Functional Industrial Building with
For Sale
$4,500,000
314 Babb Dr, Lebanon, TN 37087
36,800 SF industrial building with office and yard space.
Property Size36,800 SF
Price / SF$122.28
Days on Market493
Property Features for 314 Babb Dr
General Information
Standard status
Active
Size
36,800 SF
Building Details
Year Built
1985
Listing Agency:
AGEE & JOHNSON REALTY & AUCTION, INC
Listed By:
TAYLOR VANDEVER · License #333220
(615) 444-0909
Source:
Corcoran
Added: Jun 11, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:08AM
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 AGEE & JOHNSON REALTY & AUCTION, INC
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Investment Insights
Based on property information with market context.
This 36,800 SF industrial building features a functional layout with a 16-foot clear height and 30' x 40' column spacing, suitable for warehousing, manufacturing, or distribution. Currently used as a cabinet shop, the property includes 1,920 SF of office space with private offices, open work areas, and a breakroom, supported by dedicated office HVAC. It is equipped with 3-phase 277/480V electrical service powered by a dedicated 150 kVA pad-mounted transformer. The property has ample area for yard storage for equipment, inventory, or trailers. Zoned IP – Planned Business/Industrial Park, the site permits a range of uses including office, auto parking/repair/service, building materials, construction, warehousing, and vehicular related sales. Conditional uses such as heavier construction services are also available with approval. Development standards include generous setbacks and flexible building area allowances. Convenient access to major transportation corridors enhances the property's functionality.
Key Highlights
- 36,800 SF industrial building with functional layout suitable for warehousing, manufacturing, or distribution.
- Ample yard space for outdoor storage of equipment, inventory, or trailers.
- 3‑Phase 277/480V electrical service with dedicated 150 kVA transformer.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$220,412
Cap Rate
4.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,408,240
$4.4M
Cap Rate 7%
$3,148,743
$3.1M
Cap Rate 9%
$2,449,022
$2.4M
Market Conditions
NOI Build-Up for 36,800 SF
Gross rent
$357.7K $9.72/SF
− Vacancy
−$18.6K −$0.51/SF
EGI
$339.1K $9.21/SF
− OpEx
−$118.7K −$3.23/SF
NOI
$220.4K $5.99/SF
Area
Wilson County, TN
Vacancy
5.20%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,408,240
Cap Rate 7%
$3,148,743
Cap Rate 9%
$2,449,022
Alternative Uses
Best Use
Warehouse
$48.26M
$42.22M – $56.30M
NOI $3,377,958 @ 7.0% cap · market cap 75.07%
Second Best
Industrial
$39.74M
$34.77M – $46.36M
NOI $2,781,848 @ 7.0% cap · market cap 61.82%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Explore this area
Business Placement
Demographics for 37087, TN
51,658
Population
21,800
Households
2.4
Avg Household Size
39
Median Age
29%
College-Educated
92%
High-School Grad
164.9 sq mi
ZIP Area
313
Density / Sq Mi
$80,978
Median Household Income
$43,253
Median Earnings
$1,134
Median Rent
$359,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Manufacturing property - 36,800 SF industrial building with office and yard space.
Where is this manufacturing property located?
The property is located at 314 Babb Dr Lebanon, TN.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 36,800 SF industrial building with functional layout suitable for warehousing, manufacturing, or distribution.; Ample yard space for outdoor storage of equipment, inventory, or trailers.; 3‑Phase 277/480V electrical service with dedicated 150 kVA transformer.
