Furnished Short-Term Rental
New
For Sale
$324,900
209 Campus Dr, Hendersonville, TN 37075
Furnished space with a kitchenette, full bath, bedroom, and great room.
Property Size775 SF
Price / SF$419.23
Days on Market4
Property Features for 209 Campus Dr
General Information
Standard status
Active
Size
775 SF
Additional Details
Furnished
Yes
Building Details
Year Built
2016
Listing Agency:
RE/MAX Choice Properties
Listed By:
Marlon Campbell 6153978754 · License #251916
(800) 254-1244
Source:
Searchtnhomesforsale
Added: Sep 4
Changed: Sep 7
Last Checked: Sep 7 at 10:04AM
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 RE/MAX Choice Properties
Investment Insights
Based on property information with market context.
Built in 2016, this furnished short-term rental property at 209 Campus Dr in Hendersonville includes a kitchenette, full bathroom, bedroom, and great room. The property is a legal Airbnb and has previously served as an insurance company office.
The layout supports residential or rental use, including long-term or short-term occupancy. An attic may be finished to add footage, subject to the City of Hendersonville. Parking is available on site, with handicap parking at the rear and required code work completed.
The layout supports residential or rental use, including long-term or short-term occupancy. An attic may be finished to add footage, subject to the City of Hendersonville. Parking is available on site, with handicap parking at the rear and required code work completed.
Key Highlights
- Legal Airbnb with furnished interior
- Kitchenette, full bath, bedroom, and great room
- Attic may be finished for additional footage per the City of Hendersonville
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
$12,967
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%
$259,340
$259.3K
Cap Rate 7%
$185,243
$185.2K
Cap Rate 9%
$144,078
$144.1K
Market Conditions
NOI Build-Up for 775 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
$20.5K $26.40/SF
− Vacancy
−$3.2K −$4.09/SF
EGI
$17.3K $22.31/SF
− OpEx
−$4.3K −$5.58/SF
NOI
$13.0K $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%
$259,340
Cap Rate 7%
$185,243
Cap Rate 9%
$144,078
Alternative Uses
Best Use
Office B
$185.2K
$162.1K – $216.1K
NOI $12,967 @ 7.0% cap · market cap 3.99%
Second Best
Mixed Use
$134.5K
$117.7K – $156.9K
NOI $9,416 @ 7.0% cap · market cap 2.90%
Theoretical Best
Specialty Retail
$271.3K
$237.4K – $316.5K
NOI $18,989 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,222
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Furnished space with a kitchenette, full bath, bedroom, and great room.
Where is this short term rental property located?
The property is located at 209 Campus Dr Hendersonville, TN.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Legal Airbnb with furnished interior; Kitchenette, full bath, bedroom, and great room; Attic may be finished for additional footage per the City of Hendersonville
