Mixed-Use Corner Building with
For Sale
Contact for pricing
321 Highway 76, White House, TN 37188
Corner mixed-use building with strong Highway 76 frontage and confirmed drive-thru potential, delivered vacant at sale.
Property Size1,839 SF
Lot Size0.31 Acres
Price / SF$407.78
Days on Market61
Property Features for 321 Highway 76
General Information
Standard status
Active
Size
1,839 SF
Lot size
0.31 Acres
Property subtype
Retail, Office, Mixed Use
Zoning
C-1
Additional Details
Highway Access
Yes
Building Details
Year Built
1959
Listing Agency:
Benchmark Realty LLC
Listed By:
Trevor Barber · License #355964
Source:
Crexi
Added: Jun 8
Changed: Jul 10
Last Checked: Aug 6 at 10:11AM
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 mixed-use corner building offers approximately 1,839 square feet of space and sits on about 0.31 acres. The property is designed for flexible commercial use, with an existing structure that can be continued as office or service space, or adapted for other concepts. The site is positioned to support development, and the City has confirmed drive-thru potential on the combined corner assemblage. Zoning is C-1, and the remarks indicate there is no minimum or maximum building footprint requirement.
The building is located at the intersection of Highway 76 and West Drive, providing strong frontage, easy access, and exposure along a high-traffic corridor. The property is part of a two-lot corner assemblage, with the adjacent 319 Highway 76 also available. Together, the parcels total approximately 0.64 acres, supporting future redevelopment planning for a range of small-format and drive-thru-oriented uses.
For buyers seeking an operational option, the owner-occupied building can be maintained for office or service use, with the ability to reposition as tenant demands change. For developers, the combination of C-1 zoning, confirmed drive-thru potential on the combined corner, and the availability of both parcels creates a straightforward path to pursue a future small-footprint retail or QSR concept. The property will be delivered vacant upon acceptable sale or ground lease terms.
The building is located at the intersection of Highway 76 and West Drive, providing strong frontage, easy access, and exposure along a high-traffic corridor. The property is part of a two-lot corner assemblage, with the adjacent 319 Highway 76 also available. Together, the parcels total approximately 0.64 acres, supporting future redevelopment planning for a range of small-format and drive-thru-oriented uses.
For buyers seeking an operational option, the owner-occupied building can be maintained for office or service use, with the ability to reposition as tenant demands change. For developers, the combination of C-1 zoning, confirmed drive-thru potential on the combined corner, and the availability of both parcels creates a straightforward path to pursue a future small-footprint retail or QSR concept. The property will be delivered vacant upon acceptable sale or ground lease terms.
Key Highlights
- ±1,839 SF mixed‑use building built in 1959 on approx. 0.31 acres at the corner of Highway 76 and West Drive
- Strong Highway 76 frontage on a high‑traffic corridor with easy access and exposure
- Zoned C‑1 with flexible commercial potential and no minimum or maximum building footprint restrictions stated
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
$30,768
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
4.10%
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%
$615,360
$615.4K
Cap Rate 7%
$439,543
$439.5K
Cap Rate 9%
$341,867
$341.9K
Market Conditions
NOI Build-Up for 1,839 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
$48.5K $26.40/SF
− Vacancy
−$7.5K −$4.09/SF
EGI
$41.0K $22.31/SF
− OpEx
−$10.3K −$5.58/SF
NOI
$30.8K $16.73/SF
Area
Robertson 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%
$615,360
Cap Rate 7%
$439,543
Cap Rate 9%
$341,867
Alternative Uses
Best Use
Office B
$439.5K
$384.6K – $512.8K
NOI $30,768 @ 7.0% cap · market cap 4.10%
Second Best
Retail
$302.9K
$265.0K – $353.4K
NOI $21,202 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$539.1K
$471.7K – $628.9K
NOI $37,736 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 37188, TN
16,281
Population
6,815
Households
2.4
Avg Household Size
38
Median Age
25%
College-Educated
92%
High-School Grad
30.7 sq mi
ZIP Area
530
Density / Sq Mi
$87,412
Median Household Income
$48,556
Median Earnings
$1,394
Median Rent
$305,900
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 - Corner mixed-use building with strong Highway 76 frontage and confirmed drive-thru potential, delivered vacant at sale.
Where is this office building located?
The property is located at 321 Highway 76 White House, TN.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: ±1,839 SF mixed‑use building built in 1959 on approx. 0.31 acres at the corner of Highway 76 and West Drive; Strong Highway 76 frontage on a high‑traffic corridor with easy access and exposure; Zoned C‑1 with flexible commercial potential and no minimum or maximum building footprint restrictions stated
