Office/Flex Property with Dock-High
For Sale
$8,950,000
1005 Flagpole Ct, Brentwood, TN 37027
Two-story office/flex asset with multiple dock-high doors, C-3 zoning, and suite configuration for mixed tenant use.
Property Size25,230 SF
Lot Size1.69 Acres
Price / SF$354.74
Days on Market67
Property Features for 1005 Flagpole Ct
General Information
Standard status
Active
Size
25,230 SF
Total Parking Spaces
32
Lot size
1.69 Acres
Property subtype
Commercial
Zoning
C-3
Occupancy
80%
Warehouse & Industrial
Clear Height
14 ft
Dock-High Doors
3
Drive-In Doors
1
Additional Details
Cap Rate
6.75%
Highway Access
Yes
Office Units
5
Amenities
Metal Roof
Building Details
Year Built
2007
Stories
2
Tenancy
Multi
Listing Agency:
COMPASS RE
(615) 475-5616
Listed By:
JAMIE BRANDENBURG · License #344013
Source:
Corcoran
Added: Jun 3
Changed: Aug 8
Last Checked: Jul 16 at 5:15AM
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 COMPASS RE
Investment Insights
Based on property information with market context.
1005 Flagpole Court is a two-story office/flex property constructed in 2007 and set on 1.69 acres. The building is configured with five suites, including four leased spaces and one vacant suite. Flexible industrial support includes three dock-high doors and one drive-in door, with 14’ clear heights designed to accommodate practical office and light industrial operations. Exterior amenities include 32 surface parking spaces, and the layout is built for tenants seeking a blend of professional space and warehouse functionality.
The property is positioned in Brentwood’s Cool Springs submarket with convenient access to I-65 via Moores Lane and Cool Springs Blvd. The immediate surrounding area includes major corporate offices, retail destinations, restaurants, hotels, and luxury automotive dealerships such as Porsche, BMW, Audi, and Lamborghini.
For buyers and operators, the current suite mix provides in-place income with room to finish out the vacant suite. C-3 zoning broadens potential tenant fit for uses that require both office presence and flexible loading capabilities. The offering is presented as a leased investment opportunity, with underwriting referenced in the remarks for an anticipated approximately 6.75% cap rate.
The property is positioned in Brentwood’s Cool Springs submarket with convenient access to I-65 via Moores Lane and Cool Springs Blvd. The immediate surrounding area includes major corporate offices, retail destinations, restaurants, hotels, and luxury automotive dealerships such as Porsche, BMW, Audi, and Lamborghini.
For buyers and operators, the current suite mix provides in-place income with room to finish out the vacant suite. C-3 zoning broadens potential tenant fit for uses that require both office presence and flexible loading capabilities. The offering is presented as a leased investment opportunity, with underwriting referenced in the remarks for an anticipated approximately 6.75% cap rate.
Key Highlights
- Two‑story office/flex property totaling 25,320 SF built in 2007
- Configured into five suites: four leased and one vacant suite
- 1.69‑acre site with three dock‑high doors, one drive‑in door, and 14’ clear heights
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
$422,123
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
4.72%
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%
$8,442,460
$8.4M
Cap Rate 7%
$6,030,329
$6.0M
Cap Rate 9%
$4,690,256
$4.7M
Market Conditions
NOI Build-Up for 25,230 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
$666.1K $26.40/SF
− Vacancy
−$103.2K −$4.09/SF
EGI
$562.8K $22.31/SF
− OpEx
−$140.7K −$5.58/SF
NOI
$422.1K $16.73/SF
Area
Williamson County, TN
Vacancy
15.50%
Lease Rate
$26.40 /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%
$8,442,460
Cap Rate 7%
$6,030,329
Cap Rate 9%
$4,690,256
Alternative Uses
Best Use
Office B
$6.03M
$5.28M – $7.04M
NOI $422,123 @ 7.0% cap · market cap 4.72%
Second Best
Flex RnD
$3.80M
$3.32M – $4.43M
NOI $265,672 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office A
$7.40M
$6.47M – $8.63M
NOI $517,720 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
3
Dock-high doors
1
Drive-in doors
5
Office units
80%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,227
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37027, TN
61,370
Population
23,745
Households
2.6
Avg Household Size
42
Median Age
74%
College-Educated
98%
High-School Grad
57.0 sq mi
ZIP Area
1,077
Density / Sq Mi
$156,002
Median Household Income
$71,225
Median Earnings
$2,141
Median Rent
$844,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Mobile Chef — 1661 Mallory Ln, Brentwood, TN 37027
Frequently Asked Questions
What type of property is this?
Flex space - Two-story office/flex asset with multiple dock-high doors, C-3 zoning, and suite configuration for mixed tenant use.
Where is this flex space located?
The property is located at 1005 Flagpole Ct Brentwood, TN.
What is the asking price?
The asking price for this property is $8,950,000.
What are key features of this property?
This property features: Two‑story office/flex property totaling 25,320 SF built in 2007; Configured into five suites: four leased and one vacant suite; 1.69‑acre site with three dock‑high doors, one drive‑in door, and 14’ clear heights
