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    134 Waupaca Dr Etowah, TN 37331
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    Property profile & analytics

    134 Waupaca Dr, Etowah, TN 37331

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    • Retail properties & Spaces
    • 387,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 134 Waupaca Dr

    Year built
    2001
    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional Etowah, Tennessee property, located at 134 Waupaca Drive, offers a unique opportunity for businesses seeking versatile manufacturing space. Situated on a substantial 227-acre lot, this multi-tenant facility boasts a total of 387,000 square feet of building space, with multiple units currently available. Individual spaces range from a minimum of 1,080 square feet to a maximum contiguous area of 2,090 square feet, providing flexibility for various operational needs. Currently, 5,245 square feet are vacant and ready for immediate occupancy. Built in 2001, the building features impressive ceiling heights ranging from 36 to 70 feet, ideal for accommodating large equipment and high-volume operations. Ample parking is provided with 350 spaces available for employees and visitors. The property is classified as Retail, Industrial, and Land, with a manufacturing subtype, reflecting its adaptability to a wide range of commercial uses. Its location in McMinn County, Tennessee, offers convenient access to transportation networks and a supportive business environment. This property presents a rare opportunity to acquire significant manufacturing space in a prime location. The expansive lot size also offers potential for future expansion or development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Etowah
    County
    McMinn
    State
    Tennessee
    Longitude
    -84.5228
    Latitude
    35.3622

    Comparable in this City

    • Value Estimation by Request
      132.00 Acres

      Industrial Park Dr

      Land
      0 Industrial Park Dr, Etowah, TN 37331
      View Details
    • Value Estimation by Request
      0.50 Acres

      US-411 Etowah Tn 37331

      Land
      US-411 Etowah Tn 37331, Etowah, TN 37331
      View Details
    • Value Estimation by Request
      7,575 SF

      119 9th St

      MANUFACTURING (LIGHT)
      119 9th St, Etowah, TN 37331-1370
      View Details
    • Value Estimation
      $650,000
      48,556 SF

      10th Ave

      MANUFACTURING (LIGHT)
      10th Ave, Etowah, TN 37331
      View Details
    • Value Estimation by Request
      1,344 SF

      1202 Tennessee Ave

      Individual retail properties
      1202 Tennessee Ave, Etowah, TN 37331
      View Details
    • Value Estimation by Request
      9,240 SF

      831 10th Ave

      DEPARTMENT STORE
      831 10th Ave, Etowah, TN 37331-1494
      View Details

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    Etowah, TN 37331
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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
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