Freestanding Office
121 Harris St, Madison, TN 37115
For Sale
$779,000
A flexible office layout accommodates professional, medical, and service-oriented business uses.
Property Size2,787 SF
Lot Size0.22 Acres
Price / SF$279.51
Days on Market85
Property Features for 121 Harris St
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Additional Details
Asking Price
Property Use
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Broker Headquarters Group
Listed By:
Joy McNaughten · License #215392
(615) 456-2288
Source:
Chordrealestate
Added: Aug 17
Changed: Nov 7
Last Checked: Nov 8 at 3:33PM
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 Broker Headquarters Group
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Investment Insights
Based on property information with market context.
This freestanding office property contains approximately 2,787 square feet of office space on an approximately 0.22-acre site. Its existing layout can support professional, medical, or service-oriented businesses, with flexibility for a range of office configurations. The building was constructed in 1997.
The property is located at 121 Harris St in Madison, Tennessee. Twelve dedicated parking spaces serve the site.
The property is located at 121 Harris St in Madison, Tennessee. Twelve dedicated parking spaces serve the site.
Key Highlights
- Approximately 2,787 square feet of office space
- Approximately 0.22‑acre site
- 12 dedicated parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,629
Cap Rate
5.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$932,580
$932.6K
Cap Rate 7%
$666,129
$666.1K
Cap Rate 9%
$518,100
$518.1K
Market Conditions
NOI Build-Up for 2,787 SF
Gross rent
$73.6K $26.40/SF
− Vacancy
−$11.4K −$4.09/SF
EGI
$62.2K $22.31/SF
− OpEx
−$15.5K −$5.58/SF
NOI
$46.6K $16.73/SF
Area
Davidson County, TN
Vacancy
15.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$932,580
Cap Rate 7%
$666,129
Cap Rate 9%
$518,100
Alternative Uses
Best Use
Office B
$666.1K
$582.9K – $777.2K
NOI $46,629 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.37M
$2.95M – $3.94M
NOI $236,187 @ 7.0% cap · market cap 30.32%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
863
Businesses Nearby
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Business Placement
Demographics for 37115, TN
39,821
Population
19,845
Households
2
Avg Household Size
37
Median Age
23%
College-Educated
82%
High-School Grad
21.5 sq mi
ZIP Area
1,852
Density / Sq Mi
$53,034
Median Household Income
$37,215
Median Earnings
$1,263
Median Rent
$271,100
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Davidson County, TN
Properties on Market for Office buildings in Davidson County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - A flexible office layout accommodates professional, medical, and service-oriented business uses.
Where is this office building located?
The property is located at 121 Harris St Madison, TN.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Approximately 2,787 square feet of office space; Approximately 0.22‑acre site; 12 dedicated parking spaces
