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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    424 Obed Plz Crossville, TN 38555

    • Strip malls
    • 16,320 SF
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Firehouse Subs Crossville / Sandwich Shop / Caterer
    • Rent-A-Center / Furniture Rental Service / Electronics Store
    • Vape Tobacco & More / Tobacco Shop
    • Marco's Pizza / Pizza Restaurant / Takeout Restaurant

    Property Details for 424 Obed Plz

    Property size
    16,320 SF
    Property type
    Strip malls
    Property subtype
    Retail properties

    Description

    Crossville Plaza offers a prime retail opportunity within a thriving Walmart shadow center. This 16,320 square foot strip mall boasts five suites, with one currently available for lease. Strategically located on N Main St / US Hwy 127 in Crossville, the plaza benefits from the significant draw of a high-performing Walmart, attracting 3.5 million annual visitors from Crossville and surrounding areas. The shared entrance with Walmart ensures exceptional visibility and consistent foot traffic, making it ideal for a variety of businesses. Current anchor tenants include Firehouse Subs and Rent-A-Center, providing a strong tenant mix and further enhancing the center's appeal. The plaza's location also benefits from proximity to other national retailers such as Lowe's, Staples, Jersey Mike's, and Papa John's, creating a robust retail environment. This presents a unique chance to establish a business in a high-traffic, well-established shopping center with a proven track record of success. The available space is perfect for retail, healthcare services, or a restaurant seeking high visibility and a steady stream of customers. Inquire today to learn more about this exceptional retail opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Crossville
    County
    Cumberland
    State
    Tennessee
    Longitude
    -85.0381
    Latitude
    35.9841

    Comparable in this City

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      228 Interstate Dr

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    • Value Estimation by Request
      75,060 SF

      100 Cumberland Plz

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      100 Cumberland Plz, Crossville, TN 38555
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    • Value Estimation
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      106 Cumberland Sq

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    • Value Estimation by Request
      6,889 SF

      2010 Genesis Rd

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    • Value Estimation
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      2547 Main St

      DEPARTMENT STORE • 24,576 SF
      2547 Main St, Crossville, TN 38555-5407
      View Details
    • Value Estimation
      $2,770,000
      85,774 SF

      190 Cumberland Sq

      DEPARTMENT STORE • 85,774 SF
      190 Cumberland Sq, Crossville, TN 38555-4054
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      16,320 SF

      Crossville Plaza Retail Space Available

      High-traffic Walmart shadow center; 1 space available.
      424 Obed Plz, Crossville, TN 38555
      View Details
    • $19 SF/Yr
      1,600 SF

      Retail Space in Crossville Center

      Retail or office space in popular Crossville shopping center.
      126 The Crossings, Crossville, TN 38555
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      Retail Space Available For Lease

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      Crossville Office Suite For Lease

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      Crossville Warehouse with Fenced Area

      Industrial warehouse with fenced area and office space for lease.
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      Crossville Office Space For Lease

      9000 SF office space for lease in Crossville, TN.
      456 N Main St, Crossville, TN 38555
      View Details
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    424 Obed Plz
    Crossville, TN 38555
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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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