Nearby

Explore this area Business Placement

Demographics for 37777, TN

12,200

Population

5,995

Households

2

Avg Household Size

44

Median Age

27%

College-Educated

91%

High-School Grad

32.9 sq mi

ZIP Area

371

Density / Sq Mi

$74,357

Median Household Income

$39,712

Median Earnings

$814

Median Rent

$297,200

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

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What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Retail space - The building fronts Alcoa Highway and encompasses two East Cumberland Drive addresses.

Where is this retail space located?

The property is located at 924-930 E Cumberland Dr Louisville, TN.

What is the asking price?

The asking price for this property is $399,900.

What are key features of this property?

This property features: 1,040‑square‑foot retail building; Faces Alcoa Highway; Approximately 50,000 vehicles per day