2209 Old Hickory Blvd, Old Hickory, TN 37138

Building Details

Building Size 3,023 SF More

Year Built 1936 More

Buildings 1 More

Listing Agency: Studio Real Estate

Listed By: Sarah Beth Paul · License TN #339191 Show Phone

Source: Moveuphomegroup

Added: Jun 15 Changed: Nov 7 Last Checked: Nov 9 at 2:20PM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

This historic flex property pairs a finished showroom with a substantial warehouse area. The 3,023-square-foot building also has two private bathrooms, alley access for deliveries, and an off-street parking lot. Its former uses included gallery, studio, and community creative space operations.

Situated on Old Hickory Blvd in the Lakewood commercial district, the property is zoned MUL-A, which allows residential use. The interior arrangement can accommodate one operator or be divided between two businesses.

Key Highlights

• 3,023‑square‑foot building with finished showroom and warehouse
• MUL‑A zoning allows residential use
• Alley access for deliveries and an off‑street parking lot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,185

Cap Rate

4.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$723,700 $723.7K

Cap Rate 7%

$516,929 $516.9K

Cap Rate 9%

$402,056 $402.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,023 SF

Gross rent

$54.4K $18.00/SF

− Vacancy

−$2.7K −$0.90/SF

EGI

$51.7K $17.10/SF

− OpEx

−$15.5K −$5.13/SF

NOI

$36.2K $11.97/SF

Area

Davidson County, TN

Vacancy

5.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$723,700

Cap Rate 7%

$516,929

Cap Rate 9%

$402,056

Alternative Uses

Best Use

Retail

$516.9K

$452.3K – $603.1K (±1% cap)

NOI $36,185 @ 7.0% cap · market cap 4.03%

Second Best

Warehouse

$415.0K

$363.1K – $484.2K (±1% cap)

NOI $29,051 @ 7.0% cap · market cap 3.23%

Theoretical Best

Specialty Retail

$925.5K

$809.8K – $1.08M (±1% cap)

NOI $64,782 @ 7.0% cap · market cap 7.21%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick Law Firm Hair Salon HVAC Service Building Supply Restaurant Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

243

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 37138, TN

23,631

Population

9,905

Households

2.4

Avg Household Size

43

Median Age

40%

College-Educated

94%

High-School Grad

17.9 sq mi

ZIP Area

1,320

Density / Sq Mi

$87,450

Median Household Income

$54,738

Median Earnings

$1,427

Median Rent

$347,500

Median Home Value

Market

Average Price Trend$/SF for Flex space in Davidson County, TN

$325 Jul

$327 Aug

$301 Sep

$261 Oct

Properties on Market for Flex space in Davidson County

Jul

Aug

Sep

Oct

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - MUL-A zoning allows residential use alongside commercial occupancy.

Where is this flex space located?

The property is located at 2209 Old Hickory Blvd Old Hickory, TN.

What is the asking price?

The asking price for this property is $899,000.

What are key features of this property?

This property features: 3,023‑square‑foot building with finished showroom and warehouse; MUL‑A zoning allows residential use; Alley access for deliveries and an off‑street parking lot