Light Manufacturing
For Sale
Contact for pricing
420 Allied Drive, Nashville, TN 37211
Light manufacturing building with convenient access to Nashville’s downtown and airport areas.
Property Size50,000 SF
Lot Size2.07 Acres
Price / SF$219
Days on Market130
Property Features for 420 Allied Drive
General Information
Standard status
Active
Size
50,000 SF
Lot size
2.07 Acres
Property subtype
Retail, Industrial
Additional Details
Highway Access
Yes
Listing Agency:
Charles Hawkins Co.
Listed By:
Tee Patterson, SIOR · License #320113
Source:
Crexi
Added: Apr 23
Changed: Aug 30
Last Checked: Aug 30 at 7:32AM
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.
The property is a 50,000-square-foot light manufacturing facility positioned on 2.07 acres. Its industrial configuration supports manufacturing operations within an established commercial setting.
Located at 420 Allied Drive in Nashville, the facility is minutes from downtown Nashville and Nashville International Airport. Regional highway access includes proximity to I-24, I-65, and I-440, connecting the property with multiple parts of the Nashville area.
Located at 420 Allied Drive in Nashville, the facility is minutes from downtown Nashville and Nashville International Airport. Regional highway access includes proximity to I-24, I-65, and I-440, connecting the property with multiple parts of the Nashville area.
Key Highlights
- 50,000 SF light manufacturing facility
- Situated on 2.07 acres
- Minutes from downtown Nashville
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
$391,025
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
3.57%
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%
$7,820,500
$7.8M
Cap Rate 7%
$5,586,071
$5.6M
Cap Rate 9%
$4,344,722
$4.3M
Market Conditions
NOI Build-Up for 50,000 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
$478.5K $9.57/SF
− Vacancy
−$18.5K −$0.37/SF
EGI
$460.0K $9.20/SF
− OpEx
−$69.0K −$1.38/SF
NOI
$391.0K $7.82/SF
Area
ZIP 37211
Vacancy
3.86%
Lease Rate
$9.57 /SF/Yr
Expense Ratio
15.00%
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%
$7,820,500
Cap Rate 7%
$5,586,071
Cap Rate 9%
$4,344,722
Alternative Uses
Best Use
Warehouse
$5.59M
$4.89M – $6.52M
NOI $391,025 @ 7.0% cap · market cap 3.57%
Second Best
Industrial
$4.60M
$4.03M – $5.37M
NOI $322,021 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$14.66M
$12.83M – $17.10M
NOI $1,026,000 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
628
Businesses Nearby
Explore this area
Business Placement
Demographics for 37211, TN
81,830
Population
34,650
Households
2.4
Avg Household Size
33
Median Age
43%
College-Educated
86%
High-School Grad
21.7 sq mi
ZIP Area
3,771
Density / Sq Mi
$69,936
Median Household Income
$42,270
Median Earnings
$1,444
Median Rent
$374,200
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?
Manufacturing property - Light manufacturing building with convenient access to Nashville’s downtown and airport areas.
Where is this manufacturing property located?
The property is located at 420 Allied Drive Nashville, TN.
What is the asking price?
The asking price for this property is $10,950,000.
What are key features of this property?
This property features: 50,000 SF light manufacturing facility; Situated on 2.07 acres; Minutes from downtown Nashville
