Gas Station Property with
For Sale
Contact for pricing
11855 Nashville Hwy, Baxter, TN 38544
The property includes a grocery store, deli, and beer operation within an adaptable commercial building.
Property Size2,800 SF
Price / SF$142.14
Days on Market265
Property Features for 11855 Nashville Hwy
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Retail
Additional Details
Road Access
Yes
Building Details
Year Built
2004
Stories
1
Listing Agency:
The Real Estate Collective
(931) 881-6971
Listed By:
Hinal Tanwar · License #374225
Source:
Crexi
Added: Dec 9, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:55PM
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 The Real Estate Collective
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.
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 = 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
$18,382
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
4.62%
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%
$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
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
$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 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%
$367,640
Cap Rate 7%
$262,600
Cap Rate 9%
$204,244
Alternative Uses
Best Use
Specialty Retail
$662.2K
$579.4K – $772.5K
NOI $46,352 @ 7.0% cap · market cap 11.65%
Second Best
Retail
$625.8K
$547.6K – $730.1K
NOI $43,804 @ 7.0% cap · market cap 11.01%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,893 @ 7.0% cap · market cap 20.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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 $398,000.
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
