Renovated Restaurant With Beer
For Sale
$1,800,000
1 N Lowry St, Smyrna, TN 37167
Two-story property with a commercial kitchen, basement storage, and multiple outdoor seating areas.
Property Size5,220 SF
Days on Market23
Property Features for 1 N Lowry St
General Information
Standard status
Active
Size
5,220 SF
Property subtype
Commercial
Zoning
C-1
Building Details
Building Size
5,220 SF
Year Built
1950
Listing Agency:
SVN Accel Commercial Real Estate
(843) 412-5391
Listed By:
Kyle Robeson · License #361043
(843) 412-5391
Source:
Firstrealty
Added: Jul 27
Changed: Aug 15
Last Checked: Aug 17 at 11:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SVN Accel Commercial Real Estate
Investment Insights
Based on property information with market context.
This conventional restaurant property provides 5,220 SF of interior space arranged across two floors, plus a full dry basement for storage. The first level contains a full commercial kitchen, while the building incorporates exposed brick, open ceilings, custom shelving, a built-to-order bar, and custom overhead glass doors. Renovation work addressed the framing, trusses, foundation, grease trap, sprinkler system, roof, MEP systems, electrical, HVAC, plumbing, windows, and doors.
Outdoor amenities include a ground-level beer garden of approximately ~3,000 SF with a separate bar, along with a second-floor deck that adds outdoor seating. The property occupies a hard corner in Smyrna’s Depot District, an area identified as part of the downtown revitalization. C-1 zoning supports the property’s restaurant-oriented commercial use.
Outdoor amenities include a ground-level beer garden of approximately ~3,000 SF with a separate bar, along with a second-floor deck that adds outdoor seating. The property occupies a hard corner in Smyrna’s Depot District, an area identified as part of the downtown revitalization. C-1 zoning supports the property’s restaurant-oriented commercial use.
Key Highlights
- 5,220 SF of interior space across two floors, plus a full dry basement
- Approximately ~3,000 SF ground‑level beer garden with standalone bar
- Second‑floor deck provides additional outdoor seating
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$126,282
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,525,640
$2.5M
Cap Rate 7%
$1,804,029
$1.8M
Cap Rate 9%
$1,403,133
$1.4M
Market Conditions
NOI Build-Up for 5,220 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$175.4K $33.60/SF
− Vacancy
−$7.0K −$1.34/SF
EGI
$168.4K $32.26/SF
− OpEx
−$42.1K −$8.06/SF
NOI
$126.3K $24.19/SF
Area
Rutherford County, TN
Vacancy
4.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,525,640
Cap Rate 7%
$1,804,029
Cap Rate 9%
$1,403,133
Alternative Uses
Best Use
Specialty Retail
$1.80M
$1.58M – $2.10M
NOI $126,282 @ 7.0% cap · market cap 7.02%
Second Best
Industrial
$493.2K
$431.5K – $575.4K
NOI $34,522 @ 7.0% cap · market cap 1.92%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
10k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
7-Eleven
Shops & Services
6,555 visits/mo
0.5 miles
Compass Self Storage
Shops & Services
1,864 visits/mo
0.2 miles
Firestone Complete Auto Care
Shops & Services
1,269 visits/mo
0.4 miles
Demographics for 37167, TN
61,731
Population
23,694
Households
2.6
Avg Household Size
36
Median Age
28%
College-Educated
90%
High-School Grad
55.0 sq mi
ZIP Area
1,122
Density / Sq Mi
$79,720
Median Household Income
$42,705
Median Earnings
$1,359
Median Rent
$330,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Two-story property with a commercial kitchen, basement storage, and multiple outdoor seating areas.
Where is this conventional restaurant located?
The property is located at 1 N Lowry St Smyrna, TN.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 5,220 SF of interior space across two floors, plus a full dry basement; Approximately ~3,000 SF ground‑level beer garden with standalone bar; Second‑floor deck provides additional outdoor seating
