Historic Chapel with Office
New
For Sale
$1,400,000
1700 Hadley Ave, Old Hickory, TN 37138
Religious facility with vaulted wood ceilings, stained glass windows, offices, parking, and a loading ramp.
Property Size6,620 SF
Price / SF$211.48
Days on Market5
Property Features for 1700 Hadley Ave
General Information
Standard status
Active
Size
6,620 SF
Property subtype
Commercial
Building Details
Year Built
1940
Listing Agency:
COMPASS
(615) 383-6964
Listed By:
LEAH SELVIG
Source:
Corcoran
Added: Aug 12
Changed: Aug 14
Last Checked: Aug 16 at 5:54AM
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 COMPASS
Investment Insights
Based on property information with market context.
Built in 1940, this 6,620-square-foot religious facility occupies a .92-acre corner parcel. The structure includes vaulted wood ceilings and beams, vintage stained glass windows, office areas, 39 parking spaces, and a loading ramp. The offices may be converted to suit future needs.
The property fronts Robinson Road/Old Hickory Boulevard at Hadley Avenue and sits across from Old Hickory Country Club and Golf Course. Robinson Road carries approximately 25,000 cars daily, based on TDOT Annual Average Daily Traffic analysis. The site is located in Old Hickory, Tennessee.
The property fronts Robinson Road/Old Hickory Boulevard at Hadley Avenue and sits across from Old Hickory Country Club and Golf Course. Robinson Road carries approximately 25,000 cars daily, based on TDOT Annual Average Daily Traffic analysis. The site is located in Old Hickory, Tennessee.
Key Highlights
- 6,620‑square‑foot structure on a .92‑acre corner parcel
- Original vaulted wood ceilings and beams dating to the 1940s
- Vintage stained glass windows within the historic chapel
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
$116,678
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
8.33%
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%
$2,333,560
$2.3M
Cap Rate 7%
$1,666,829
$1.7M
Cap Rate 9%
$1,296,422
$1.3M
Market Conditions
NOI Build-Up for 6,620 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
$198.6K $30.00/SF
− Vacancy
−$11.9K −$1.80/SF
EGI
$186.7K $28.20/SF
− OpEx
−$70.0K −$10.58/SF
NOI
$116.7K $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%
$2,333,560
Cap Rate 7%
$1,666,829
Cap Rate 9%
$1,296,422
Alternative Uses
Best Use
Mixed Use
$1.67M
$1.46M – $1.94M
NOI $116,678 @ 7.0% cap · market cap 8.33%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$8.01M
$7.01M – $9.35M
NOI $561,019 @ 7.0% cap · market cap 40.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
242
Businesses Nearby
Explore this area
Business Placement
Demographics for 37138, TN
23,631
Population
9,905
Households
2.4
Avg Household Size
43
Median Age
40%
College-Educated
94%
High-School Grad
17.9 sq mi
ZIP Area
1,320
Density / Sq Mi
$87,450
Median Household Income
$54,738
Median Earnings
$1,427
Median Rent
$347,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Church & religious facility - Religious facility with vaulted wood ceilings, stained glass windows, offices, parking, and a loading ramp.
Where is this church & religious facility located?
The property is located at 1700 Hadley Ave Old Hickory, TN.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 6,620‑square‑foot structure on a .92‑acre corner parcel; Original vaulted wood ceilings and beams dating to the 1940s; Vintage stained glass windows within the historic chapel
