Mixed-Use Property with
For Sale
$360,000
317 Willard Dr, Nashville, TN 37211
The property combines a residence with a heated and cooled shop featuring a restroom and high ceilings.
Property Size1,800 SF
Price / SF$200
Days on Market419
Property Features for 317 Willard Dr
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Unimproved Land
Warehouse & Industrial
Clear Span
Yes
Conditioned Warehouse
Yes
Amenities
Security System
Water Available
Listing Agency:
Keller Williams Realty
(615) 479-4500
Listed By:
Michael Sohr · License #TN
(615) 479-4500
Source:
Kw
Added: Jul 8, 2025
Changed: Aug 29
Last Checked: Aug 29 at 5:30PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This mixed-use property includes a house and a detached 30' X 60' shop constructed by the owner for business operations. The shop is heated and cooled, with a bathroom, high ceilings, and a clear-span interior. A garage door, two pedestrian doors, and a carport support flexible access and use. The poured concrete foundation, driveway, and floor system are reinforced.
The property encompasses just over 1 acre at 317 Willard Dr in Nashville, Tennessee. Water is available, and a security system is included. The residence and shop are being offered together in their existing condition, with the house identified for renovation or removal.
The property encompasses just over 1 acre at 317 Willard Dr in Nashville, Tennessee. Water is available, and a security system is included. The residence and shop are being offered together in their existing condition, with the house identified for renovation or removal.
Key Highlights
- 30' X 60' heated and cooled shop with bathroom
- Clear‑span interior with high ceilings
- Garage door, two pedestrian doors, and carport
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
$18,630
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
5.18%
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%
$372,600
$372.6K
Cap Rate 7%
$266,143
$266.1K
Cap Rate 9%
$207,000
$207.0K
Market Conditions
NOI Build-Up for 1,800 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
$32.4K $18.00/SF
− Vacancy
−$2.6K −$1.44/SF
EGI
$29.8K $16.56/SF
− OpEx
−$11.2K −$6.21/SF
NOI
$18.6K $10.35/SF
Area
ZIP 37211
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$372,600
Cap Rate 7%
$266,143
Cap Rate 9%
$207,000
Alternative Uses
Best Use
Mixed Use
$266.1K
$232.9K – $310.5K
NOI $18,630 @ 7.0% cap · market cap 5.18%
Second Best
Flex RnD
$190.5K
$166.7K – $222.3K
NOI $13,338 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$527.7K
$461.7K – $615.6K
NOI $36,936 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
443
Businesses Nearby
Explore this area
Business Placement
Demographics for 37211, TN
81,830
Population
34,650
Households
2.4
Avg Household Size
33
Median Age
43%
College-Educated
86%
High-School Grad
21.7 sq mi
ZIP Area
3,771
Density / Sq Mi
$69,936
Median Household Income
$42,270
Median Earnings
$1,444
Median Rent
$374,200
Median Home Value
Market
Vacancy Rate% for Industrial in Nashville, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines a residence with a heated and cooled shop featuring a restroom and high ceilings.
Where is this mixed-use property located?
The property is located at 317 Willard Dr Nashville, TN.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 30' X 60' heated and cooled shop with bathroom; Clear‑span interior with high ceilings; Garage door, two pedestrian doors, and carport
