Multi-Office Building with Conference
New
For Sale
$525,000
175 W Smith St, Gallatin, TN 37066
Flexible commercial layout includes private offices, client meeting space, a kitchen, and a bathroom with shower.
Property Size2,340 SF
Price / SF$224.36
Days on Market6
Property Features for 175 W Smith St
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Commercial
Amenities
Asphalt Roof
Building Details
Year Built
1955
Buildings
1
Building Size
2,340 SF
Listing Agency:
SIMPLIHOM
(855) 856-9466
Listed By:
DANNY SULLIVAN
Source:
Corcoran
Added: Aug 17
Changed: Aug 21
Last Checked: Aug 21 at 8:05AM
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 SIMPLIHOM
Investment Insights
Based on property information with market context.
This 2,340-square-foot office building offers a practical configuration for professional operations, with a front reception area, several private offices, a large conference room, kitchen space, and a bathroom equipped with a shower. The arrangement supports a mix of individual work areas, meetings, and staff functions within a single commercial property.
Built in 1955, the property is located at 175 W Smith St in Gallatin, Tennessee, one block from the historic Gallatin Square. Downtown restaurants, retail shops, businesses, and professional services are nearby, providing convenient access to the surrounding commercial district.
Built in 1955, the property is located at 175 W Smith St in Gallatin, Tennessee, one block from the historic Gallatin Square. Downtown restaurants, retail shops, businesses, and professional services are nearby, providing convenient access to the surrounding commercial district.
Key Highlights
- 2,340‑square‑foot office building
- Multiple private offices and a spacious conference room
- Front waiting area for visitors and clients
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
$39,151
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
7.46%
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%
$783,020
$783.0K
Cap Rate 7%
$559,300
$559.3K
Cap Rate 9%
$435,011
$435.0K
Market Conditions
NOI Build-Up for 2,340 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
$61.8K $26.40/SF
− Vacancy
−$9.6K −$4.09/SF
EGI
$52.2K $22.31/SF
− OpEx
−$13.1K −$5.58/SF
NOI
$39.2K $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 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%
$783,020
Cap Rate 7%
$559,300
Cap Rate 9%
$435,011
Alternative Uses
Best Use
Office B
$559.3K
$489.4K – $652.5K
NOI $39,151 @ 7.0% cap · market cap 7.46%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$819.1K
$716.7K – $955.6K
NOI $57,335 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,296
Businesses Nearby
Explore this area
Business Placement
Demographics for 37066, TN
59,370
Population
25,939
Households
2.3
Avg Household Size
40
Median Age
34%
College-Educated
91%
High-School Grad
116.3 sq mi
ZIP Area
510
Density / Sq Mi
$78,049
Median Household Income
$43,311
Median Earnings
$1,305
Median Rent
$376,100
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?
Office building - Flexible commercial layout includes private offices, client meeting space, a kitchen, and a bathroom with shower.
Where is this office building located?
The property is located at 175 W Smith St Gallatin, TN.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,340‑square‑foot office building; Multiple private offices and a spacious conference room; Front waiting area for visitors and clients
