Retail Building Near Interstate
For Sale
$599,000
331 S Maple Street, Lebanon, TN 37087
1.05 acre retail property with 1535 SF building.
Property Size1,535 SF
Lot Size1.05 Acres
Price / SF$390.23
Days on Market285
Property Features for 331 S Maple Street
General Information
Standard status
Active
Size
1,535 SF
Lot size
1.05 Acres
Property subtype
Commercial
Building Details
Year Built
1914
Listed By:
Christy Ross
(615) 415-2043
Source:
Benchmarkrealtytn
Added: Nov 24, 2025
Changed: Sep 4
Last Checked: Aug 20 at 4:41AM
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 Christy Ross
Investment Insights
Based on property information with market context.
This commercial property features a 1,535-square-foot building situated on 1.05 acres. The zoning is CS, which allows for a range of permitted uses including food service, veterinary service, retail trade, and medical or healthcare services. The property is located minutes from Interstate I40 and is surrounded by restaurants, retail establishments, and entertainment venues.
Key Highlights
- 1.05 acres zoned CS (Commercial Services)
- 1535 sq foot building included
- Permitted uses include Food Service, Veterinary Service, Retail Trade, Medical/Healthcare Services
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
$35,103
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
5.86%
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%
$702,060
$702.1K
Cap Rate 7%
$501,471
$501.5K
Cap Rate 9%
$390,033
$390.0K
Market Conditions
NOI Build-Up for 1,535 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
$52.1K $33.96/SF
− Vacancy
−$2.0K −$1.29/SF
EGI
$50.1K $32.67/SF
− OpEx
−$15.0K −$9.80/SF
NOI
$35.1K $22.87/SF
Area
Wilson County, TN
Vacancy
3.80%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
30.00%
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%
$702,060
Cap Rate 7%
$501,471
Cap Rate 9%
$390,033
Alternative Uses
Best Use
Retail
$501.5K
$438.8K – $585.1K
NOI $35,103 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.01M
$1.76M – $2.35M
NOI $140,901 @ 7.0% cap · market cap 23.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
953
Businesses Nearby
101k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 58%
Dining 26%
Electronics 9%
Office Supplies 7%
RaceTrac
Shops & Services
30,124 visits/mo
0.2 miles
Murphy USA
Shops & Services
23,796 visits/mo
0.5 miles
Starbucks
Dining
18,529 visits/mo
0.5 miles
AT&T
Electronics
8,309 visits/mo
0.5 miles
OfficeMax
Office Supplies
6,672 visits/mo
0.2 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - 1.05 acre retail property with 1535 SF building.
Where is this retail space located?
The property is located at 331 S Maple Street Lebanon, TN.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 1.05 acres zoned CS (Commercial Services); 1535 sq foot building included; Permitted uses include Food Service, Veterinary Service, Retail Trade, Medical/Healthcare Services
