Corner Commercial Assemblage with
For Sale
$1,500,000
321 Highway 76, White House, TN 37188
Two-parcel corner site on Highway 76 with direct drive access from Highway 76 and West Drive, plus drive-thru approval.
Property Size4,134 SF
Lot Size0.64 Acres
Price / SF$362.84
Days on Market82
Property Features for 321 Highway 76
General Information
Standard status
Active
Size
4,134 SF
Lot size
0.64 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
Benchmark Realty,LLC
(615) 991-6271
Listed By:
Trevor Barber · License #355964
Source:
Benchmarkrealtytn
Added: Jun 2
Changed: Aug 22
Last Checked: Aug 22 at 9:01AM
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 0.64-acre corner assemblage combines 319 and 321 Highway 76 into a single, highly visible commercial site with frontage and direct access from both Highway 76 and West Drive. The property includes existing buildings that may be held and operated as office/service space, or demolished for ground-up development. Flexible commercial zoning supports a wide range of uses, and there are no stated minimum or maximum building footprint limits. The city planning director has confirmed drive-thru is acceptable on the site, with entrance and exit planned on West Drive, while Highway 76 ingress/egress would remain secondary.
The site is located in White House, Tennessee at Highway 76 and West Drive. West Drive functions as the pickup line route for White House Heritage Elementary, creating steady weekday vehicle activity that can align well with quick-service restaurant, coffee, and dessert concepts, as well as daycare. The city has also indicated that a day care use would be welcomed, with support from Heritage Elementary located at the rear of the street.
For tenants, buyers, or developers, the property’s corner configuration and dual-road access can support operators seeking straightforward customer flow for drive-thru and walk-in service. For longer-horizon redevelopment, the ability to demolish and build ground-up provides flexibility to match a future program, while interim use as office/service space may help support continuity ahead of redevelopment plans.
The site is located in White House, Tennessee at Highway 76 and West Drive. West Drive functions as the pickup line route for White House Heritage Elementary, creating steady weekday vehicle activity that can align well with quick-service restaurant, coffee, and dessert concepts, as well as daycare. The city has also indicated that a day care use would be welcomed, with support from Heritage Elementary located at the rear of the street.
For tenants, buyers, or developers, the property’s corner configuration and dual-road access can support operators seeking straightforward customer flow for drive-thru and walk-in service. For longer-horizon redevelopment, the ability to demolish and build ground-up provides flexibility to match a future program, while interim use as office/service space may help support continuity ahead of redevelopment plans.
Key Highlights
- 0.64± acre corner assemblage at Highway 76 and West Drive in White House, TN (includes 319 and 321 Highway 76).
- Direct access from both Highway 76 and West Drive, with West Drive used as the pickup line for White House Heritage Elementary.
- City planning director confirmed drive‑thru is acceptable, with entrance and exit on West Drive (Highway 76 access to remain secondary).
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
$58,406
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
3.89%
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%
$1,168,120
$1.2M
Cap Rate 7%
$834,371
$834.4K
Cap Rate 9%
$648,956
$649.0K
Market Conditions
NOI Build-Up for 4,134 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
$82.8K $20.04/SF
− Vacancy
−$5.0K −$1.20/SF
EGI
$77.9K $18.84/SF
− OpEx
−$19.5K −$4.71/SF
NOI
$58.4K $14.13/SF
Area
Robertson County, TN
Vacancy
6.00%
Lease Rate
$20.04 /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%
$1,168,120
Cap Rate 7%
$834,371
Cap Rate 9%
$648,956
Alternative Uses
Best Use
Specialty Retail
$834.4K
$730.1K – $973.4K
NOI $58,406 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,830 @ 7.0% cap · market cap 5.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
137k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 53%
Groceries 31%
Dining 11%
Home Improvements & Furnishings 5%
Kroger
Groceries
42,606 visits/mo
0.5 miles
Kroger Fuel Center
Shops & Services
17,309 visits/mo
0.5 miles
Dollar Tree
Shops & Services
16,272 visits/mo
0.4 miles
Speedway
Shops & Services
13,199 visits/mo
0.4 miles
SONIC Drive In
Dining
11,114 visits/mo
0.2 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Day care center - Two-parcel corner site on Highway 76 with direct drive access from Highway 76 and West Drive, plus drive-thru approval.
Where is this day care center located?
The property is located at 321 Highway 76 White House, TN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 0.64± acre corner assemblage at Highway 76 and West Drive in White House, TN (includes 319 and 321 Highway 76).; Direct access from both Highway 76 and West Drive, with West Drive used as the pickup line for White House Heritage Elementary.; City planning director confirmed drive‑thru is acceptable, with entrance and exit on West Drive (Highway 76 access to remain secondary).
