Mixed-Use Building in Old
521 Old Hickory Blvd Old Hickory, TN 37138
For Sale
$975,000
Three-story commercial property with office, retail, and residential units.
Property Size5,543 SF
Lot Size0.27 Acres
Price / SF$175.90
Days on Market523
Property Features for 521 Old Hickory Blvd
General Information
Standard status
Active
Size
5,543 SF
Lot size
0.27 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1930
Listing Agency:
Keller Williams Realty
(615) 830-6427
Listed By:
Alec Bahmed · License #358430
(615) 830-6427
Source:
Exitrealty
Added: Feb 21, 2025
Changed: Jul 6
Last Checked: May 19 at 10:31PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Located at 521 Old Hickory Boulevard in Tennessee, The Rhodes Building is a well-maintained three-story commercial property featuring a mix of office, retail, and residential space. The building includes a loft and basement, totaling approximately 5,543 SF. It is divided into four commercial units, two residential units, and three additional storage spaces at the rear. Constructed of solid brick, the property offers a strategic location. Old Hickory is a historic community along the Cumberland River with a strong industrial past. The area retains a resilient character, offering investors a stable market with established neighborhoods, proximity to Nashville, and access to major transportation routes. Key landmarks include Andrew Jackson’s Hermitage and the Old Hickory Lock and Dam. Outdoor amenities include parks, boating, and fishing opportunities along the river. The local economy is supported by small businesses, restaurants, and retail shops. The property presents a strong opportunity for real estate investors. Long-term tenants are in place with flexibility to stay or vacate.
Key Highlights
- Diverse income streams with a mix of commercial, residential, and storage units.
- Strategic Old Hickory, TN location, near Nashville and major routes.
- Solid brick construction ensures durability.
Financial Insights For Retail
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 | $99.8k | $18.00 |
| − Vacancy | −$5.0k | −$0.90 |
| EGI | $94.8k | $17.10 |
| − OpEx | −$28.4k | −$5.13 |
| NOI | $66.3k | $11.97 |
5,543 SF · lease $18.00/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Mixed Use
$1.40M
$1.22M – $1.63M
NOI $97,695 @ 7.0% cap · market cap 10.02%
Second Best
Office B
$1.32M
$1.16M – $1.55M
NOI $92,740 @ 7.0% cap · market cap 9.51%
Theoretical Best
Warehouse
$6.71M
$5.87M – $7.83M
NOI $469,748 @ 7.0% cap · market cap 48.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story commercial property with office, retail, and residential units.
Where is this mixed-use property located?
The property is located at 521 Old Hickory Blvd Old Hickory, TN.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Diverse income streams with a mix of commercial, residential, and storage units.; Strategic Old Hickory, TN location, near Nashville and major routes.; Solid brick construction ensures durability.
