Historic Office
106 Wright St, Smyrna, TN 37167
For Sale
New
$1,200,000
A 1.3-acre parcel surrounds a 3,324-square-foot property in Smyrna.
Property Size3,324 SF
Lot Size1.30 Acres
Price / SF$361.01
Days on Market4
Property Features for 106 Wright St
General Information
Standard status
Size
Lot size
Property subtype
Property Condition
Severity
Evidence
Additional Details
Condition
Asking Price
Property Use
Building Details
Year Built
Buildings
Building Size
Construction
Listing Agency:
TOWN & COUNTRY HOMES REAL ESTATE
(615) 662-9159
Listed By:
BRETT LEEHANS · License TN #266459
(615) 957-7770
Source:
Corcoran
Added: Nov 8
Changed: Nov 10
Last Checked: Nov 10 at 2:32PM
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 TOWN & COUNTRY HOMES REAL ESTATE
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Investment Insights
Based on property information with market context.
Set on 1.3 acres at 106 Wright St in Smyrna, this 3,324-square-foot office building dates to 1903. Its all-brick exterior and interior details include hardwood flooring and historic moldings. Much of the property remains in original condition and will require renovation.
The property is located in Smyrna, Tennessee, at 106 Wright St, ZIP code 37167.
The property is located in Smyrna, Tennessee, at 106 Wright St, ZIP code 37167.
Key Highlights
- 3,324‑square‑foot office building
- 1.3‑acre parcel
- Built in 1903 with an all‑brick exterior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,964
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$899,280
$899.3K
Cap Rate 7%
$642,343
$642.3K
Cap Rate 9%
$499,600
$499.6K
Market Conditions
NOI Build-Up for 3,324 SF
Gross rent
$71.8K $21.60/SF
− Vacancy
−$11.8K −$3.56/SF
EGI
$60.0K $18.04/SF
− OpEx
−$15.0K −$4.51/SF
NOI
$45.0K $13.53/SF
Area
Rutherford County, TN
Vacancy
16.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$899,280
Cap Rate 7%
$642,343
Cap Rate 9%
$499,600
Alternative Uses
Best Use
Office B
$642.3K
$562.1K – $749.4K
NOI $44,964 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.15M
$1.01M – $1.34M
NOI $80,414 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
662
Businesses Nearby
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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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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - A 1.3-acre parcel surrounds a 3,324-square-foot property in Smyrna.
Where is this office building located?
The property is located at 106 Wright St Smyrna, TN.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,324‑square‑foot office building; 1.3‑acre parcel; Built in 1903 with an all‑brick exterior
