Single-Tenant Flex
138 Shivel Drive Hendersonville, TN 37075
138 Shivel Drive, Hendersonville, TN, 37075
$1,499,000
For Sale
$1,499,000
Brand-new flex building with finished office space, a fully conditioned warehouse, and two grade-level loading doors.
Property Size5,000 SF
Price / SF$299.80
Days on Market94
Property Features for 138 Shivel Drive
General Information
- Standard status
- Active
- Size
- 5,000 SF
- Property subtype
- Commercial Sale / Mixed Use
Listing agency
American Heritage Inc.
(615) 889-3000
Listed by
Mark Kiker · License #332041
(615) 889-3000
Source
Compass
Added: Apr 20 Updated: Jul 22 at 5:38AM Checked: Jul 22 at 5:38AM
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 American Heritage Inc.
Investment Insights
Based on property information with market context.
This brand-new single-tenant flex building offers a combination of finished office space and a fully conditioned warehouse. The layout includes 1,025 square feet of finished office area with modern finishes, with the remainder dedicated to warehouse space featuring 14-foot clear ceiling height.
Access is provided through two 12' x 12' grade-level doors, supporting equipment, storage, or other operational needs. The property is described as zoned to accommodate a range of uses, including office/warehouse operations and live-work potential.
The building is located at 138 Shivel Drive in Hendersonville, TN 37075, with access to major corridors as noted in the remarks.
Access is provided through two 12' x 12' grade-level doors, supporting equipment, storage, or other operational needs. The property is described as zoned to accommodate a range of uses, including office/warehouse operations and live-work potential.
The building is located at 138 Shivel Drive in Hendersonville, TN 37075, with access to major corridors as noted in the remarks.
Key Highlights
- 5,000 SF single‑tenant flex building in Hendersonville with finished office plus fully conditioned warehouse space
- 1,025 SF finished office space with modern finishes for administrative or client‑facing use
- Fully conditioned warehouse with 14‑foot clear ceiling height
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $132.0k | $26.40 |
| − Vacancy | −$20.5k | −$4.09 |
| EGI | $111.5k | $22.31 |
| − OpEx | −$27.9k | −$5.58 |
| NOI | $83.7k | $16.73 |
5,000 SF · lease $26.40/SF/yr · vacancy 15.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.39M
NOI $83,655 @ 7.0% cap · market cap 5.58%
Second Best
Warehouse
$573.6K
$501.9K – $669.2K
NOI $40,153 @ 7.0% cap · market cap 2.68%
Theoretical Best
Specialty Retail
$1.75M
$1.53M – $2.04M
NOI $122,511 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Brand-new flex building with finished office space, a fully conditioned warehouse, and two grade-level loading doors.
Where is this flex space located?
The property is located at 138 Shivel Drive Hendersonville, TN.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: 5,000 SF single‑tenant flex building in Hendersonville with finished office plus fully conditioned warehouse space; 1,025 SF finished office space with modern finishes for administrative or client‑facing use; Fully conditioned warehouse with 14‑foot clear ceiling height
