Historic Mixed-Use
400 Hazelwood Dr, Smyrna, TN 37167
For Sale
$675,000
Approved upstairs residential space includes two bedrooms and a full bath.
Property Size1,769 SF
Price / SF$381.57
Days on Market22
Property Features for 400 Hazelwood Dr
General Information
Standard status
Size
Zoning
Building Details
Year Built
Listing Agency:
Reliant Realty ERA Powered
Listed By:
Whitney Burton
(615) 225-7486
Source:
Searchtnhomesforsale
Added: Oct 19
Changed: Nov 8
Last Checked: Nov 8 at 6:54AM
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 Reliant Realty ERA Powered
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Investment Insights
Based on property information with market context.
Built in 1928, this mixed-use property has two bedrooms and a full bathroom on the upper level, where residential use is approved. The double lot offers additional land area, with any expansion or other uses subject to applicable approvals.
The property is within walking distance of Smyrna’s historic Front Street. It is zoned PUD, with C-4 district uses permitted as stated in the city zoning verification letter.
The property is within walking distance of Smyrna’s historic Front Street. It is zoned PUD, with C-4 district uses permitted as stated in the city zoning verification letter.
Key Highlights
- 1928 construction
- Two upstairs bedrooms and a full bath; residential use is approved
- Double lot; future expansion or additional uses require applicable approvals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,582
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$671,640
$671.6K
Cap Rate 7%
$479,743
$479.7K
Cap Rate 9%
$373,133
$373.1K
Market Conditions
NOI Build-Up for 1,769 SF
Gross rent
$56.7K $32.04/SF
− Vacancy
−$2.9K −$1.67/SF
EGI
$53.7K $30.37/SF
− OpEx
−$20.1K −$11.39/SF
NOI
$33.6K $18.98/SF
Area
Rutherford County, TN
Vacancy
5.20%
Lease Rate
$32.04 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$671,640
Cap Rate 7%
$479,743
Cap Rate 9%
$373,133
Alternative Uses
Best Use
Mixed Use
$479.7K
$419.8K – $559.7K
NOI $33,582 @ 7.0% cap · market cap 4.98%
Second Best
Office B
$341.8K
$299.1K – $398.8K
NOI $23,929 @ 7.0% cap · market cap 3.55%
Theoretical Best
Specialty Retail
$611.4K
$535.0K – $713.3K
NOI $42,796 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
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Business Placement
Demographics for 37167, TN
61,731
Population
23,694
Households
2.6
Avg Household Size
36
Median Age
28%
College-Educated
90%
High-School Grad
55.0 sq mi
ZIP Area
1,122
Density / Sq Mi
$79,720
Median Household Income
$42,705
Median Earnings
$1,359
Median Rent
$330,600
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Approved upstairs residential space includes two bedrooms and a full bath.
Where is this mixed-use property located?
The property is located at 400 Hazelwood Dr Smyrna, TN.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 1928 construction; Two upstairs bedrooms and a full bath; residential use is approved; Double lot; future expansion or additional uses require applicable approvals
