Renovated Flex Space
New
For Sale
$1,490,000
117 Lyle Ln, Nashville, TN 37210
Adaptable commercial facility with private offices, open work areas, storage, and employee amenities.
Property Size4,500 SF
Price / SF$354.76
Days on Market5
Property Features for 117 Lyle Ln
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Warehouse
Amenities
on-site fitness center
Building Details
Year Built
1986
Buildings
1
Building Size
4,500 SF
Listing Agency:
(615) 383-6600
Listed By:
Compass
(615) 525-1636
Source:
Xome
Added: Aug 30
Changed: Sep 2
Last Checked: Sep 2 at 1:00PM
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
Investment Insights
Based on property information with market context.
This flex space property combines renovated private offices with open work areas, modern restrooms, and dedicated storage. The building also includes an on-site fitness center and parking for staff, vendors, and customers. Its configuration supports office, distribution, sourcing, and small-scale manufacturing functions.
Constructed in 1986 and located in Nashville, the property is currently leased under a long-term agreement. The adaptable layout and mix of enclosed and open areas provide a practical setup for varied commercial operations.
Constructed in 1986 and located in Nashville, the property is currently leased under a long-term agreement. The adaptable layout and mix of enclosed and open areas provide a practical setup for varied commercial operations.
Key Highlights
- Renovated flex space property with private offices and open work areas
- Modern restrooms and dedicated storage areas
- On‑site fitness center for employees
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
$52,589
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
3.53%
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%
$1,051,780
$1.1M
Cap Rate 7%
$751,271
$751.3K
Cap Rate 9%
$584,322
$584.3K
Market Conditions
NOI Build-Up for 4,200 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
$88.2K $21.00/SF
− Vacancy
−$18.1K −$4.31/SF
EGI
$70.1K $16.70/SF
− OpEx
−$17.5K −$4.17/SF
NOI
$52.6K $12.52/SF
Area
Nashville, TN
Vacancy
20.50%
Lease Rate
$21.00 /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%
$1,051,780
Cap Rate 7%
$751,271
Cap Rate 9%
$584,322
Alternative Uses
Best Use
Office B
$751.3K
$657.4K – $876.5K
NOI $52,589 @ 7.0% cap · market cap 3.53%
Second Best
Flex RnD
$578.0K
$505.7K – $674.3K
NOI $40,459 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$1.07M
$935.6K – $1.25M
NOI $74,844 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37210, TN
17,134
Population
9,201
Households
1.9
Avg Household Size
32
Median Age
32%
College-Educated
85%
High-School Grad
9.3 sq mi
ZIP Area
1,842
Density / Sq Mi
$43,343
Median Household Income
$36,815
Median Earnings
$1,250
Median Rent
$334,800
Median Home Value
Market
Vacancy Rate% for Office in Nashville, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable commercial facility with private offices, open work areas, storage, and employee amenities.
Where is this flex space located?
The property is located at 117 Lyle Ln Nashville, TN.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: Renovated flex space property with private offices and open work areas; Modern restrooms and dedicated storage areas; On‑site fitness center for employees
