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

    237 Central NE Ave Cleveland, TN 37311-5324

    • Retail space
    • 5,724 SF
    • 0.25 lot acres
    OFF-MARKET
    Value Estimations
    $210,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0998069
    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

    • Retail space

    Property Details for 237 Central NE Ave

    Year built
    1946
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.25 lot acres
    Property size
    5,724 SF
    Zone code
    CBD
    Property type
    Retail space
    APN
    049M O 026.00 000
    APU
    049MO02600000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $240,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $175,000
      Market price range: $175k - $781k
      AI Estimate
      $204,000
      Market price range: $205k - $763k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $385,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Cleveland
    County
    Bradley
    State
    Tennessee
    Longitude
    -84.8719
    Latitude
    35.1601
    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
    $579
    $17,000
    $23,200
    $40,200
    -
    $42,500
    $58,000
    $100,500

    Comparable in this City

    • Value Estimation
      $225,000
      1,326 SF

      29 Sipes NW St

      RETAIL STORES (PERSONAL SERVICES) • 1,326 SF
      29 Sipes NW St, Cleveland, TN 37311
      View Details
    • Value Estimation
      $290,000
      9,024 SF

      537 Inman W St

      RETAIL STORES (PERSONAL SERVICES) • 9,024 SF
      537 Inman W St, Cleveland, TN 37311-1768
      View Details
    • Value Estimation
      $235,000
      2,256 SF

      440 Inman W St

      RETAIL STORES (PERSONAL SERVICES) • 2,256 SF
      440 Inman W St, Cleveland, TN 37311-1765
      View Details
    • Value Estimation
      $330,000
      4,536 SF

      699 17th NW St

      RETAIL STORES (PERSONAL SERVICES) • 4,536 SF
      699 17th NW St, Cleveland, TN 37311-4340
      View Details
    • Value Estimation
      $280,000
      7,420 SF

      180 1st NE St

      RETAIL STORES (PERSONAL SERVICES) • 7,420 SF
      180 1st NE St, Cleveland, TN 37311-5303
      View Details
    • Value Estimation
      $245,000
      3,800 SF

      219 1st NE St

      RETAIL STORES (PERSONAL SERVICES) • 3,800 SF
      219 1st NE St, Cleveland, TN 37311-5306
      View Details

    Similar Nearby for Sale

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      1,200 SF

      Downtown Commercial Building For Sale

      Prime commercial building in high-traffic downtown location, move-in ready.
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    • $625,000
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      Downtown Cleveland Retail Opportunity

      Prime Commercial Property, High Visibility
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    • $949,000
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      Commercial Property on Spring Place Road

      4.2-acre commercial property with 2,700 sq ft building.
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    • $649,000
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      Cleveland Commercial Properties Package

      Two commercial properties with unlimited potential in Cleveland, Tennessee.
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    • $1,700,000
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      Commercial Property Near I-75

      Commercial property with multiple buildings and ample parking near I-75.
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    Similar Nearby for Lease

    • $1,450 /Mo
      990 SF

      Furnished Hair Salon For Rent

      Fully furnished hair salon with 8 stations in excellent condition.
      2328 Georgetown Rd NW, Cleveland, TN 37311
      View Details
    • $14 SF/Yr
      6,300 SF

      Renovated Shop Space For Rent

      Renovated shop space with office and wash bay available for rent.
      1009 S Lee Hwy, Cleveland, TN 37311
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    • Contact for pricing
      6,800 SF

      Retail Space in Cleveland, Tennessee

      Retail property in a key regional hub near Chattanooga.
      200-222 Grove Ave NW, Cleveland, TN 37311
      View Details
    • Contact for pricing

      Retail Space in Cleveland, TN

      Grocery-anchored retail space available in Cleveland, Tennessee.
      200 Grove Ave Southwest, Cleveland, TN 37311
      View Details
    • $12 SF/Yr
      2,000 SF

      Divisible Office Space Available

      Office space for rent, divisible to 2,000 square feet.
      201-225 Keith St SW, Cleveland, TN 37311
      View Details
    • $3,750 /Mo
      2,240 SF

      Cleveland Office Space For Lease

      2240 sq ft office space available for lease in Cleveland.
      2703 Ralph Buckner Blvd NE, Cleveland, TN 37311
      View Details
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    237 Central NE Ave
    Cleveland, TN 37311-5324
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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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