Building Details

Year Built 2000

Listing Agency: BROKER HEADQUARTERS GROUP

Listed By: JOY LAMBERSON MCNAUGHTEN · License #215392 Show Phone

Source: Corcoran

Added: May 23, 2025 Changed: Mar 16 Last Checked: Mar 16 at 9:09AM

Report an Issue

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 BROKER HEADQUARTERS GROUP

Ask AI about this property

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

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This fully leased retail/office property is located on the main road in Greenbrier, Tennessee. The property is situated within the same block as the new Greenbrier City Hall, Greenbrier Middle School, Greenbrier High School, and the Police and Fire Department. The property, with a size of 36850 square feet, hosts a diverse mix of tenants, including an ATM, an investment advisor, four restaurants, two clothing stores, a dry cleaner/alterations shop, a barber shop, a nail salon, a gym, an appliance repair service, and a church. The property also features two billboards. Upcoming projects in the area include a Waffle House, Twice Daly with Nashville Hot Chicken, and a grant to build a park.

Key Highlights

• Fully leased retail/office property offering immediate income.
• High‑traffic location on main road near City Hall, Middle School, High School, Police, and Fire Department ensures consistent visibility.
• Diverse tenant mix including restaurants, clothing stores, services, gym, and church.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$424,844

Cap Rate

7.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,496,880 $8.5M

Cap Rate 7%

$6,069,200 $6.1M

Cap Rate 9%

$4,720,489 $4.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 36,850 SF

Gross rent

$663.3K $18.00/SF

− Vacancy

−$56.4K −$1.53/SF

EGI

$606.9K $16.47/SF

− OpEx

−$182.1K −$4.94/SF

NOI

$424.8K $11.53/SF

Area

Robertson County, TN

Vacancy

8.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$8,496,880

Cap Rate 7%

$6,069,200

Cap Rate 9%

$4,720,489

Alternative Uses

Best Use

Retail

$6.07M

$5.31M – $7.08M (±1% cap)

NOI $424,844 @ 7.0% cap · market cap 7.14%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$10.80M

$9.45M – $12.60M (±1% cap)

NOI $756,162 @ 7.0% cap · market cap 12.71%

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

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Quik Fit 24/7 Gym & Fitness Center Mindy's Alterations & Design (Bike/Boat/Book/etc) Store Southern Wave Boutique Clothing & Fashion Store Randy Florendo Physician

Suggested Use

Top Pick Real Estate Agency Dental Office Building Supply Spa & Massage Center HVAC Service Hair Salon

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

Location Intelligence

Trade Area within ½ mile

201

Businesses Nearby

20k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 76% Dining 18% Apparel 6%

Dollar General Shops & Services

12,240 visits/mo 0.4 miles

O'Reilly Auto Parts Shops & Services

2,825 visits/mo 0.3 miles

SUBWAY Dining

2,285 visits/mo 0.4 miles

Domino's Pizza Dining

1,286 visits/mo 0.4 miles

Factory Connection Apparel

1,142 visits/mo 0.1 miles

Demographics for 37073, TN

14,506

Population

5,460

Households

2.7

Avg Household Size

41

Median Age

22%

College-Educated

92%

High-School Grad

51.2 sq mi

ZIP Area

283

Density / Sq Mi

$82,716

Median Household Income

$43,617

Median Earnings

$1,157

Median Rent

$339,100

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Similar Off Market Nearby

• Greenbrier Plaza — 2239 US-41, Greenbrier, TN 37073

Frequently Asked Questions

What type of property is this?

Shopping center - Fully leased retail/office property with diverse tenant mix in Greenbrier.

Where is this shopping center located?

The property is located at 2354 Highway 41 Greenbrier, TN.

What is the asking price?

The asking price for this property is $5,950,000.

What are key features of this property?

This property features: Fully leased retail/office property offering immediate income.; High‑traffic location on main road near City Hall, Middle School, High School, Police, and Fire Department ensures consistent visibility.; Diverse tenant mix including restaurants, clothing stores, services, gym, and church.