Building Details

Buildings 1

Listing Agency: Reliant Realty ERA Powered Show Phone

Listed By: Jill Weida Show Phone

Source: Exprealty

Added: Sep 13 Changed: Sep 22 Last Checked: Sep 23 at 12:32AM

Report an Issue

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 Reliant Realty ERA Powered

Investment Insights

Based on property information with market context.

This 1,920-square-foot duplex includes new HVAC systems serving both sides and updated plumbing. The corner property is located in Old Hickory Village at 1003 Bryan St, Old Hickory, TN 37138.

Showings are available only with accepted offers, and the property includes tenant occupancy considerations for access.

Key Highlights

• Corner duplex in Old Hickory Village
• 1,920 square feet
• New HVAC on both sides

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

$23,153

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

5.86%

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%

$463,060 $463.1K

Cap Rate 7%

$330,757 $330.8K

Cap Rate 9%

$257,256 $257.3K

Market Conditions

NOI Build-Up for 1,920 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

$35.3K $18.36/SF

− Vacancy

−$2.2K −$1.13/SF

EGI

$33.1K $17.23/SF

− OpEx

−$9.9K −$5.17/SF

NOI

$23.2K $12.06/SF

Area

Davidson County, TN

Vacancy

6.17%

Lease Rate

$18.36 /SF/Yr

Expense Ratio

30.00%

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%

$463,060

Cap Rate 7%

$330,757

Cap Rate 9%

$257,256

Alternative Uses

Best Use

Multifamily LT 5

$330.8K

$289.4K – $385.9K (±1% cap)

NOI $23,153 @ 7.0% cap · market cap 5.86%

Second Best

Apartment 5plus

$304.7K

$266.6K – $355.5K (±1% cap)

NOI $21,327 @ 7.0% cap · market cap 5.40%

Theoretical Best

Warehouse

$2.32M

$2.03M – $2.71M (±1% cap)

NOI $162,712 @ 7.0% cap · market cap 41.19%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Duplexes

Suggested Use

Top Pick Law Firm Parking Lot & Garage Electrical Service Plumbing Service HVAC Service Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

271

Businesses Nearby

Explore this area Business Placement

Demographics for 37138, TN

23,631

Population

9,905

Households

2.4

Avg Household Size

43

Median Age

40%

College-Educated

94%

High-School Grad

17.9 sq mi

ZIP Area

1,320

Density / Sq Mi

$87,450

Median Household Income

$54,738

Median Earnings

$1,427

Median Rent

$347,500

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Mixed-Use Building in Old Hickory

521 Old Hickory Blvd, Old Hickory, TN 37138

$975,000

5,543 SF

View details

CS-Zoned Storefront Property

4990 Lebanon Pike, Old Hickory, TN 37138

$899,900

View details

Two-Unit Mixed-Use Property

4979 Lebanon Pike, Old Hickory, TN 37138

$710,700

View details

Frequently Asked Questions

What type of property is this?

Duplex - Two-unit property with new HVAC systems and updated plumbing throughout.

Where is this duplex located?

The property is located at 1003 Bryan St Old Hickory, TN.

What is the asking price?

The asking price for this property is $395,000.

What are key features of this property?

This property features: Corner duplex in Old Hickory Village; 1,920 square feet; New HVAC on both sides