Retail Shops at Plaza
For Sale
Contact for pricing
3943-3961 Nolensville Pike, Nashville, TN
32,900 SF retail shops near Plaza Mariachi for sale.
Property Size32,900 SF
Lot Size10.63 Acres
Price / SF$324.53
Days on Market286
Property Features for 3943-3961 Nolensville Pike
General Information
Standard status
Active
Size
32,900 SF
Lot size
10.63 Acres
Property subtype
RETAIL
Listing Agency:
Colliers | Nashville
(615) 850-2700
Listed By:
Jim Morris · License #270138
(615) 850-2764
Source:
Moodyscre
Added: Nov 28, 2025
Changed: Aug 15
Last Checked: Sep 10 at 6:18AM
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 Colliers | Nashville
Investment Insights
Based on property information with market context.
The Shops at Plaza Mariachi in Nashville, TN, are available for sale. The offering includes three buildings totaling approximately 32,900 square feet of retail shop space. The shops are leased to a mix of locally owned businesses and national brands. These shops surround Plaza Mariachi, a cultural hub and tourist destination. Plaza Mariachi operates in the anchor space and is not part of the sale. The Nolensville Road corridor of south Nashville has a high traffic count and is a densely populated area.
Key Highlights
- High‑traffic location on Nolensville Road in densely populated South Nashville.
- Well‑leased retail space totaling approximately 32,900 SF.
- Mixture of locally owned businesses and national brands as tenants.
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
$379,304
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
3.55%
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%
$7,586,080
$7.6M
Cap Rate 7%
$5,418,629
$5.4M
Cap Rate 9%
$4,214,489
$4.2M
Market Conditions
NOI Build-Up for 32,900 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
$592.2K $18.00/SF
− Vacancy
−$50.3K −$1.53/SF
EGI
$541.9K $16.47/SF
− OpEx
−$162.6K −$4.94/SF
NOI
$379.3K $11.53/SF
Area
Nashville, TN
Vacancy
8.50%
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%
$7,586,080
Cap Rate 7%
$5,418,629
Cap Rate 9%
$4,214,489
Alternative Uses
Best Use
Retail
$5.42M
$4.74M – $6.32M
NOI $379,304 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.38M
$7.33M – $9.77M
NOI $586,278 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,043
Businesses Nearby
294k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 30%
Superstores 29%
Shops & Services 24%
Groceries 12%
Walmart
Superstores
85,098 visits/mo
0.3 miles
McDonald's
Dining
26,617 visits/mo
0.2 miles
Aldi
Groceries
19,896 visits/mo
0.4 miles
City Thrift
Apparel
15,524 visits/mo
0.3 miles
Patel Brothers
Groceries
15,359 visits/mo
0.3 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Nashville, TN
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Harding Plaza — 415 Harding Pl Suite-B, Nashville, TN 37211
- Plaza Mariachi — 3995 Nolensville Pk, Nashville, TN 37211
- L'actone Nashville — 3955 Nolensville Pk, Nashville, TN 37211
- Plaza Mariachi — 3955 Nolensville Pk, Nashville, TN 37211
- تسوق — 393 Elysian Fields Ct, Nashville, TN 37211
Frequently Asked Questions
What type of property is this?
Shopping center - 32,900 SF retail shops near Plaza Mariachi for sale.
Where is this shopping center located?
The property is located at 3943-3961 Nolensville Pike Nashville, TN.
What is the asking price?
The asking price for this property is $10,677,000.
What are key features of this property?
This property features: High‑traffic location on Nolensville Road in densely populated South Nashville.; Well‑leased retail space totaling approximately 32,900 SF.; Mixture of locally owned businesses and national brands as tenants.
