Retail Strip
For Sale
Contact for pricing
1170 Rock Springs Road, Smyrna, TN 37167
For sale retail strip center offering storefront-style space totaling approximately 9,000 square feet.
Property Size9,000 SF
Price / SF$544.44
Days on Market85
Property Features for 1170 Rock Springs Road
General Information
Standard status
Active
Size
9,000 SF
Class
A
Property subtype
Retail
Zoning
C2
Lease Type
NNN
Net Operating Income
$390,000
Building Details
Year Built
2026
Units
6
Listing Agency:
Zach Taylor Real Estate
Listed By:
Meshel Abdelsayed · License #353670
Source:
Crexi
Added: Jun 15
Changed: Aug 31
Last Checked: Sep 7 at 1:03PM
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 Zach Taylor Real Estate
Investment Insights
Based on property information with market context.
This retail strip center presents storefront-style commercial space within a single property, totaling approximately 9,000 square feet. The offering is listed for sale.
The property is located at 1170 Rock Springs Road in Smyrna, Tennessee. It is well suited for retailers or service tenants seeking a traditional strip-mall configuration with street-facing presence.
With a defined footprint and retail-oriented design, the space can be evaluated for occupancy, leasing, or acquisition based on the needs of a specific tenant or buyer. Additional details such as unit mix, condition, or available configurations are not provided in the information received.
The property is located at 1170 Rock Springs Road in Smyrna, Tennessee. It is well suited for retailers or service tenants seeking a traditional strip-mall configuration with street-facing presence.
With a defined footprint and retail-oriented design, the space can be evaluated for occupancy, leasing, or acquisition based on the needs of a specific tenant or buyer. Additional details such as unit mix, condition, or available configurations are not provided in the information received.
Key Highlights
- Retail strip center built in 2026
- Storefront‑style retail space totaling approximately 9,000 sq ft
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
$205,390
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
4.19%
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%
$4,107,800
$4.1M
Cap Rate 7%
$2,934,143
$2.9M
Cap Rate 9%
$2,282,111
$2.3M
Market Conditions
NOI Build-Up for 9,000 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
$305.6K $33.96/SF
− Vacancy
−$12.2K −$1.36/SF
EGI
$293.4K $32.60/SF
− OpEx
−$88.0K −$9.78/SF
NOI
$205.4K $22.82/SF
Area
Rutherford County, TN
Vacancy
4.00%
Lease Rate
$33.96 /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%
$4,107,800
Cap Rate 7%
$2,934,143
Cap Rate 9%
$2,282,111
Alternative Uses
Best Use
Retail
$2.93M
$2.57M – $3.42M
NOI $205,390 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.11M
$2.72M – $3.63M
NOI $217,728 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
987
Businesses Nearby
563k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 38%
Shops & Services 29%
Apparel 18%
Groceries 7%
Chick-fil-A
Dining
52,187 visits/mo
0.3 miles
Academy Sports + Outdoors
Apparel
51,097 visits/mo
0.4 miles
T.J. Maxx
Apparel
50,616 visits/mo
0.4 miles
Publix
Groceries
39,274 visits/mo
0.3 miles
Raising Cane's Chicken Fingers
Dining
39,248 visits/mo
0.5 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - For sale retail strip center offering storefront-style space totaling approximately 9,000 square feet.
Where is this strip mall located?
The property is located at 1170 Rock Springs Road Smyrna, TN.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: Retail strip center built in 2026; Storefront‑style retail space totaling approximately 9,000 sq ft
