Commercial Land with Livable
For Sale
$495,000
2013 Manchester Ave, Nashville, TN 37218
Commercial land with a livable home, potential for various uses.
Property Size1,678 SF
Price / SF$294.99
Days on Market105
Property Features for 2013 Manchester Ave
General Information
Standard status
Active
Size
1,678 SF
Property subtype
Commercial
Amenities
Asphalt Roof
Building Details
Year Built
1930
Listing Agency:
MARK SPAIN REAL ESTATE
(770) 866-9000
Listed By:
TRACY BAKER
Source:
Corcoran
Added: May 13
Changed: Aug 23
Last Checked: Aug 25 at 8:41AM
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 MARK SPAIN REAL ESTATE
Investment Insights
Based on property information with market context.
This property is zoned Commercial Limited, offering a wide variety of potential uses for investors, developers, or owner-users. The existing 1,678 square foot home is livable, offering immediate use, rental potential, or a live/work opportunity. It is located approximately 5 miles from Music Row. The home is being sold "as-is". Buyer and Buyer’s Agent are responsible for verifying all pertinent information.
Key Highlights
- Zoned Commercial Limited, offering a wide variety of potential uses.
- Ideally located just 5 miles from the heart of Music Row.
- Existing livable home provides immediate use or rental potential.
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
$21,011
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
4.24%
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%
$420,220
$420.2K
Cap Rate 7%
$300,157
$300.2K
Cap Rate 9%
$233,456
$233.5K
Market Conditions
NOI Build-Up for 1,678 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
$35.2K $21.00/SF
− Vacancy
−$7.2K −$4.31/SF
EGI
$28.0K $16.70/SF
− OpEx
−$7.0K −$4.17/SF
NOI
$21.0K $12.52/SF
Area
Nashville, TN
Vacancy
20.50%
Lease Rate
$21.00 /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%
$420,220
Cap Rate 7%
$300,157
Cap Rate 9%
$233,456
Alternative Uses
Best Use
Office B
$300.2K
$262.6K – $350.2K
NOI $21,011 @ 7.0% cap · market cap 4.24%
Second Best
Mixed Use
$291.3K
$254.9K – $339.8K
NOI $20,388 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$427.2K
$373.8K – $498.4K
NOI $29,902 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Explore this area
Business Placement
Demographics for 37218, TN
14,875
Population
6,497
Households
2.3
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
39.0 sq mi
ZIP Area
381
Density / Sq Mi
$59,073
Median Household Income
$38,726
Median Earnings
$1,368
Median Rent
$295,400
Median Home Value
Market
Vacancy Rate% for Office 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?
Mixed-use property - Commercial land with a livable home, potential for various uses.
Where is this mixed-use property located?
The property is located at 2013 Manchester Ave Nashville, TN.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Zoned Commercial Limited, offering a wide variety of potential uses.; Ideally located just 5 miles from the heart of Music Row.; Existing livable home provides immediate use or rental potential.
