Flex Industrial
2949 Armory Drive Nashville, TN 37204
2949 Armory Drive, Nashville, TN, 37204
Contact for pricing
For Sale
Contact for pricing
Multi-tenant flex/industrial building offered for sale or lease with space divisible for two tenants.
Property Size27,720 SF
Price / SF$261.54
Days on Market16
Property Features for 2949 Armory Drive
General Information
- Standard status
- Active
- Size
- 27,720 SF
- Property subtype
- Industrial
Listing agency
Charles Hawkins Co.
(678) 209-4851
Listed by
Tee Patterson, SIOR · License #320113
Source
Crexi
Added: Jul 7 Updated: Jul 22 at 1:23PM Checked: Jul 22 at 1:23PM
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 Charles Hawkins Co.
Investment Insights
Based on property information with market context.
A 27,720-square-foot flex/industrial building available for sale or lease. The property is divisible to provide suites of 12,740 SF and 14,980 SF. The building is currently configured for two tenants, with the ability to be converted back to a single-tenant layout if desired.
The property is located in the Sidco Drive/Powell Ave corridor near 100 Oaks, offering convenient access within a well-established commercial area.
Lease rates are listed on the offering materials as $18/SF NNN for 12,740 SF and $17.25/SF NNN for the full 27,720 SF, with additional lease option(s) described for the split configuration.
The property is located in the Sidco Drive/Powell Ave corridor near 100 Oaks, offering convenient access within a well-established commercial area.
Lease rates are listed on the offering materials as $18/SF NNN for 12,740 SF and $17.25/SF NNN for the full 27,720 SF, with additional lease option(s) described for the split configuration.
Key Highlights
- Multi‑tenant flex/industrial building totaling 27,720 SF, offered for sale or lease
- Lease options include 12,740 SF and 14,980 SF (divisible to two tenants)
- Asking lease rate: $17.25/SF NNN for 27,720 SF (also listed: $18/SF NNN for space)
Local Financial Insights For Flex RnD
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 | $432.4k | $15.60 |
| − Vacancy | −$21.6k | −$0.78 |
| EGI | $410.8k | $14.82 |
| − OpEx | −$143.8k | −$5.19 |
| NOI | $267.0k | $9.63 |
27,720 SF · lease $15.60/SF/yr · vacancy 5.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$3.81M
$3.34M – $4.45M
NOI $267,027 @ 7.0% cap · market cap 3.68%
Second Best
Industrial
$2.55M
$2.23M – $2.98M
NOI $178,528 @ 7.0% cap · market cap 2.46%
Theoretical Best
Office A
$7.06M
$6.17M – $8.23M
NOI $493,970 @ 7.0% cap · market cap 6.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Kate Hewko
Clothing Store
Similar For Sale Nearby
Similar Off Market Nearby
- Firehouse Subs Berry Hill — 708 Thompson Ln, Nashville, TN 37204
- Five Star Breaktime Solutions- Nashville — 440 Allied Dr, Nashville, TN 37211
- Chef Penelope's Catering — 2920 Sidco Dr, Nashville, TN 37204
- Bacon & Caviar Gourmet Catering — 2702 Nolensville Pk, Nashville, TN 37211
- Lahacienda Food Services Warehouse — 2639 Grandview Ave, Nashville, TN 37211
FAQs
What type of property is this?
Flex space - Multi-tenant flex/industrial building offered for sale or lease with space divisible for two tenants.
Where is this flex space located?
The property is located at 2949 Armory Drive Nashville, TN.
What is the asking price?
The asking price for this property is $7,250,000.
What are key features of this property?
This property features: Multi‑tenant flex/industrial building totaling 27,720 SF, offered for sale or lease; Lease options include 12,740 SF and 14,980 SF (divisible to two tenants); Asking lease rate: $17.25/SF NNN for 27,720 SF (also listed: $18/SF NNN for space)
