Nashville Warehouse with Office
For Sale
Contact for pricing
1922 Elm Tree Dr, Nashville, TN 37210
13,250 SF warehouse with 3,000 SF office near airport.
Property Size13,250 SF
Lot Size0.99 Acres
Price / SF$241.13
Days on Market389
Property Features for 1922 Elm Tree Dr
General Information
Standard status
Active
Size
13,250 SF
Class
C
Total Parking Spaces
26
Lot size
0.99 Acres
Property subtype
Industrial
Zoning
ndustrial Restrictive/Ov-Air: Airport Overlay
Occupancy
100%
Investment Type
Sale/Leaseback
Building Details
Year Built
1977
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
EXIT Realty Elite
(615) 373-3948
Listed By:
KEL WILLIAMS - NASHVILLE REALTOR · License #325074
Source:
Crexi
Added: Jul 19, 2025
Changed: Aug 8
Last Checked: Aug 11 at 7:13AM
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 EXIT Realty Elite
Investment Insights
Based on property information with market context.
This 13,250 sq ft warehouse includes 3,000 sq ft of office space. Situated on just under an acre, the property is suitable for logistics, distribution, light manufacturing, or a service-based operation. It features two loading docks for freight access and efficient operations. The location is in a high-demand industrial corridor less than 3 miles from Nashville International Airport, providing access to I-40 and Briley Parkway. The building's flexible layout can accommodate a range of business needs, from warehouse storage to administrative headquarters.
Key Highlights
- Prime location less than 3 miles from Nashville International Airport.
- Easy access to I‑40 and Briley Parkway.
- 13,250 sq ft warehouse with 3,000 sq ft of office space.**
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
$127,637
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
3.99%
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%
$2,552,740
$2.6M
Cap Rate 7%
$1,823,386
$1.8M
Cap Rate 9%
$1,418,189
$1.4M
Market Conditions
NOI Build-Up for 13,250 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
$206.7K $15.60/SF
− Vacancy
−$10.3K −$0.78/SF
EGI
$196.4K $14.82/SF
− OpEx
−$68.7K −$5.19/SF
NOI
$127.6K $9.63/SF
Area
Nashville, TN
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
35.00%
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%
$2,552,740
Cap Rate 7%
$1,823,386
Cap Rate 9%
$1,418,189
Alternative Uses
Best Use
Flex RnD
$1.82M
$1.60M – $2.13M
NOI $127,637 @ 7.0% cap · market cap 3.99%
Second Best
Warehouse
$1.48M
$1.30M – $1.73M
NOI $103,622 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$3.37M
$2.95M – $3.94M
NOI $236,115 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 37210, TN
17,134
Population
9,201
Households
1.9
Avg Household Size
32
Median Age
32%
College-Educated
85%
High-School Grad
9.3 sq mi
ZIP Area
1,842
Density / Sq Mi
$43,343
Median Household Income
$36,815
Median Earnings
$1,250
Median Rent
$334,800
Median Home Value
Market
Vacancy Rate% for Industrial in Nashville, TN
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - 13,250 SF warehouse with 3,000 SF office near airport.
Where is this flex space located?
The property is located at 1922 Elm Tree Dr Nashville, TN.
What is the asking price?
The asking price for this property is $3,195,000.
What are key features of this property?
This property features: Prime location less than 3 miles from Nashville International Airport.; Easy access to I‑40 and Briley Parkway.; 13,250 sq ft warehouse with 3,000 sq ft of office space.**
