Duplex with One-Acre Development
For Sale
$495,000
425 Ezell Pike, Nashville, TN 37217
Duplex on a one-acre lot near Nashville International Airport with CS zoning for flexible residential and commercial use.
Property Size1,700 SF
Lot Size1.00 Acre
Price / SF$291.18
Days on Market51
Property Features for 425 Ezell Pike
General Information
Standard status
Active
Size
1,700 SF
Lot size
1.00 Acre
Property subtype
Commercial
Zoning
CS
Additional Details
Multifamily Units
2
Amenities
Asphalt Roof
Building Details
Year Built
1958
Tenancy
Multi
Listing Agency:
COMPASS RE
(615) 475-5616
Listed By:
HOLLY NEUMAIER
Source:
Corcoran
Added: Jun 21
Changed: Aug 9
Last Checked: Aug 9 at 7:56AM
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 COMPASS RE
Investment Insights
Based on property information with market context.
This duplex sits on a one-acre lot and totals about 1,700 square feet, offering two residential sides that can support a live-in, work-from-home concept or a transition to non-residential use. The property is currently zoned CS (Commercial Services), and it has residential tenants in place. Please do not disturb tenants.
Located at 425 Ezell Pike, the property is moments from Nashville International Airport (BNA). The surrounding area includes examples of neighboring properties converting to high-demand airport-oriented uses, such as airport parking.
For buyers and operators, the combination of a functioning duplex, commercial zoning, and acreage makes this a versatile platform for a range of business directions, subject to confirmation with local zoning authorities. Prospective uses mentioned with the property include transforming the site into retail, financial services, or a hair salon, as well as using the acreage for light manufacturing, small warehouse needs, or self-storage. The provided land use policy notes District Industrial and Conservation, with the possibility of site-specific zoning for small professional or construction office suites. Non-owner occupied short-term rental (NOO STR) potential is also referenced, though all specific uses should be verified locally before proceeding.
Located at 425 Ezell Pike, the property is moments from Nashville International Airport (BNA). The surrounding area includes examples of neighboring properties converting to high-demand airport-oriented uses, such as airport parking.
For buyers and operators, the combination of a functioning duplex, commercial zoning, and acreage makes this a versatile platform for a range of business directions, subject to confirmation with local zoning authorities. Prospective uses mentioned with the property include transforming the site into retail, financial services, or a hair salon, as well as using the acreage for light manufacturing, small warehouse needs, or self-storage. The provided land use policy notes District Industrial and Conservation, with the possibility of site-specific zoning for small professional or construction office suites. Non-owner occupied short-term rental (NOO STR) potential is also referenced, though all specific uses should be verified locally before proceeding.
Key Highlights
- Duplex built in 1958 on a 1‑acre lot near Nashville International Airport (BNA).
- Property is currently zoned CS (Commercial Services) for flexible residential and commercial use.
- Land use policy listed as District Industrial and Conservation.
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
$21,286
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
4.30%
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%
$425,720
$425.7K
Cap Rate 7%
$304,086
$304.1K
Cap Rate 9%
$236,511
$236.5K
Market Conditions
NOI Build-Up for 1,700 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
$35.7K $21.00/SF
− Vacancy
−$7.3K −$4.31/SF
EGI
$28.4K $16.70/SF
− OpEx
−$7.1K −$4.17/SF
NOI
$21.3K $12.52/SF
Area
Nashville, TN
Vacancy
20.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$425,720
Cap Rate 7%
$304,086
Cap Rate 9%
$236,511
Alternative Uses
Best Use
Office B
$304.1K
$266.1K – $354.8K
NOI $21,286 @ 7.0% cap · market cap 4.30%
Second Best
Mixed Use
$295.1K
$258.2K – $344.3K
NOI $20,655 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$432.8K
$378.7K – $504.9K
NOI $30,294 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
Explore this area
Business Placement
Demographics for 37217, TN
33,115
Population
14,168
Households
2.3
Avg Household Size
33
Median Age
32%
College-Educated
82%
High-School Grad
17.8 sq mi
ZIP Area
1,860
Density / Sq Mi
$61,529
Median Household Income
$37,090
Median Earnings
$1,313
Median Rent
$279,400
Median Home Value
Market
Vacancy Rate% for Office in Nashville, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex on a one-acre lot near Nashville International Airport with CS zoning for flexible residential and commercial use.
Where is this duplex located?
The property is located at 425 Ezell Pike Nashville, TN.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Duplex built in 1958 on a 1‑acre lot near Nashville International Airport (BNA).; Property is currently zoned CS (Commercial Services) for flexible residential and commercial use.; Land use policy listed as District Industrial and Conservation.
