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    Property profile & analytics

    905 Clingan Ridge Dr Cleveland, TN 37312

    • Medical offices
    • 8,237 SF
    • 1.59 lot acres
    For Sale
    View listing
    $3,890,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1124640
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Fresenius Kidney Care Bradley / Dialysis Center
    • Holly Endo / Nurse Practitioner
    • Dialysis Care Center Cleveland / Dialysis Center

    Property Details for 905 Clingan Ridge Dr

    Year built
    1997
    Lot size
    1.59 lot acres
    Property size
    8,237 SF
    Zone code
    CH
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    041L E 001.02 000
    APU
    041LE00102000

    Description

    This exceptional investment opportunity presents a 7,284 square foot medical office building in Cleveland, Tennessee, fully leased to a credit-rated national dialysis care center under a 10-year NNN lease with 9 years remaining. The property boasts a 5.50% cap rate and a strong net operating income (NOI) of $213,950, with built-in rent bumps ensuring consistent income growth. Situated on a 1.59-acre lot at 905 Clingan Ridge Dr NW, Cleveland, TN 37312, the building was constructed in 1997 and is zoned CH1.59. The tenant, a well-established national company, provides significant stability and security for investors. The lease includes two lease options, further enhancing the long-term value of this asset. The property's location in a rapidly growing area of Cleveland, Tennessee, contributes to its strong investment potential. The asking price is $3,890,000, translating to a price per square foot of $534.05. This is a prime opportunity for investors seeking a stable, high-performing asset in the healthcare sector. The property offers a secure and predictable income stream, making it an attractive addition to any diversified portfolio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $370,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $412,000
      Market price range: $368k - $834k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $565,000
      Current use
      RETAIL STORES
      $550,000
      Change: -3% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Bradley
    State
    Tennessee
    Longitude
    -84.8734
    Latitude
    35.187
    CBSA code
    17420
    CBSA name
    CLEVELAND, TN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,687
    $83,720
    $241,960
    $325,680
    -
    $209,300
    $604,900
    $814,200

    Comparable in this City

    • Value Estimation
      $435,000
      10,950 SF

      121 Interstate NW Dr

      MEDICAL BUILDING • 10,950 SF
      121 Interstate NW Dr, Cleveland, TN 37312-2642
      View Details
    • Value Estimation
      $365,000
      5,892 SF

      170 Mouse Crk NW Rd

      MEDICAL BUILDING • 5,892 SF
      170 Mouse Crk NW Rd, Cleveland, TN 37312-3840
      View Details
    • Value Estimation
      $500,000
      18,343 SF

      400 Berywood NW Trl

      MEDICAL BUILDING • 18,343 SF
      400 Berywood NW Trl, Cleveland, TN 37312-5287
      View Details
    • Value Estimation
      $670,000
      2,973 SF

      414 Berywood NW Trl

      MEDICAL BUILDING • 2,973 SF
      414 Berywood NW Trl, Cleveland, TN 37312-5251
      View Details
    • Value Estimation
      $335,000
      3,655 SF

      126 Stuart NE Xing

      MEDICAL BUILDING • 3,655 SF
      126 Stuart NE Xing, Cleveland, TN 37312-4065
      View Details
    • Value Estimation
      $345,000
      4,274 SF

      3913 Georgetown NW Rd

      MEDICAL BUILDING • 4,274 SF
      3913 Georgetown NW Rd, Cleveland, TN 37312-1806
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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    • Contact for pricing
      5,164 SF

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    • $1,495 /Mo

      Class A Office Condo

      Class A office condo available for lease.
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    • $12 SF/Yr
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      Bradley Place Executive Suites

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    • $3,000 /Mo

      Versatile Office Space Near Interstate

      Professional office space for lease with excellent accessibility and functionality.
      1600 Clingan Ridge Dr Nw, Cleveland, TN 37312
      View Details
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    Cleveland, TN 37312
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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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