Smyrna Commercial Building For
For Sale
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264 S Lowry St, Smyrna, TN 37167
Highly visible commercial building in Smyrna, Tennessee with flexible layout.
Property Size2,379 SF
Price / SF$273.22
Days on Market141
Property Features for 264 S Lowry St
General Information
Standard status
Active
Size
2,379 SF
Class
C
Property subtype
Office, Retail
Zoning
Commercial
Building Details
Year Built
1975
Buildings
1
Listing Agency:
Stevens Group Commercial Real Estate
(615) 366-8900
Listed By:
Rusty Rust · License #TN 00231953
Source:
Crexi
Added: Mar 24
Changed: Aug 8
Last Checked: Aug 10 at 3:23PM
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 Stevens Group Commercial Real Estate
Investment Insights
Based on property information with market context.
Located in Smyrna, Tennessee, the property at 294 S Lowry St is a 2,379 SF commercial building situated along a busy corridor. The location benefits from approximately 25,000 vehicles per day passing the property, providing exposure for retail, office, or service-oriented businesses. The building is configured as a single tenant space, but the layout allows for division into two separate suites, each with individually metered utilities. The property is positioned on S Lowry Street and benefits from traffic, established surrounding businesses, and access to the Smyrna and Nashville, Tennessee markets.
Key Highlights
- High visibility location on a busy corridor with approximately 25,000 vehicles per day.
- 2,379 SF commercial building suitable for retail, office, or service‑oriented businesses.
- Potential for multi‑tenant use with the ability to divide into two separate suites with individually metered utilities.
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
$54,291
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
8.35%
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%
$1,085,820
$1.1M
Cap Rate 7%
$775,586
$775.6K
Cap Rate 9%
$603,233
$603.2K
Market Conditions
NOI Build-Up for 2,379 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
$80.8K $33.96/SF
− Vacancy
−$3.2K −$1.36/SF
EGI
$77.6K $32.60/SF
− OpEx
−$23.3K −$9.78/SF
NOI
$54.3K $22.82/SF
Area
Rutherford County, TN
Vacancy
4.00%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
30.00%
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%
$1,085,820
Cap Rate 7%
$775,586
Cap Rate 9%
$603,233
Alternative Uses
Best Use
Retail
$775.6K
$678.6K – $904.9K
NOI $54,291 @ 7.0% cap · market cap 8.35%
Second Best
Office B
$568.6K
$497.5K – $663.4K
NOI $39,803 @ 7.0% cap · market cap 6.12%
Theoretical Best
Specialty Retail
$822.2K
$719.4K – $959.2K
NOI $57,553 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
144
Businesses Nearby
Explore this area
Business Placement
Demographics for 37167, TN
61,731
Population
23,694
Households
2.6
Avg Household Size
36
Median Age
28%
College-Educated
90%
High-School Grad
55.0 sq mi
ZIP Area
1,122
Density / Sq Mi
$79,720
Median Household Income
$42,705
Median Earnings
$1,359
Median Rent
$330,600
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?
Retail space - Highly visible commercial building in Smyrna, Tennessee with flexible layout.
Where is this retail space located?
The property is located at 264 S Lowry St Smyrna, TN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: High visibility location on a busy corridor with approximately 25,000 vehicles per day.; 2,379 SF commercial building suitable for retail, office, or service‑oriented businesses.; Potential for multi‑tenant use with the ability to divide into two separate suites with individually metered utilities.
