Corner Office Suite with Two
For Sale
Contact for pricing
501 Long Hollow Pike, Goodlettsville, TN 37072
Office space configured as two separate offices on a high-visibility corner across from major retailers.
Property Size2,969 SF
Days on Market122
Property Features for 501 Long Hollow Pike
General Information
Standard status
Active
Size
2,969 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Office Units
2
Building Details
Building Size
2,969 SF
Year Built
1986
Listing Agency:
RE/MAX Choice Properties
Listed By:
Kathy M. Decker · License #252349
(615) 294-6254
Source:
Thefullerproperties
Added: May 8
Changed: Aug 23
Last Checked: Sep 5 at 4:37AM
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 Choice Properties
Investment Insights
Based on property information with market context.
This office property is currently configured as two separate offices, offering flexibility for a single user or separate professional uses. The space is positioned for prominent visibility along a key intersection.
The property is located at the corner of Long Hollow Pike and Ellen Drive in Goodlettsville, with Publix and Walgreens directly across Long Hollow Pike and Ellen Drive. Interstate access is also nearby, with the property listed as less than a mile to I-65.
For sale, this offering presents a straightforward office layout with a retail-forward location and immediate proximity to well-known anchors across the street.
The property is located at the corner of Long Hollow Pike and Ellen Drive in Goodlettsville, with Publix and Walgreens directly across Long Hollow Pike and Ellen Drive. Interstate access is also nearby, with the property listed as less than a mile to I-65.
For sale, this offering presents a straightforward office layout with a retail-forward location and immediate proximity to well-known anchors across the street.
Key Highlights
- Office space built in 1986, configured as two separate offices
- High‑visibility corner at Long Hollow Pike and Ellen Drive
- Less than a mile to I‑65
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
$49,674
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
3.31%
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%
$993,480
$993.5K
Cap Rate 7%
$709,629
$709.6K
Cap Rate 9%
$551,933
$551.9K
Market Conditions
NOI Build-Up for 2,969 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
$78.4K $26.40/SF
− Vacancy
−$12.1K −$4.09/SF
EGI
$66.2K $22.31/SF
− OpEx
−$16.6K −$5.58/SF
NOI
$49.7K $16.73/SF
Area
Davidson County, TN
Vacancy
15.50%
Lease Rate
$26.40 /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%
$993,480
Cap Rate 7%
$709,629
Cap Rate 9%
$551,933
Alternative Uses
Best Use
Office B
$709.6K
$620.9K – $827.9K
NOI $49,674 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$3.59M
$3.15M – $4.19M
NOI $251,611 @ 7.0% cap · market cap 16.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
Explore this area
Business Placement
Demographics for 37072, TN
33,065
Population
14,377
Households
2.3
Avg Household Size
40
Median Age
28%
College-Educated
89%
High-School Grad
77.5 sq mi
ZIP Area
427
Density / Sq Mi
$75,514
Median Household Income
$44,313
Median Earnings
$1,359
Median Rent
$340,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office space configured as two separate offices on a high-visibility corner across from major retailers.
Where is this office units located?
The property is located at 501 Long Hollow Pike Goodlettsville, TN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Office space built in 1986, configured as two separate offices; High‑visibility corner at Long Hollow Pike and Ellen Drive; Less than a mile to I‑65
