Shovel-Ready Corner Development
For Sale
$950,000
2700 Tucker Rd, Nashville, TN 37218
Corner commercial development site with approved plans for a 12-unit STR-eligible townhome project and utilities at the street.
Property Size3,000 SF
Lot Size1.00 Acre
Price / SF$316.67
Days on Market51
Property Features for 2700 Tucker Rd
General Information
Standard status
Active
Size
3,000 SF
Lot size
1.00 Acre
Property subtype
Commercial
Zoning
CL
Additional Details
Utilities to Site
Yes
Multifamily Units
12
Building Details
Building Size
3,000 SF
Year Built
1955
Listing Agency:
eXp Realty
(615) 627-8100
Listed By:
Josh McDonald · License #366945
(615) 627-8100
Source:
Spotlightproperties
Added: Jul 6
Changed: Aug 24
Last Checked: Aug 25 at 8:08AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This corner commercial development land includes approved and shovel-ready plans for a 12-unit STR-eligible townhome development, with full plans, renders, and architecture included with the sale. The site is described as flat with minimal grading. An existing bar/restaurant building and a residential rental home on-site provide about 3,000 square feet of combined space that can be rehabbed or refitted for a commercial use.
The property is located near a Full 1-Acre Commercial-CL off the W Trinity Ln Main Corridor, and the seller states it is approximately 8 minutes from Downtown, with the new Oracle Development noted in the remarks. All utilities are reported to be at the street, including water, gas, and electric, supporting readiness for development.
All diligence and related materials are available for review, and taxes are stated as to be determined. The owner/agent encourages inquiries with all questions.
The property is located near a Full 1-Acre Commercial-CL off the W Trinity Ln Main Corridor, and the seller states it is approximately 8 minutes from Downtown, with the new Oracle Development noted in the remarks. All utilities are reported to be at the street, including water, gas, and electric, supporting readiness for development.
All diligence and related materials are available for review, and taxes are stated as to be determined. The owner/agent encourages inquiries with all questions.
Key Highlights
- Corner commercial development site with approved, shovel‑ready plans for a 12‑unit STR‑eligible townhome project
- Full plans, renders, and full architecture included with the sale
- Commercial CL zoning permits unlimited residential FAR and allows for flexible development options
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
$31,270
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
3.29%
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%
$625,400
$625.4K
Cap Rate 7%
$446,714
$446.7K
Cap Rate 9%
$347,444
$347.4K
Market Conditions
NOI Build-Up for 3,000 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
$61.2K $20.40/SF
− Vacancy
−$4.3K −$1.45/SF
EGI
$56.9K $18.95/SF
− OpEx
−$25.6K −$8.53/SF
NOI
$31.3K $10.42/SF
Area
Nashville, TN
Vacancy
7.10%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$625,400
Cap Rate 7%
$446,714
Cap Rate 9%
$347,444
Alternative Uses
Best Use
Apartment 5plus
$446.7K
$390.9K – $521.2K
NOI $31,270 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$763.7K
$668.3K – $891.0K
NOI $53,460 @ 7.0% cap · market cap 5.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
Explore this area
Business Placement
Demographics for 37218, TN
14,875
Population
6,497
Households
2.3
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
39.0 sq mi
ZIP Area
381
Density / Sq Mi
$59,073
Median Household Income
$38,726
Median Earnings
$1,368
Median Rent
$295,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Corner commercial development site with approved plans for a 12-unit STR-eligible townhome project and utilities at the street.
Where is this commercial land located?
The property is located at 2700 Tucker Rd Nashville, TN.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Corner commercial development site with approved, shovel‑ready plans for a 12‑unit STR‑eligible townhome project; Full plans, renders, and full architecture included with the sale; Commercial CL zoning permits unlimited residential FAR and allows for flexible development options
