Firestone-Anchored Shopping
For Sale
Contact for pricing
15119 Old Hickory Boulevard, Nashville, TN 37211
Three-tenant shopping center anchored by Firestone Complete Auto Care in a high-traffic retail hub.
Property Size12,691 SF
Price / SF$254.51
Days on Market57
Property Features for 15119 Old Hickory Boulevard
General Information
Standard status
Active
Size
12,691 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Net Operating Income
$210,000
Additional Details
Traffic Count
31,000 vehicles/day
Building Details
Year Built
1988
Tenancy
Multi
Listing Agency:
Colliers - Nashville, Tennessee
(615) 850-2764
Listed By:
Jim Morris · License #TN 270138
Source:
Crexi
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 8 at 8:00AM
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 Colliers - Nashville, Tennessee
Investment Insights
Based on property information with market context.
This Firestone-anchored shopping center offers a three-tenant configuration and includes Firestone Complete Auto Care as an original tenant dating back to development nearly forty years ago. The asset is positioned as a purpose-built retail and service destination with an automotive maintenance anchor already established on-site.
The center is located along Old Hickory Boulevard near its intersection with Nolensville Road in southern Davidson County, Nashville. The surrounding area is described as a primary retail hub, with major nearby retailers including Walmart, Kroger, Sprouts, and Lowe’s. The property benefits from the dense population of the area, with over 100,000 residents reported within three miles, and a daily traffic count cited at 31,000.
For tenants, the center’s tenant mix and established automotive anchor may support operators looking for retail proximity to a long-running service concept in a heavily trafficked corridor. For buyers, the property provides ownership of a small, three-tenant shopping center with an anchor that is part of a large national automotive maintenance chain with more than 2,300 locations, each independently owned by the company.
The center is located along Old Hickory Boulevard near its intersection with Nolensville Road in southern Davidson County, Nashville. The surrounding area is described as a primary retail hub, with major nearby retailers including Walmart, Kroger, Sprouts, and Lowe’s. The property benefits from the dense population of the area, with over 100,000 residents reported within three miles, and a daily traffic count cited at 31,000.
For tenants, the center’s tenant mix and established automotive anchor may support operators looking for retail proximity to a long-running service concept in a heavily trafficked corridor. For buyers, the property provides ownership of a small, three-tenant shopping center with an anchor that is part of a large national automotive maintenance chain with more than 2,300 locations, each independently owned by the company.
Key Highlights
- Three‑tenant shopping center anchored by Firestone Complete Auto Care
- Located along Old Hickory Blvd near the intersection with Nolensville Road in southern Davidson County
- Center year built: 1988
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
$117,052
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
3.62%
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%
$2,341,040
$2.3M
Cap Rate 7%
$1,672,171
$1.7M
Cap Rate 9%
$1,300,578
$1.3M
Market Conditions
NOI Build-Up for 12,691 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
$182.8K $14.40/SF
− Vacancy
−$15.5K −$1.22/SF
EGI
$167.2K $13.18/SF
− OpEx
−$50.2K −$3.95/SF
NOI
$117.1K $9.22/SF
Area
ZIP 37211
Vacancy
8.50%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$2,341,040
Cap Rate 7%
$1,672,171
Cap Rate 9%
$1,300,578
Alternative Uses
Best Use
Retail
$1.67M
$1.46M – $1.95M
NOI $117,052 @ 7.0% cap · market cap 3.62%
Second Best
Industrial
$1.17M
$1.02M – $1.36M
NOI $81,735 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$3.72M
$3.26M – $4.34M
NOI $260,419 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
31,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
11k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 95%
Hotels & Casinos 5%
BP
Shops & Services
9,355 visits/mo
0.3 miles
Extra Space Storage
Shops & Services
816 visits/mo
0.5 miles
InTown Suites Extended Stay Nashville TN
Hotels & Casinos
520 visits/mo
0.1 miles
Demographics for 37211, TN
81,830
Population
34,650
Households
2.4
Avg Household Size
33
Median Age
43%
College-Educated
86%
High-School Grad
21.7 sq mi
ZIP Area
3,771
Density / Sq Mi
$69,936
Median Household Income
$42,270
Median Earnings
$1,444
Median Rent
$374,200
Median Home Value
Market
Vacancy Rate% for Retail in Nashville, TN
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Similar Off Market Nearby
- Express Oil Change & Tire Engineers — 5817 Nolensville Pk, Nashville, TN 37211
- Firestone Complete Auto Care — 15127 Old Hickory Blvd, Nashville, TN 37211
- Reinalt-Thomas Corporation — 5832 Nolensville Pk, Nashville, TN 37211
- NTB-National Tire & Battery — 5809 Nolensville Pk, Nashville, TN 37211
- Walmart Auto Care Centers — 5824 Nolensville Pk, Nashville, TN 37211
Frequently Asked Questions
What type of property is this?
Auto shop - Three-tenant shopping center anchored by Firestone Complete Auto Care in a high-traffic retail hub.
Where is this auto shop located?
The property is located at 15119 Old Hickory Boulevard Nashville, TN.
What is the asking price?
The asking price for this property is $3,230,000.
What are key features of this property?
This property features: Three‑tenant shopping center anchored by Firestone Complete Auto Care; Located along Old Hickory Blvd near the intersection with Nolensville Road in southern Davidson County; Center year built: 1988
