Flex Space with Warehouse and
For Sale
$3,500,000
140 Kender Rhea Ct, Clarksville, TN 37043
Versatile commercial facility combining heated warehouse space, office accommodations, a wash bay, and secured outdoor storage.
Property Size14,500 SF
Price / SF$241.38
Days on Market147
Property Features for 140 Kender Rhea Ct
General Information
Standard status
Active
Size
14,500 SF
Property subtype
Industrial - Warehouse/Distribution
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
21 ft
Warehouse Space
9,200 SF
Office Build-Out
4,900 SF
Drive-In Doors
2
Amenities
Boardroom
Fully Equipped Kitchen
2 Restrooms
Building Details
Building Size
14,500 SF
Year Built
2021
Buildings
1
Listing Agency:
NAI Clarksville
(931) 648-4700
Listed By:
John Hadley · License #303747
Source:
Commercialcafe
Added: Apr 7
Changed: Aug 30
Last Checked: Aug 30 at 10:14PM
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 NAI Clarksville
Investment Insights
Based on property information with market context.
Built in 2021, this flex facility combines approximately 9,200 square feet of heated warehouse space with approximately 4,900 square feet of office space. The warehouse has a 21-foot eave height, four 14-foot automatic overhead doors, and two 15-foot drive-through overhead doors. A wash bay with a 14-foot overhead door supports service and industrial operations.
The office component includes eight offices, a boardroom, a fully equipped kitchen, and two restrooms. Outside, the property offers a fenced concrete-surface laydown area with remote gates, providing secured space for equipment, vehicles, or materials. The building is located at 140 Kender Rhea Ct in Clarksville, Tennessee.
The office component includes eight offices, a boardroom, a fully equipped kitchen, and two restrooms. Outside, the property offers a fenced concrete-surface laydown area with remote gates, providing secured space for equipment, vehicles, or materials. The building is located at 140 Kender Rhea Ct in Clarksville, Tennessee.
Key Highlights
- Approximately 14,500 SF building constructed in 2021
- Approximately 9,200 SF of heated warehouse space
- Approximately 4,900 SF of office space with 8 offices and a boardroom
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
$133,110
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
3.80%
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%
$2,662,200
$2.7M
Cap Rate 7%
$1,901,571
$1.9M
Cap Rate 9%
$1,479,000
$1.5M
Market Conditions
NOI Build-Up for 14,500 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
$261.0K $18.00/SF
− Vacancy
−$83.5K −$5.76/SF
EGI
$177.5K $12.24/SF
− OpEx
−$44.4K −$3.06/SF
NOI
$133.1K $9.18/SF
Area
Clarksville, TN
Vacancy
32.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,662,200
Cap Rate 7%
$1,901,571
Cap Rate 9%
$1,479,000
Alternative Uses
Best Use
Office B
$1.90M
$1.66M – $2.22M
NOI $133,110 @ 7.0% cap · market cap 3.80%
Second Best
Warehouse
$1.48M
$1.29M – $1.72M
NOI $103,382 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,381 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21 ft
Clear height
2
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 37043, TN
52,792
Population
22,221
Households
2.4
Avg Household Size
37
Median Age
43%
College-Educated
97%
High-School Grad
108.5 sq mi
ZIP Area
487
Density / Sq Mi
$91,871
Median Household Income
$46,602
Median Earnings
$1,208
Median Rent
$325,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial facility combining heated warehouse space, office accommodations, a wash bay, and secured outdoor storage.
Where is this flex space located?
The property is located at 140 Kender Rhea Ct Clarksville, TN.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Approximately 14,500 SF building constructed in 2021; Approximately 9,200 SF of heated warehouse space; Approximately 4,900 SF of office space with 8 offices and a boardroom
