Building Details

Building Size 2,725 SF

Year Built 2007

Tenancy Multi

Listing Agency: Vitality Realty

Listed By: Diana Brackin Show Phone

Source: Evrealestate

Added: Mar 17 Changed: Oct 10 Last Checked: Oct 16 at 8:17AM

Report an Issue

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 Vitality Realty

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This mixed-use commercial property contains two separate units totaling 2,725 sq ft, with approximately 1,475 sq ft in the larger unit and approximately 1,250 sq ft in the second. Both spaces have been remodeled with new carpet, dropped ceilings, and fresh paint. Each unit includes a bathroom and maintenance closet, while the larger unit also provides dedicated office space.

The property is part of an established mixed-use development surrounded by residential and commercial activity. Its configuration supports separate occupancy or use by a single owner, and the seller will consider selling the units individually. Buyer or tenant verification is required for permitted uses.

Key Highlights

• Two separate commercial units totaling 2,725 sq ft
• Approximately 1,475 sq ft larger unit with dedicated office space
• Approximately 1,250 sq ft second unit

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$48,028

Cap Rate

7.09%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$960,560 $960.6K

Cap Rate 7%

$686,114 $686.1K

Cap Rate 9%

$533,644 $533.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,725 SF

Gross rent

$81.8K $30.00/SF

− Vacancy

−$4.9K −$1.80/SF

EGI

$76.8K $28.20/SF

− OpEx

−$28.8K −$10.58/SF

NOI

$48.0K $17.63/SF

Area

Davidson County, TN

Vacancy

6.00%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$960,560

Cap Rate 7%

$686,114

Cap Rate 9%

$533,644

Alternative Uses

Best Use

Mixed Use

$686.1K

$600.4K – $800.5K (±1% cap)

NOI $48,028 @ 7.0% cap · market cap 7.09%

Second Best

Office B

$651.3K

$569.9K – $759.9K (±1% cap)

NOI $45,592 @ 7.0% cap · market cap 6.73%

Theoretical Best

Warehouse

$3.30M

$2.89M – $3.85M (±1% cap)

NOI $230,933 @ 7.0% cap · market cap 34.07%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

F. Michie Gibson, ... Law Firm Gibson & Jones Law Firm T. J. Jones, ... Law Firm

Suggested Use

Top Pick Building Supply Law Firm Big Box & Wholesale Store Real Estate Agency Auto Repair Shop Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

408

Businesses Nearby

Explore this area Business Placement

Demographics for 37138, TN

23,631

Population

9,905

Households

2.4

Avg Household Size

43

Median Age

40%

College-Educated

94%

High-School Grad

17.9 sq mi

ZIP Area

1,320

Density / Sq Mi

$87,450

Median Household Income

$54,738

Median Earnings

$1,427

Median Rent

$347,500

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

Similar For Sale Nearby

See more

Mixed-Use Building in Old Hickory

521 Old Hickory Blvd, Old Hickory, TN 37138

$975,000

5,543 SF

View details

Renovated Specialty Property

101 Matterhorn Dr, Old Hickory, TN 37138

Contact for pricing

1,657 SF

View details

Frequently Asked Questions

What type of property is this?

Mixed-use property - Remodeled commercial property offers flexible space for retail, office, service, or professional business uses.

Where is this mixed-use property located?

The property is located at 4979 Lebanon Pike Old Hickory, TN.

What is the asking price?

The asking price for this property is $677,850.

What are key features of this property?

This property features: Two separate commercial units totaling 2,725 sq ft; Approximately 1,475 sq ft larger unit with dedicated office space; Approximately 1,250 sq ft second unit