Multi-Tenant Office
For Sale
$3,950,000
275 Jackson Meadows Dr, Hermitage, TN 37076
Established office property with long-term occupants and a professional business-district setting.
Property Size9,892 SF
Price / SF$399.31
Days on Market44
Property Features for 275 Jackson Meadows Dr
General Information
Standard status
Active
Size
9,892 SF
Building Details
Year Built
2005
Tenancy
Multi
Listing Agency:
Regal Realty Group
(615) 618-0990
Listed By:
Crystal Lethcoe · License #327488
Source:
Shearonsellsteam
Added: Jul 17
Changed: Aug 28
Last Checked: Aug 29 at 11:35AM
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 Regal Realty Group
Investment Insights
Based on property information with market context.
Constructed in 2005, this office building contains 9,892 square feet and is occupied by multiple tenants. The tenancy includes long-term occupants, with most tenants holding multi-year leases, providing a defined existing occupancy profile.
The property is located at 275 Jackson Meadows Dr in Hermitage, within a professional business district behind Walmart on Lebanon Rd. Its office-oriented configuration and established tenant base support continued use as a multi-tenant commercial office property.
The property is located at 275 Jackson Meadows Dr in Hermitage, within a professional business district behind Walmart on Lebanon Rd. Its office-oriented configuration and established tenant base support continued use as a multi-tenant commercial office property.
Key Highlights
- 9,892‑square‑foot office building constructed in 2005
- Multiple tenants occupy the property
- All tenants are described as long‑term occupants
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
$165,503
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
4.19%
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%
$3,310,060
$3.3M
Cap Rate 7%
$2,364,329
$2.4M
Cap Rate 9%
$1,838,922
$1.8M
Market Conditions
NOI Build-Up for 9,892 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
$261.1K $26.40/SF
− Vacancy
−$40.5K −$4.09/SF
EGI
$220.7K $22.31/SF
− OpEx
−$55.2K −$5.58/SF
NOI
$165.5K $16.73/SF
Area
Davidson County, TN
Vacancy
15.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$3,310,060
Cap Rate 7%
$2,364,329
Cap Rate 9%
$1,838,922
Alternative Uses
Best Use
Office B
$2.36M
$2.07M – $2.76M
NOI $165,503 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$11.98M
$10.48M – $13.97M
NOI $838,308 @ 7.0% cap · market cap 21.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
534
Businesses Nearby
Explore this area
Business Placement
Demographics for 37076, TN
39,326
Population
19,235
Households
2
Avg Household Size
37
Median Age
40%
College-Educated
95%
High-School Grad
27.8 sq mi
ZIP Area
1,415
Density / Sq Mi
$74,555
Median Household Income
$50,286
Median Earnings
$1,438
Median Rent
$348,300
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?
Office building - Established office property with long-term occupants and a professional business-district setting.
Where is this office building located?
The property is located at 275 Jackson Meadows Dr Hermitage, TN.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: 9,892‑square‑foot office building constructed in 2005; Multiple tenants occupy the property; All tenants are described as long‑term occupants
