Renovated Automotive
New
For Sale
$699,000
210 W Gay St, Lebanon, TN 37087
Currently operating as a luxury rental car dealership, the property includes outdoor space for vehicle display and customer parking.
Property Size992 SF
Price / SF$704.64
Days on Market7
Property Features for 210 W Gay St
General Information
Standard status
Active
Size
992 SF
Building Details
Year Built
1958
Listing Agency:
United Real Estate Middle Tennessee
Listed By:
Dustyn Reed 9315813463 · License #374285
(931) 581-3463
Source:
Smokymountainshomefinder
Added: Oct 8
Changed: Oct 13
Last Checked: Oct 12 at 7:31PM
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 United Real Estate Middle Tennessee
Investment Insights
Based on property information with market context.
This renovated automotive property is currently operating as a luxury rental car dealership. The building dates to 1958, and the outdoor lot is arranged for vehicle display, inventory handling, and customer parking.
At 210 W Gay St in Lebanon, the property is near West Main Street and 231, and a few blocks from the historic Lebanon Square.
At 210 W Gay St in Lebanon, the property is near West Main Street and 231, and a few blocks from the historic Lebanon Square.
Key Highlights
- Currently operating as a luxury rental car dealership
- Built in 1958
- Outdoor lot space for vehicle display, inventory, and customer parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,686
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$453,720
$453.7K
Cap Rate 7%
$324,086
$324.1K
Cap Rate 9%
$252,067
$252.1K
Market Conditions
NOI Build-Up for 992 SF
Gross rent
$33.7K $33.96/SF
− Vacancy
−$1.3K −$1.29/SF
EGI
$32.4K $32.67/SF
− OpEx
−$9.7K −$9.80/SF
NOI
$22.7K $22.87/SF
Area
Wilson County, TN
Vacancy
3.80%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$453,720
Cap Rate 7%
$324,086
Cap Rate 9%
$252,067
Alternative Uses
Best Use
Industrial
$1.07M
$937.4K – $1.25M
NOI $74,989 @ 7.0% cap · market cap 10.73%
Second Best
Retail
$324.1K
$283.6K – $378.1K
NOI $22,686 @ 7.0% cap · market cap 3.25%
Theoretical Best
Warehouse
$1.30M
$1.14M – $1.52M
NOI $91,058 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,215
Businesses Nearby
40k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 62%
Dining 30%
Home Improvements & Furnishings 8%
Burger King
Dining
12,014 visits/mo
0.2 miles
Dollar General
Shops & Services
7,172 visits/mo
0.2 miles
AutoZone
Shops & Services
5,130 visits/mo
0.4 miles
Truist
Shops & Services
4,788 visits/mo
0.1 miles
Gulf Oil
Shops & Services
3,503 visits/mo
0.5 miles
Demographics for 37087, TN
51,658
Population
21,800
Households
2.4
Avg Household Size
39
Median Age
29%
College-Educated
92%
High-School Grad
164.9 sq mi
ZIP Area
313
Density / Sq Mi
$80,978
Median Household Income
$43,253
Median Earnings
$1,134
Median Rent
$359,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Similar Off Market Nearby
- U-Haul Neighborhood Dealer — 441 Gulf Ave, Lebanon, TN 37087
- Store Smart Self Storage — 227 S Maple St, Lebanon, TN 37087
- Big Lenny's Storage and Parking-Lebanon — 310 S College St, Lebanon, TN 37087
- U-Haul Neighborhood Dealer — 310 S College St, Lebanon, TN 37087
- U-Haul Neighborhood Dealer — 333 W High St, Lebanon, TN 37087
Frequently Asked Questions
What type of property is this?
Automotive property - Currently operating as a luxury rental car dealership, the property includes outdoor space for vehicle display and customer parking.
Where is this automotive property located?
The property is located at 210 W Gay St Lebanon, TN.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Currently operating as a luxury rental car dealership; Built in 1958; Outdoor lot space for vehicle display, inventory, and customer parking
