Goodlettsville Land with Development
For Sale
$675,000
Pending
1332 S Dickerson Rd, Goodlettsville, TN 37072
1.22-acre property with flexible zoning and development potential.
Property Size3,021 SF
Lot Size1.28 Acres
Days on Market407
Property Features for 1332 S Dickerson Rd
General Information
Standard status
Pending
Size
3,021 SF
Lot size
1.28 Acres
Property subtype
Commercial
Amenities
Shingle Roof
Building Details
Year Built
1955
Listing Agency:
KELLER WILLIAMS REALTY
(615) 425-3600
Listed By:
ALEC BAHMED · License #358430
Source:
Corcoran
Added: Jul 1, 2025
Changed: Aug 8
Last Checked: Aug 8 at 12:04PM
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 KELLER WILLIAMS REALTY
Investment Insights
Based on property information with market context.
Located along the Dickerson Pike corridor in Goodlettsville, within Metro Nashville, the property at 1332 S Dickerson Road spans 1.22 acres. The site is zoned CS (Commercial Services) and guided by the T3-CM Suburban Mixed Use Corridor policy, offering flexible development potential for commercial, residential, or mixed-use projects. The existing structure totals approximately 2,933 square feet and includes a residential layout with a separate office unit and enclosed storage. It may support interim use or conversion to live-work, service business, or small office. Under current CS zoning, a commercial building of up to 30,000 square feet is allowed, with a maximum height of 45 feet and 60% lot coverage. This makes the property suitable for retail, medical, office, or contractor-oriented use. With rezoning to MUL-A, the site could support a mixed-use development with 24–36 residential units and 10,000–15,000 square feet of commercial space, featuring pedestrian-focused design and improved public realm. A custom SP rezoning could allow a five-story, 100,000 square foot development with 50–75 residential units, structured parking, and activated street frontage, maximizing density and aligning with transit-oriented goals. Average Daily Traffic Count is 20,000+. Located near I-65 and key public schools, with utilities and fiber internet access available. Sellers have an arrangement with neighbors who operate a lawn care business for lawn care and landscaping services at the property and are willing to discuss continuing this service for new property owners.
Key Highlights
- 1.22‑acre property offers flexible development potential with CS zoning and T3‑CM Suburban Mixed Use Corridor policy.
- High‑visibility location along Dickerson Pike with a high Average Daily Traffic Count (20,000+).
- Potential for commercial development up to 30,000 sq ft under current CS zoning, or mixed‑use development with rezoning.
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
$53,245
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
7.89%
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%
$1,064,900
$1.1M
Cap Rate 7%
$760,643
$760.6K
Cap Rate 9%
$591,611
$591.6K
Market Conditions
NOI Build-Up for 3,021 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
$90.6K $30.00/SF
− Vacancy
−$5.4K −$1.80/SF
EGI
$85.2K $28.20/SF
− OpEx
−$31.9K −$10.58/SF
NOI
$53.2K $17.63/SF
Area
Davidson County, TN
Vacancy
6.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,064,900
Cap Rate 7%
$760,643
Cap Rate 9%
$591,611
Alternative Uses
Best Use
Mixed Use
$760.6K
$665.6K – $887.4K
NOI $53,245 @ 7.0% cap · market cap 7.89%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.66M
$3.20M – $4.27M
NOI $256,018 @ 7.0% cap · market cap 37.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
Business Placement
Demographics for 37072, TN
33,065
Population
14,377
Households
2.3
Avg Household Size
40
Median Age
28%
College-Educated
89%
High-School Grad
77.5 sq mi
ZIP Area
427
Density / Sq Mi
$75,514
Median Household Income
$44,313
Median Earnings
$1,359
Median Rent
$340,900
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 1.22-acre property with flexible zoning and development potential.
Where is this commercial land located?
The property is located at 1332 S Dickerson Rd Goodlettsville, TN.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 1.22‑acre property offers flexible development potential with CS zoning and T3‑CM Suburban Mixed Use Corridor policy.; High‑visibility location along Dickerson Pike with a high Average Daily Traffic Count (20,000+).; Potential for commercial development up to 30,000 sq ft under current CS zoning, or mixed‑use development with rezoning.
