Gas Station Property with Grocery
For Sale
$329,000
11855 Nashville Hwy, Baxter, TN 38544
Commercial Sale, Baxter, TN
Property Size2,800 SF
Lot Size0.50 Acres
Price / SF$117.50
Days on Market97
Property Features for 11855 Nashville Hwy
General Information
Property type
Commercial Sale
Property subtype
Retail
Directions
From PCCH: Head south on S Washington Ave toward E Spring St, Turn right onto E Spring St, Merge onto US-70N W/W Broad St, Turn right, Destination will be on the right
Subdivision
Putnam Co NW, TN
Standard status
Active
APN
036 077.02
Size
2,800 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Annual Amount
1089
Building Details
Year built
2004
Floors in Building
1
Listing Agency:
The Real Estate Collective
(931) 559-9500
Listed By:
Hinal Tanwar · License #374225
(931) 881-6971
Added: Jun 4
Changed: Aug 20
Last Checked: Sep 8 at 8:06AM
MLS# 244889
Copyright © 2026 Upper Cumberland Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,800-square-foot commercial property occupies 0.496 acres and was built in 2004. The improvements include a grocery store, deli, and beer component, with a prior gas station operation. The existing configuration supports continued retail or food-service use, as well as the warehouse, storage, office, service-business, and gas station uses identified for the property.
The property is located at 11855 Nashville Hwy in Baxter, Tennessee, near Cordell Hull Lake. It is positioned 13 miles east of Cookeville and 40 miles east of Nashville, providing a location for businesses serving the surrounding area and travelers along Nashville Hwy.
The property is located at 11855 Nashville Hwy in Baxter, Tennessee, near Cordell Hull Lake. It is positioned 13 miles east of Cookeville and 40 miles east of Nashville, providing a location for businesses serving the surrounding area and travelers along Nashville Hwy.
Key Highlights
- 2,800 square feet of commercial building area
- 0.496‑acre property
- Built in 2004
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
5.59%
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 14.09%
Second Best
Retail
$625.8K
$547.6K – $730.1K
NOI $43,804 @ 7.0% cap · market cap 13.31%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,893 @ 7.0% cap · market cap 24.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Gas station - The building includes grocery, deli, and beer components for retail or food-service operations.
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 square feet of commercial building area; 0.496‑acre property; Built in 2004
