Leased Manufacturing
1 & 2 Swan Drive, Smyrna, TN 37167
For Sale
Contact for pricing
The multi-market facilities support manufacturing, research and development, warehousing, and distribution under Absolute NNN leases.
Property Size923,782 SF
Price / SF$72.34
Days on Market47
Property Features for 1 & 2 Swan Drive
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Tenant in Place
Property Use
Building Details
Tenancy
Listing Agency:
Northmarq - Tulsa
Listed By:
Rocco Driscoll · License #10401370484
Source:
Crexi
Added: Sep 24
Changed: Nov 8
Last Checked: Nov 8 at 3:55PM
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 Northmarq - Tulsa
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Investment Insights
Based on property information with market context.
This 923,782-square-foot portfolio comprises manufacturing, research and development, warehousing, and distribution facilities in Smyrna, Tennessee, and St. Louis, Missouri. Nice-Pak Products, LLC occupies the properties under Absolute NNN leases, with lease obligations guaranteed by Emprise HPC, LLC.
The leases run through September 2041 and include approximately 15 years of remaining term, 2% annual rent escalations, and four five-year renewal options. The properties may be acquired separately or together as a portfolio.
The leases run through September 2041 and include approximately 15 years of remaining term, 2% annual rent escalations, and four five-year renewal options. The properties may be acquired separately or together as a portfolio.
Key Highlights
- 923,782 square feet across properties in Smyrna, Tennessee, and St. Louis, Missouri
- Leased to Nice‑Pak Products, LLC under Absolute NNN terms
- Lease term extends through September 2041, with approximately 15 years remaining
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,109,363
Cap Rate
9.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$122,187,260
$122.2M
Cap Rate 7%
$87,276,614
$87.3M
Cap Rate 9%
$67,881,811
$67.9M
Market Conditions
NOI Build-Up for 923,782 SF
Gross rent
$9.01M $9.75/SF
− Vacancy
−$279.2K −$0.30/SF
EGI
$8.73M $9.45/SF
− OpEx
−$2.62M −$2.83/SF
NOI
$6.11M $6.61/SF
Area
Rutherford County, TN
Vacancy
3.10%
Lease Rate
$9.75 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$122,187,260
Cap Rate 7%
$87,276,614
Cap Rate 9%
$67,881,811
Alternative Uses
Best Use
Warehouse
$105.98M
$92.73M – $123.64M
NOI $7,418,512 @ 7.0% cap · market cap 11.10%
Second Best
Industrial
$87.28M
$76.37M – $101.82M
NOI $6,109,363 @ 7.0% cap · market cap 9.14%
Theoretical Best
Specialty Retail
$319.26M
$279.35M – $372.47M
NOI $22,348,134 @ 7.0% cap · market cap 33.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
Explore this area
Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Manufacturing property - The multi-market facilities support manufacturing, research and development, warehousing, and distribution under Absolute NNN leases.
Where is this manufacturing property located?
The property is located at 1 & 2 Swan Drive Smyrna, TN.
What is the asking price?
The asking price for this property is $66,823,000.
What are key features of this property?
This property features: 923,782 square feet across properties in Smyrna, Tennessee, and St. Louis, Missouri; Leased to Nice‑Pak Products, LLC under Absolute NNN terms; Lease term extends through September 2041, with approximately 15 years remaining
