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1660 Drakes Creek Rd, Hendersonville, TN 37075
Commercial Office zoning and a dedicated parking area support an office use.
Property Size10,672 SF
Lot Size1.64 Acres
Price / SF$440.40
Days on Market4
Property Features for 1660 Drakes Creek Rd
General Information
Standard status
Active
Size
10,672 SF
Total Parking Spaces
44
Lot size
1.64 Acres
Property subtype
OFFICE
Zoning
Commercial Office
Building Details
Year Built
2022
Listing Agency:
Southeast Venture / CORFAC International
(615) 833-8716
Listed By:
Jon Petty
(615) 584-0787
Source:
Moodyscre
Added: Oct 16
Changed: Oct 19
Last Checked: Oct 19 at 1:59PM
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 Southeast Venture / CORFAC International
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Investment Insights
Based on property information with market context.
Completed in 2022, this 10,672-square-foot office building sits on 1.64 acres and is zoned Commercial Office. The property has had one owner since construction and includes 44 parking spaces.
Located at 1660 Drakes Creek Road in Hendersonville, Tennessee, the property offers an office setting with on-site parking.
Located at 1660 Drakes Creek Road in Hendersonville, Tennessee, the property offers an office setting with on-site parking.
Key Highlights
- 10,672 square feet on 1.64 acres
- Zoned Commercial Office
- Built in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$178,553
Cap Rate
3.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,571,060
$3.6M
Cap Rate 7%
$2,550,757
$2.6M
Cap Rate 9%
$1,983,922
$2.0M
Market Conditions
NOI Build-Up for 10,672 SF
Gross rent
$281.7K $26.40/SF
− Vacancy
−$43.7K −$4.09/SF
EGI
$238.1K $22.31/SF
− OpEx
−$59.5K −$5.58/SF
NOI
$178.6K $16.73/SF
Area
Sumner 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%
$3,571,060
Cap Rate 7%
$2,550,757
Cap Rate 9%
$1,983,922
Alternative Uses
Best Use
Office B
$2.55M
$2.23M – $2.98M
NOI $178,553 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.74M
$3.27M – $4.36M
NOI $261,487 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
54
Businesses Nearby
Explore this area
Business Placement
Demographics for 37075, TN
71,023
Population
29,600
Households
2.4
Avg Household Size
39
Median Age
42%
College-Educated
95%
High-School Grad
59.0 sq mi
ZIP Area
1,204
Density / Sq Mi
$97,597
Median Household Income
$50,323
Median Earnings
$1,552
Median Rent
$403,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Commercial Office zoning and a dedicated parking area support an office use.
Where is this office building located?
The property is located at 1660 Drakes Creek Rd Hendersonville, TN.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: 10,672 square feet on 1.64 acres; Zoned Commercial Office; Built in 2022
