Renovated Flex and Office
438 Park Ave Lebanon, TN 37087
438 Park Ave, Lebanon, TN, 37087
$599,999
Pending
For Sale
$599,999
Pending
Renovated commercial building with two separate entrances, office amenities, and a wide-open space plus a new exterior metal shop.
Property Size3,229 SF
Days on Market89
Property Features for 438 Park Ave
General Information
- Standard status
- Pending
- Size
- 3,229 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1951
Listing agency
RE/MAX WEST MAIN REALTY
(615) 444-7100
Listed by
ANITA TATE · License #264724
Source
Corcoran
Added: Apr 24 Updated: Jul 21 at 5:30PM Checked: Jul 21 at 5:30PM
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 RE/MAX WEST MAIN REALTY
Investment Insights
Based on property information with market context.
This renovated commercial property is set up for versatile use, with two separate entrances and two distinct interior areas. One side includes a kitchen, four private offices, a spacious conference area, and ample storage with two dedicated storage rooms, supporting a professional office configuration. The opposite side features a wide-open layout with a large bathroom, allowing for flexible expansion and customization based on business needs.
The building is situated on a large, level lot and includes a brand-new exterior metal shop that can support additional storage, workspace, or equipment.
Overall, the layout provides multiple access points and a combination of built-out office improvements and open interior space for prospective tenants or owners seeking adaptability.
The building is situated on a large, level lot and includes a brand-new exterior metal shop that can support additional storage, workspace, or equipment.
Overall, the layout provides multiple access points and a combination of built-out office improvements and open interior space for prospective tenants or owners seeking adaptability.
Key Highlights
- Renovated commercial building built in 1951 with versatile floor plan and modern updates
- Two separate entrances for multiple tenants or private client access
- One side includes a kitchen, four private offices, a spacious conference area, and two dedicated storage rooms
Local Financial Insights For Office B
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 | $85.2k | $26.40 |
| − Vacancy | −$13.2k | −$4.09 |
| EGI | $72.0k | $22.31 |
| − OpEx | −$18.0k | −$5.58 |
| NOI | $54.0k | $16.73 |
3,229 SF · lease $26.40/SF/yr · vacancy 15.50% · expense 25.00%
Alternative Uses
Best Use
Industrial
$3.49M
$3.05M – $4.07M
NOI $244,092 @ 7.0% cap · market cap 40.68%
Second Best
Retail
$1.05M
$923.0K – $1.23M
NOI $73,843 @ 7.0% cap · market cap 12.31%
Theoretical Best
Warehouse
$4.23M
$3.70M – $4.94M
NOI $296,397 @ 7.0% cap · market cap 49.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
True Faith Outreach ...
Church
Similar For Sale Nearby
Similar Off Market Nearby
- Smith Catering — 104 N College St, Lebanon, TN 37087
FAQs
What type of property is this?
Flex space - Renovated commercial building with two separate entrances, office amenities, and a wide-open space plus a new exterior metal shop.
Where is this flex space located?
The property is located at 438 Park Ave Lebanon, TN.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Renovated commercial building built in 1951 with versatile floor plan and modern updates; Two separate entrances for multiple tenants or private client access; One side includes a kitchen, four private offices, a spacious conference area, and two dedicated storage rooms
