Fully Leased Grocery Retail
413 Myatt Drive Madison, TN 37115
413 Myatt Drive, Madison, TN, 37115
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For Sale
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A fully leased retail building plus additional land, offering turnkey occupancy within a dedicated 2.34-acre parcel.
Property Size3,605 SF
Lot Size2.34 Acres
Price / SF$552.01
Days on Market50
Property Features for 413 Myatt Drive
General Information
- Standard status
- Active
- Size
- 3,605 SF
- Lot size
- 2.34 Acres
- Property subtype
- Retail
Listing agency
Havens Commercial
Listed by
Michael Havens · License #TN 327193
Source
Crexi
Added: Jun 2 Updated: Jul 10 at 3:59PM Checked: Jul 20 at 5:16AM
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 Havens Commercial
Investment Insights
Based on property information with market context.
This offering consists of a 3,605 SF retail building configured for grocery and convenience store use. The property is fully leased, providing in-place tenant occupancy, and includes additional land beyond the building footprint.
The asset is located at 413 and 417 Myatt Drive in Madison, TN. It sits on 2.34 acres, offering a defined parcel for the existing structure and the included extra land. The property’s address includes two site locations, reflecting the combined footprint associated with the investment.
For buyers seeking a retail investment with immediate occupancy, this property provides a leased, ready-to-operate grocery and convenience-oriented space together with additional land. Because the building is already leased, prospective owners can focus on the operational fit and lease continuity rather than undertaking new tenant improvements. The combined building and land package may also appeal to buyers looking for more flexibility on the property itself while retaining the convenience of a fully leased retail asset.
The asset is located at 413 and 417 Myatt Drive in Madison, TN. It sits on 2.34 acres, offering a defined parcel for the existing structure and the included extra land. The property’s address includes two site locations, reflecting the combined footprint associated with the investment.
For buyers seeking a retail investment with immediate occupancy, this property provides a leased, ready-to-operate grocery and convenience-oriented space together with additional land. Because the building is already leased, prospective owners can focus on the operational fit and lease continuity rather than undertaking new tenant improvements. The combined building and land package may also appeal to buyers looking for more flexibility on the property itself while retaining the convenience of a fully leased retail asset.
Key Highlights
- Fully leased retail investment property at 413 and 417 Myatt Drive, Madison, TN 37115
- 3,605 SF building on a dedicated 2.34‑acre parcel
- Includes additional land along with the fully leased retail building
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $106.9k | $29.64 |
| − Vacancy | −$3.8k | −$1.07 |
| EGI | $103.0k | $28.57 |
| − OpEx | −$25.8k | −$7.14 |
| NOI | $77.3k | $21.43 |
3,605 SF · lease $29.64/SF/yr · vacancy 3.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.10M
$965.7K – $1.29M
NOI $77,254 @ 7.0% cap · market cap 3.88%
Second Best
Retail
$616.5K
$539.4K – $719.2K
NOI $43,152 @ 7.0% cap · market cap 2.17%
Theoretical Best
Warehouse
$4.36M
$3.82M – $5.09M
NOI $305,510 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
United Super Market
Specialty Food Shop
Cricket Wireless Authorized ...
Mobile Phone Store
United Super Market ...
(Bike/Boat/Book/etc) Store
Similar Off Market Nearby
- United Super Market — 413 Myatt Dr, Madison, TN 37115
FAQs
What type of property is this?
Grocery and convenience store - A fully leased retail building plus additional land, offering turnkey occupancy within a dedicated 2.34-acre parcel.
Where is this grocery and convenience store located?
The property is located at 413 Myatt Drive Madison, TN.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: Fully leased retail investment property at 413 and 417 Myatt Drive, Madison, TN 37115; 3,605 SF building on a dedicated 2.34‑acre parcel; Includes additional land along with the fully leased retail building
