Building Details

Year Built 2004

Stories 1

Listing Agency: Keller Williams Realty Mt. Juliet

Listed By: Hinal Tanwar · License #374225 Show Phone

Source: Crexi

Added: Dec 9, 2025 Changed: Oct 1 Last Checked: Oct 14 at 11:12PM

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Investment Insights

Based on property information with market context.

Located at 11855 Nashville Hwy in Baxter, Tennessee, this 2,800-square-foot commercial property was built in 2004. The existing configuration includes a grocery store, deli, and beer component, providing an established retail-oriented layout for continued commercial use.

The property previously operated as a gas station and is positioned near Cordell Hull Lake. It is approximately 13 miles east of Cookeville and 40 miles east of Nashville. The stated potential use categories include restaurant or food service, warehouse or storage, retail or convenience sales, gas station operations, office space, and other service businesses.

Key Highlights

• 2,800 sqft commercial property in Baxter, TN
• Includes a grocery store, deli, and beer component
• Previously operated as a gas station

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,382

Cap Rate

5.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$367,640 $367.6K

Cap Rate 7%

$262,600 $262.6K

Cap Rate 9%

$204,244 $204.2K

Market Conditions

NOI Build-Up for 2,800 SF

Gross rent

$27.5K $9.81/SF

− Vacancy

−$1.2K −$0.43/SF

EGI

$26.3K $9.38/SF

− OpEx

−$7.9K −$2.81/SF

NOI

$18.4K $6.56/SF

Area

Putnam County, TN

Vacancy

4.40%

Lease Rate

$9.81 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$367,640

Cap Rate 7%

$262,600

Cap Rate 9%

$204,244

Alternative Uses

Best Use

Specialty Retail

$662.2K

$579.4K – $772.5K (±1% cap)

NOI $46,352 @ 7.0% cap · market cap 14.09%

Second Best

Retail

$625.8K

$547.6K – $730.1K (±1% cap)

NOI $43,804 @ 7.0% cap · market cap 13.31%

Theoretical Best

Office A

$1.16M

$1.01M – $1.35M (±1% cap)

NOI $80,893 @ 7.0% cap · market cap 24.59%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Gas stations

Suggested Use

Top Pick Daycare Center Restaurant Bed & Breakfast

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

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

9

Businesses Nearby

Explore this area Business Placement

Demographics for 38544, TN

7,435

Population

3,327

Households

2.2

Avg Household Size

40

Median Age

16%

College-Educated

85%

High-School Grad

79.2 sq mi

ZIP Area

94

Density / Sq Mi

$66,801

Median Household Income

$42,188

Median Earnings

$904

Median Rent

$222,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 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 gas stations located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Gas station - The property includes a grocery store, deli, and beer operation within an adaptable commercial building.

Where is this gas station located?

The property is located at 11855 Nashville Hwy Baxter, TN.

What is the asking price?

The asking price for this property is $329,000.

What are key features of this property?

This property features: 2,800 sqft commercial property in Baxter, TN; Includes a grocery store, deli, and beer component; Previously operated as a gas station