Five-Unit Flex
New
For Sale
$1,800,000
246 Rockland Rd, Hendersonville, TN 37075
The property combines front offices, rear warehouse areas, roll-up doors, and restrooms across five units.
Property Size10,000 SF
Price / SF$180
Days on Market7
Property Features for 246 Rockland Rd
General Information
Standard status
Active
Size
10,000 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Conditioned Warehouse
No
Amenities
His and Hers bathrooms
Metal Roof
Building Details
Year Built
2008
Building Size
10,000 SF
Listing Agency:
CLAUSEN GROUP REALTORS
(615) 452-8700
Listed By:
MATT CLAUSEN
Source:
Corcoran
Added: Jul 31
Changed: Aug 2
Last Checked: Aug 5 at 6:08AM
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 CLAUSEN GROUP REALTORS
Investment Insights
Based on property information with market context.
This 10,000-square-foot flex property is configured as five 2,000-square-foot units. Each unit includes approximately 500 square feet of front office area and 1,500 square feet of rear warehouse space, along with a 10-foot roll-up door and separate men’s and women’s restrooms. The warehouse areas are not conditioned.
Located at 246 Rockland Rd in Hendersonville, the property is near Hwy 386 and Hwy 65, with Nashville approximately 20 minutes away. A new metal roof was installed following a tornado event on Rockland Rd. Four tenants want to remain, while one tenant is expected to vacate within the next few months.
Located at 246 Rockland Rd in Hendersonville, the property is near Hwy 386 and Hwy 65, with Nashville approximately 20 minutes away. A new metal roof was installed following a tornado event on Rockland Rd. Four tenants want to remain, while one tenant is expected to vacate within the next few months.
Key Highlights
- 10,000‑square‑foot flex property divided into five 2,000‑square‑foot units
- Each unit offers 500 square feet of office space and 1,500 square feet of warehouse area
- Every unit includes a 10‑foot roll‑up door
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $97.5k | $9.75 |
| − Vacancy | −$3.0k | −$0.30 |
| EGI | $94.5k | $9.45 |
| − OpEx | −$14.2k | −$1.42 |
| NOI | $80.3k | $8.03 |
10,000 SF · lease $9.75/SF/yr · vacancy 3.10% · expense 15.00%
Alternative Uses
Best Use
Office B
$2.39M
$2.09M – $2.79M
NOI $167,310 @ 7.0% cap · market cap 9.30%
Second Best
Warehouse
$1.15M
$1.00M – $1.34M
NOI $80,306 @ 7.0% cap · market cap 4.46%
Theoretical Best
Specialty Retail
$3.50M
$3.06M – $4.08M
NOI $245,021 @ 7.0% cap · market cap 13.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,267
Businesses Nearby
Under-served
Demand for This Use
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?
Flex space - The property combines front offices, rear warehouse areas, roll-up doors, and restrooms across five units.
Where is this flex space located?
The property is located at 246 Rockland Rd Hendersonville, TN.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 10,000‑square‑foot flex property divided into five 2,000‑square‑foot units; Each unit offers 500 square feet of office space and 1,500 square feet of warehouse area; Every unit includes a 10‑foot roll‑up door
