Flexible Brick Office
New
For Sale
$580,000
509 N High St, Columbia, TN 38401
Brick commercial building with an adaptable front area, private offices, storage, and a dedicated restroom.
Property Size4,150 SF
Price / SF$139.76
Days on Market2
Property Features for 509 N High St
General Information
Standard status
Active
Size
4,150 SF
Property subtype
Commercial
Amenities
Shingle Roof
Building Details
Year Built
1960
Buildings
1
Building Size
4,150 SF
Construction
brick
Listing Agency:
EXP REALTY
(888) 519-5113
Listed By:
FHONDA HATMAKER · License #348561
(931) 409-2628
Source:
Corcoran
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 2:29AM
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 EXP REALTY
Investment Insights
Based on property information with market context.
Located at 509 N High St in Columbia, Tennessee, this 4,150-square-foot office building was constructed in 1960 with brick exterior walls and a Prestress Concrete Built-Up Composition roof. The interior includes an open front room, three private offices, a storage room, and a bathroom, providing a practical configuration for professional or client-facing operations.
Two adjacent commercial lots are also available for purchase under MLS #s 3012070 and 3012058. Their availability creates a direct opportunity to consider additional land alongside the office property for expanded commercial use, parking, or future development. The property is positioned within Columbia’s business corridor and offers an established building format with multiple enclosed office areas and flexible front-space functionality.
Two adjacent commercial lots are also available for purchase under MLS #s 3012070 and 3012058. Their availability creates a direct opportunity to consider additional land alongside the office property for expanded commercial use, parking, or future development. The property is positioned within Columbia’s business corridor and offers an established building format with multiple enclosed office areas and flexible front-space functionality.
Key Highlights
- 4,150‑square‑foot office building at 509 N High St, Columbia, TN 38401
- Brick construction with a Prestress Concrete Built‑Up Composition roof
- Open front room plus three private offices
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
$24,357
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
4.20%
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%
$487,140
$487.1K
Cap Rate 7%
$347,957
$348.0K
Cap Rate 9%
$270,633
$270.6K
Market Conditions
NOI Build-Up for 4,150 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
$42.3K $10.20/SF
− Vacancy
−$1.7K −$0.42/SF
EGI
$40.6K $9.78/SF
− OpEx
−$16.2K −$3.91/SF
NOI
$24.4K $5.87/SF
Area
Maury County, TN
Vacancy
4.10%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
40.00%
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%
$487,140
Cap Rate 7%
$347,957
Cap Rate 9%
$270,633
Alternative Uses
Best Use
Office B
$991.9K
$867.9K – $1.16M
NOI $69,434 @ 7.0% cap · market cap 11.97%
Second Best
Healthcare Medical
$348.0K
$304.5K – $406.0K
NOI $24,357 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,158 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,074
Businesses Nearby
Explore this area
Business Placement
Demographics for 38401, TN
63,075
Population
28,470
Households
2.2
Avg Household Size
40
Median Age
24%
College-Educated
92%
High-School Grad
296.7 sq mi
ZIP Area
213
Density / Sq Mi
$69,467
Median Household Income
$42,314
Median Earnings
$1,084
Median Rent
$295,200
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 building - Brick commercial building with an adaptable front area, private offices, storage, and a dedicated restroom.
Where is this office building located?
The property is located at 509 N High St Columbia, TN.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: 4,150‑square‑foot office building at 509 N High St, Columbia, TN 38401; Brick construction with a Prestress Concrete Built‑Up Composition roof; Open front room plus three private offices
