Hendersonville Office Facility For
For Sale
$1,299,999
20 Executive Park Dr, Hendersonville, TN 37075
One-level office facility in Hendersonville with ample parking.
Property Size4,000 SF
Price / SF$324
Days on Market485
Property Features for 20 Executive Park Dr
General Information
Standard status
Active
Size
4,000 SF
Building Details
Year Built
2008
Listing Agency:
BENCHMARK REALTY, LLC
Listed By:
TAMMY JEFFERS
(615) 573-0487
Source:
Corcoran
Added: May 29, 2025
Changed: Mar 16
Last Checked: Sep 24 at 10:27AM
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 BENCHMARK REALTY, LLC
Investment Insights
Based on property information with market context.
This one-level, 4,000-square-foot facility is located in Hendersonville. The property features multiple office spaces, a break room, and a reception area. It also includes an abundance of storage space and parking. A new roof was installed in 2024.
Key Highlights
- New Roof (2024)
- Prime Location in the Heart of Hendersonville**
- Abundance of Parking
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
$66,924
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
5.15%
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%
$1,338,480
$1.3M
Cap Rate 7%
$956,057
$956.1K
Cap Rate 9%
$743,600
$743.6K
Market Conditions
NOI Build-Up for 4,000 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
$105.6K $26.40/SF
− Vacancy
−$16.4K −$4.09/SF
EGI
$89.2K $22.31/SF
− OpEx
−$22.3K −$5.58/SF
NOI
$66.9K $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%
$1,338,480
Cap Rate 7%
$956,057
Cap Rate 9%
$743,600
Alternative Uses
Best Use
Office B
$956.1K
$836.6K – $1.12M
NOI $66,924 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.40M
$1.23M – $1.63M
NOI $98,009 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,452
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - One-level office facility in Hendersonville with ample parking.
Where is this office units located?
The property is located at 20 Executive Park Dr Hendersonville, TN.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: New Roof (2024); Prime Location in the Heart of Hendersonville**; Abundance of Parking
