Multi-Suite Office
341 Hancock St, Gallatin, TN 37066
For Sale
$1,495,000
Professional office property with flexible suite configuration and potential for owner occupancy.
Property Size7,668 SF
Price / SF$194.97
Days on Market87
Property Features for 341 Hancock St
General Information
Standard status
Size
Building Details
Year Built
Buildings
Stories
Listing Agency:
HALO Properties
Listed By:
Danny Hale 6155339596
(615) 533-9596
Source:
Smokymountainshomefinder
Added: Aug 13
Changed: Nov 1
Last Checked: Nov 6 at 9:23AM
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 HALO Properties
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1999, this 7,668-square-foot office building offers a multi-suite configuration for professional or medical office use. The ground floor includes two 2,550-square-foot offices, while the second floor provides two to three additional offices with separate entrances. The layout can accommodate up to six suites, supporting a range of occupancy arrangements.
The property is located at 341 Hancock St in Gallatin, Tennessee. It is currently leased, with possession subject to negotiation. The existing configuration may suit an owner-occupant seeking office space alongside additional suites within the same building.
The property is located at 341 Hancock St in Gallatin, Tennessee. It is currently leased, with possession subject to negotiation. The existing configuration may suit an owner-occupant seeking office space alongside additional suites within the same building.
Key Highlights
- 7,668‑square‑foot office building constructed in 1999
- Two 2,550‑square‑foot offices on the ground floor
- Second floor includes 2–3 offices with separate entrances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$128,293
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,565,860
$2.6M
Cap Rate 7%
$1,832,757
$1.8M
Cap Rate 9%
$1,425,478
$1.4M
Market Conditions
NOI Build-Up for 7,668 SF
Gross rent
$202.4K $26.40/SF
− Vacancy
−$31.4K −$4.09/SF
EGI
$171.1K $22.31/SF
− OpEx
−$42.8K −$5.58/SF
NOI
$128.3K $16.73/SF
Area
Sumner 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 Rate 5%
$2,565,860
Cap Rate 7%
$1,832,757
Cap Rate 9%
$1,425,478
Alternative Uses
Best Use
Office B
$1.83M
$1.60M – $2.14M
NOI $128,293 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.68M
$2.35M – $3.13M
NOI $187,882 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Explore this area
Business Placement
Demographics for 37066, TN
59,370
Population
25,939
Households
2.3
Avg Household Size
40
Median Age
34%
College-Educated
91%
High-School Grad
116.3 sq mi
ZIP Area
510
Density / Sq Mi
$78,049
Median Household Income
$43,311
Median Earnings
$1,305
Median Rent
$376,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Professional office property with flexible suite configuration and potential for owner occupancy.
Where is this office building located?
The property is located at 341 Hancock St Gallatin, TN.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: 7,668‑square‑foot office building constructed in 1999; Two 2,550‑square‑foot offices on the ground floor; Second floor includes 2–3 offices with separate entrances
