Columbia Inn Redevelopment
For Sale
$7,000,000
Pending
1208 Nashville Hwy, Columbia, TN 38401
10-acre redevelopment site currently operating as the Columbia Inn.
Property Size63,000 SF
Lot Size10.00 Acres
Days on Market569
Property Features for 1208 Nashville Hwy
General Information
Standard status
Pending
Size
63,000 SF
Lot size
10.00 Acres
Building Details
Year Built
1960
Listing Agency:
Maury County Realty
Listed By:
John R. Hill 9312241205
(931) 388-3112
Source:
Tnhomesfinder
Added: Feb 19, 2025
Changed: Sep 10
Last Checked: Sep 11 at 10:55AM
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 Maury County Realty
Investment Insights
Based on property information with market context.
This property is a 10-acre redevelopment site currently operating as the Columbia Inn. The property has a size of 63000 square feet.
Key Highlights
- 10 acre redevelopment site
- Currently operating as the Columbia Inn
- Year Built: 1960
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
$403,988
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
5.77%
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%
$8,079,760
$8.1M
Cap Rate 7%
$5,771,257
$5.8M
Cap Rate 9%
$4,488,756
$4.5M
Market Conditions
NOI Build-Up for 63,000 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
$945.0K $15.00/SF
− Vacancy
−$94.5K −$1.50/SF
EGI
$850.5K $13.50/SF
− OpEx
−$446.5K −$7.09/SF
NOI
$404.0K $6.41/SF
Area
Maury County, TN
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
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%
$8,079,760
Cap Rate 7%
$5,771,257
Cap Rate 9%
$4,488,756
Alternative Uses
Best Use
Hotel Hospitality
$5.77M
$5.05M – $6.73M
NOI $403,988 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$18.47M
$16.16M – $21.55M
NOI $1,292,760 @ 7.0% cap · market cap 18.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
304
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 38401, TN
63,075
Population
28,470
Households
2.2
Avg Household Size
40
Median Age
24%
College-Educated
92%
High-School Grad
296.7 sq mi
ZIP Area
213
Density / Sq Mi
$69,467
Median Household Income
$42,314
Median Earnings
$1,084
Median Rent
$295,200
Median Home Value
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Similar Off Market Nearby
- Columbia Event Center — 1116 Nashville Hwy, Columbia, TN 38401
- Extend A Suites — 1208 Nashville Hwy, Columbia, TN 38401
- Columbia Inn Extended Stay — 1208 nashville hwy, columbia, tn 38401
- Days Inn by Wyndham Columbia — Exit 46, 1504 Nashville Hwy I-65, Columbia, TN 38401
- Hotel O Columbia Downtown near I-65 — 1504 nashville hwy, columbia, tn 38401
Frequently Asked Questions
What type of property is this?
Motel - 10-acre redevelopment site currently operating as the Columbia Inn.
Where is this motel located?
The property is located at 1208 Nashville Hwy Columbia, TN.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: 10 acre redevelopment site; Currently operating as the Columbia Inn; Year Built: 1960
