Renovated Office Condo in
For Sale
$459,000
Pending
311 S Royal Oaks Blvd SE, Franklin, TN 37064
Newly renovated 1,132 SF office condo for sale.
Property Size1,132 SF
Lot Size1.00 Acre
Days on Market403
Property Features for 311 S Royal Oaks Blvd SE
General Information
Standard status
Pending
Size
1,132 SF
Lot size
1.00 Acre
Property subtype
Commercial
Amenities
Asphalt Roof
Building Details
Year Built
2006
Listing Agency:
BENCHMARK REALTY, LLC
(615) 371-1544
Listed By:
RON TAYLOR
Source:
Corcoran
Added: Jul 4, 2025
Changed: Aug 8
Last Checked: Apr 6 at 3:15AM
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 BENCHMARK REALTY, LLC
Investment Insights
Based on property information with market context.
This is a newly renovated 1st floor, 1-level office condo located in Franklin. The property has a total area of 1,132 square feet. The layout includes a reception area, three individual offices, one large restroom, a kitchen area, storage space, and a rear door.
Key Highlights
- Newly Renovated for a fresh, modern feel.
- 1st Floor, 1 Level Office Condo providing easy access.
- Located in Franklin, offering a desirable business address.
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
$18,939
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
4.13%
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%
$378,780
$378.8K
Cap Rate 7%
$270,557
$270.6K
Cap Rate 9%
$210,433
$210.4K
Market Conditions
NOI Build-Up for 1,132 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
$29.9K $26.40/SF
− Vacancy
−$4.6K −$4.09/SF
EGI
$25.3K $22.31/SF
− OpEx
−$6.3K −$5.58/SF
NOI
$18.9K $16.73/SF
Area
Williamson 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%
$378,780
Cap Rate 7%
$270,557
Cap Rate 9%
$210,433
Alternative Uses
Best Use
Office B
$270.6K
$236.7K – $315.7K
NOI $18,939 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$331.8K
$290.4K – $387.2K
NOI $23,229 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
Explore this area
Business Placement
Demographics for 37064, TN
62,422
Population
25,302
Households
2.5
Avg Household Size
41
Median Age
59%
College-Educated
94%
High-School Grad
184.0 sq mi
ZIP Area
339
Density / Sq Mi
$121,492
Median Household Income
$56,690
Median Earnings
$1,810
Median Rent
$664,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Newly renovated 1,132 SF office condo for sale.
Where is this office units located?
The property is located at 311 S Royal Oaks Blvd SE Franklin, TN.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Newly Renovated for a fresh, modern feel.; 1st Floor, 1 Level Office Condo providing easy access.; Located in Franklin, offering a desirable business address.
