Class B Flex
For Sale
Contact for pricing
3502 Dickerson Pike, Nashville, TN 37207
SP-zoned flex space along Nashville’s Dickerson Pike corridor with adaptable configuration for multiple user types.
Property Size12,156 SF
Price / SF$275.58
Days on Market160
Property Features for 3502 Dickerson Pike
General Information
Standard status
Active
Size
12,156 SF
Class
B
Property subtype
Industrial
Zoning
SP
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$214,000
Building Details
Year Built
1977
Buildings
1
Stories
2
Units
1
Tenancy
Single
Listing Agency:
KW Commercial Nashville
(615) 507-4065
Listed By:
Randy Brown · License #349544
Source:
Crexi
Added: Mar 25
Changed: Aug 30
Last Checked: Aug 30 at 5:50AM
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 KW Commercial Nashville
Investment Insights
Based on property information with market context.
This Class B flex property contains 12,156 square feet and was built in 1977. Its adaptable layout supports multiple user types, making the building suitable for both owner-user and investment considerations. The property is zoned SP and offers an infill industrial setting along Dickerson Pike.
Located at 3502 Dickerson Pike in Nashville, the building sits north of Downtown Nashville within a corridor experiencing new multifamily, service retail, and light industrial development. The surrounding area is also seeing commercial and residential investment, while the corridor connects the property with urban Nashville and suburban areas to the north and east.
Located at 3502 Dickerson Pike in Nashville, the building sits north of Downtown Nashville within a corridor experiencing new multifamily, service retail, and light industrial development. The surrounding area is also seeing commercial and residential investment, while the corridor connects the property with urban Nashville and suburban areas to the north and east.
Key Highlights
- 12,156‑square‑foot flex building
- Class B industrial flex property built in 1977
- SP zoning
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
$102,891
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
3.07%
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%
$2,057,820
$2.1M
Cap Rate 7%
$1,469,871
$1.5M
Cap Rate 9%
$1,143,233
$1.1M
Market Conditions
NOI Build-Up for 12,156 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
$157.5K $12.96/SF
− Vacancy
−$10.6K −$0.87/SF
EGI
$147.0K $12.09/SF
− OpEx
−$44.1K −$3.63/SF
NOI
$102.9K $8.46/SF
Area
ZIP 37207
Vacancy
6.70%
Lease Rate
$12.96 /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%
$2,057,820
Cap Rate 7%
$1,469,871
Cap Rate 9%
$1,143,233
Alternative Uses
Best Use
Industrial
$1.47M
$1.29M – $1.71M
NOI $102,891 @ 7.0% cap · market cap 3.07%
Second Best
Flex RnD
$1.36M
$1.19M – $1.59M
NOI $95,541 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$3.48M
$3.04M – $4.06M
NOI $243,459 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 37207, TN
38,719
Population
18,698
Households
2.1
Avg Household Size
34
Median Age
33%
College-Educated
88%
High-School Grad
19.3 sq mi
ZIP Area
2,006
Density / Sq Mi
$60,102
Median Household Income
$38,115
Median Earnings
$1,200
Median Rent
$332,500
Median Home Value
Market
Vacancy Rate% for Industrial in Nashville, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - SP-zoned flex space along Nashville’s Dickerson Pike corridor with adaptable configuration for multiple user types.
Where is this flex space located?
The property is located at 3502 Dickerson Pike Nashville, TN.
What is the asking price?
The asking price for this property is $3,350,000.
What are key features of this property?
This property features: 12,156‑square‑foot flex building; Class B industrial flex property built in 1977; SP zoning
