Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    411 Minnis Rd Cleveland, TN 37323
    Back to Search
    Property profile & analytics

    411 Minnis Rd Cleveland, TN 37323

    View on Map
    • Residential income homes
    • 16,912 SF
    • 2.98 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 411 Minnis Rd

    Year built
    2024
    Lot size
    2.98 lot acres
    Property size
    16,912 SF
    Property type
    Residential income homes

    Description

    Exceptional investment opportunity in Cleveland, Tennessee, featuring a 16-unit single-family rental portfolio currently under construction, with an estimated completion date of January/February 2025. This meticulously crafted subdivision boasts four buildings, each one-story, totaling 16,912 square feet on a 2.98-acre lot. Each unit offers a desirable one-level floor plan, including two bedrooms, two bathrooms, an open main living area, and a spacious laundry room. High-quality finishes throughout include LVP flooring in the main living areas, LVT in bathrooms, carpet in bedrooms, 9-foot ceilings, granite or quartz countertops, and soft-close cabinetry. The builder is including side-by-side refrigerators and 2" white faux wood blinds, making these units truly move-in ready. Located in a prime location within walking distance of Elrod Park ballfields and Park View Elementary School, and within five miles of several grocery stores, this property offers unparalleled convenience and tenant appeal. The property is zoned R1 and comes with a one-year builder's warranty, ensuring a secure and profitable investment. This portfolio presents a rare chance to acquire a brand-new, high-quality rental property with significant long-term appreciation potential. The asking price is $3,760,000, or $235,000 per unit, representing a price per square foot of $222.33. Photos shown are of previously built units with the same floor plan.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Bradley
    State
    Tennessee
    Longitude
    -84.8213
    Latitude
    35.1543

    Comparable in this City

    • Value Estimation by Request

      793 York Rd

      Land
      793 York Rd, Cleveland, TN 37323
      View Details
    • Value Estimation by Request
      0.20 Acres

      Bates SE Park

      VACANT COMMERCIAL LAND • 0.20 Acres
      Bates SE Park, Cleveland, TN 37323
      View Details
    • Value Estimation by Request
      0.25 Acres

      241 Old Powerline NE Ln

      VACANT COMMERCIAL LAND • 0.25 Acres
      241 Old Powerline NE Ln, Cleveland, TN 37323-5224
      View Details
    • Value Estimation by Request
      1.50 Acres

      3577 Spg Pl SE Rd

      COMMERCIAL (GENERAL) • 1.50 Acres
      3577 Spg Pl SE Rd, Cleveland, TN 37323-8489
      View Details
    • Value Estimation by Request
      0.10 Acres

      Waterlevel E Hwy

      VACANT COMMERCIAL LAND • 0.10 Acres
      Waterlevel E Hwy, Cleveland, TN 37323
      View Details
    • Value Estimation by Request
      1.00 Acre

      Waterlevel E Hwy

      VACANT COMMERCIAL LAND • 1.00 Acre
      Waterlevel E Hwy, Cleveland, TN 37323
      View Details

    Similar Nearby for Sale

    • New
      $1,060,000
      Pending

      New Quadruplex Townhome-Style Investment

      New construction quadruplex with townhome-style units, stainless appliances, and garages.
      1922 Cypress Ln, Cleveland, TN 37323
      View Details
    • New
      $265,000
      1,510 SF

      Charming Cottage with Airbnb Success

      Brick cottage with proven Airbnb success on 1.6 acres.
      4410 Michigan Avenue Rd NE, Cleveland, TN 37323
      View Details
    • $695,000
      4,508 SF

      Established Restaurant with Apartment

      Successful restaurant with updated apartment for extra income.
      1803 Apd 40, Cleveland, TN 37323
      View Details
    • $400,000
      17.50 Acres

      Sprawling Tennessee Land with Home

      18.7 acres in Cleveland, TN with a charming 2-bedroom home.
      4222 Bates Pike SE, Cleveland, TN 37323
      View Details
    • $2,380,000
      10,076 SF

      Commercial Buildings on Major Highway

      Two commercial buildings with excellent parking and storage.
      1811-1823 Apd 40, Cleveland, TN 37323
      View Details
    • $70,000
      1.47 Acres

      Residential Land in Cleveland, TN

      Private land ready for your dream home.
      Fire Tower Rd, Cleveland, TN 37323
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    411 Minnis Rd
    Cleveland, TN 37323
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    411 Minnis Rd, Cleveland, TN, 37323
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!