Freestanding Flex
For Sale
Contact for pricing
217 Willow Street, Nashville, TN 37210
Industrial-zoned property combining refreshed office areas with logistics-oriented access.
Property Size23,561 SF
Price / SF$199.48
Days on Market118
Property Features for 217 Willow Street
General Information
Standard status
Active
Size
23,561 SF
Class
B
Property subtype
Retail, Office, Industrial
Zoning
Industrial Restrictive
Listing Agency:
Equitable Property Company
(615) 669-5480
Listed By:
Pete Greenfield · License #TN 298401
Source:
Crexi
Added: May 7
Changed: Aug 30
Last Checked: Aug 31 at 9:55PM
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 Equitable Property Company
Investment Insights
Based on property information with market context.
This freestanding flex space contains 23,561 square feet within an Industrial Restrictive zoning designation. The property combines renovated office areas and bathrooms with industrial capacity, creating a configuration suited to businesses requiring both administrative and operational space. Grade-level access and dock access support loading and day-to-day movement of goods.
Located at 217 Willow Street in Nashville, the property is near Downtown Nashville, Fairfield Avenue, Crema Coffee Roasters, the Entrepreneur Center, and the Buntin Group. Its urban setting places office and industrial functions within reach of established nearby destinations.
Located at 217 Willow Street in Nashville, the property is near Downtown Nashville, Fairfield Avenue, Crema Coffee Roasters, the Entrepreneur Center, and the Buntin Group. Its urban setting places office and industrial functions within reach of established nearby destinations.
Key Highlights
- 23,561‑square‑foot freestanding flex space
- Industrial Restrictive zoning
- Renovated office areas and bathrooms
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
$295,013
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
6.28%
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%
$5,900,260
$5.9M
Cap Rate 7%
$4,214,471
$4.2M
Cap Rate 9%
$3,277,922
$3.3M
Market Conditions
NOI Build-Up for 23,561 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
$494.8K $21.00/SF
− Vacancy
−$101.4K −$4.31/SF
EGI
$393.4K $16.70/SF
− OpEx
−$98.3K −$4.17/SF
NOI
$295.0K $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%
$5,900,260
Cap Rate 7%
$4,214,471
Cap Rate 9%
$3,277,922
Alternative Uses
Best Use
Office B
$4.21M
$3.69M – $4.92M
NOI $295,013 @ 7.0% cap · market cap 6.28%
Second Best
Flex RnD
$3.24M
$2.84M – $3.78M
NOI $226,963 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$6.00M
$5.25M – $7.00M
NOI $419,857 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
575
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 Office in Nashville, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial-zoned property combining refreshed office areas with logistics-oriented access.
Where is this flex space located?
The property is located at 217 Willow Street Nashville, TN.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: 23,561‑square‑foot freestanding flex space; Industrial Restrictive zoning; Renovated office areas and bathrooms
