Freestanding Storefront
For Sale
Contact for pricing
3450 Lebanon Pike, Hermitage, TN 37076
Standalone retail space with CS Commercial Service zoning and a readily identifiable storefront configuration.
Property Size2,569 SF
Price / SF$348.38
Days on Market139
Property Features for 3450 Lebanon Pike
General Information
Standard status
Active
Size
2,569 SF
Property subtype
Retail
Zoning
CS (Commercial Service)
Lease Type
NNN
Building Details
Year Built
1968
Stories
1
Listing Agency:
Charles Hawkins Co.
(615) 256-3189
Listed By:
Michael W. Groos · License #TN 283944
Source:
Crexi
Added: Apr 15
Changed: Aug 30
Last Checked: Aug 30 at 10:08PM
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 Charles Hawkins Co.
Investment Insights
Based on property information with market context.
This freestanding storefront property provides approximately 2,569 square feet of retail space within a standalone commercial building. The improvements date to 1968 and are positioned along Lebanon Pike in Hermitage, Tennessee.
The property carries CS (Commercial Service) zoning, supporting its classification as a commercial retail asset. It is offered for sale at 3450 Lebanon Pike.
The property carries CS (Commercial Service) zoning, supporting its classification as a commercial retail asset. It is offered for sale at 3450 Lebanon Pike.
Key Highlights
- 2,569 square feet of total available space
- CS (Commercial Service) zoning
- Freestanding retail building configuration
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
$30,751
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
3.44%
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%
$615,020
$615.0K
Cap Rate 7%
$439,300
$439.3K
Cap Rate 9%
$341,678
$341.7K
Market Conditions
NOI Build-Up for 2,569 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
$46.2K $18.00/SF
− Vacancy
−$2.3K −$0.90/SF
EGI
$43.9K $17.10/SF
− OpEx
−$13.2K −$5.13/SF
NOI
$30.8K $11.97/SF
Area
Davidson County, TN
Vacancy
5.00%
Lease Rate
$18.00 /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%
$615,020
Cap Rate 7%
$439,300
Cap Rate 9%
$341,678
Alternative Uses
Best Use
Retail
$439.3K
$384.4K – $512.5K
NOI $30,751 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.11M
$2.72M – $3.63M
NOI $217,713 @ 7.0% cap · market cap 24.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
709
Businesses Nearby
199k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 65%
Shops & Services 17%
Home Improvements & Furnishings 14%
Electronics 4%
Lowe's
Home Improvements & Furnishings
26,547 visits/mo
0.4 miles
McDonald's
Dining
20,032 visits/mo
0.1 miles
Whataburger
Dining
18,660 visits/mo
0.5 miles
Dutch Bros. Coffee
Dining
15,768 visits/mo
0.4 miles
Chili's Grill & Bar
Dining
14,503 visits/mo
0.4 miles
Demographics for 37076, TN
39,326
Population
19,235
Households
2
Avg Household Size
37
Median Age
40%
College-Educated
95%
High-School Grad
27.8 sq mi
ZIP Area
1,415
Density / Sq Mi
$74,555
Median Household Income
$50,286
Median Earnings
$1,438
Median Rent
$348,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - Standalone retail space with CS Commercial Service zoning and a readily identifiable storefront configuration.
Where is this storefront property located?
The property is located at 3450 Lebanon Pike Hermitage, TN.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 2,569 square feet of total available space; CS (Commercial Service) zoning; Freestanding retail building configuration
