Renovated Commercial Office/Warehouse
533 Myatt Dr, Madison, TN 37115
For Sale
$3,200,000
Commercial office and warehouse space with recent renovations and upgrades.
Property Size9,759 SF
Price / SF$327.90
Days on Market288
Property Features for 533 Myatt Dr
General Information
Standard status
Size
Building Details
Year Built
Listing Agency:
Benchmark Realty, LLC
Listed By:
Lisa Paulson · License #327716
(615) 485-9520
Source:
Fykesrealtygroup
Added: Jan 26
Changed: Oct 25
Last Checked: Oct 7 at 2:24PM
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 Benchmark Realty, LLC
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Investment Insights
Based on property information with market context.
Located in a high-traffic area, this corner lot offers 232 feet of road frontage and features 9,700+/- square feet of commercial office and warehouse space. The property is zoned IWD (Industrial Warehouse Distribution) and provides easy access to I-65, placing it 20 minutes from downtown Nashville and 25 minutes from the airport. The surrounding area includes retail outlets, restaurants, and a police precinct. The recently renovated space includes exterior paint, new metal canopies, and landscaped grounds. Parking is available for employees and customers, with 26+ spaces and 2 handicap spaces. The interior features 4,500+/- square feet of office space and a training area, along with 10 private offices, some equipped with individual supply/return systems. Security is enhanced by existing cameras and a new fire and security system, with ethernet and wireless throughout the facility. The breakroom is plumbed for a sink, refrigerator, dishwasher, and range. The property includes approximately 5,200 square feet of heated warehouse/storage space, equipped with 13 new LED lights, one loading dock with a manual door, and one drive-in door with a heavy-duty garage door opener. An extension in the warehouse has a climate-controlled addition with zoom-capable cameras. High ceilings allow for expansion. Madison is experiencing rapid growth and high traffic counts.
Key Highlights
- Prime location on a high‑traffic corner lot with 232 feet of road frontage offers exceptional accessibility.
- Zoned IWD (Industrial Warehouse Distribution) with 9,700+\/- sf of recently renovated commercial office/warehouse space.
- Easy access to I‑65, located just 20 minutes to downtown Nashville, and 25 minutes to the airport.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$163,278
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,265,560
$3.3M
Cap Rate 7%
$2,332,543
$2.3M
Cap Rate 9%
$1,814,200
$1.8M
Market Conditions
NOI Build-Up for 9,759 SF
Gross rent
$257.6K $26.40/SF
− Vacancy
−$39.9K −$4.09/SF
EGI
$217.7K $22.31/SF
− OpEx
−$54.4K −$5.58/SF
NOI
$163.3K $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 Rate 5%
$3,265,560
Cap Rate 7%
$2,332,543
Cap Rate 9%
$1,814,200
Alternative Uses
Best Use
Warehouse
$11.81M
$10.34M – $13.78M
NOI $827,037 @ 7.0% cap · market cap 25.84%
Second Best
Industrial
$9.99M
$8.74M – $11.65M
NOI $699,199 @ 7.0% cap · market cap 21.85%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 37115, TN
39,821
Population
19,845
Households
2
Avg Household Size
37
Median Age
23%
College-Educated
82%
High-School Grad
21.5 sq mi
ZIP Area
1,852
Density / Sq Mi
$53,034
Median Household Income
$37,215
Median Earnings
$1,263
Median Rent
$271,100
Median Home Value
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Market
Average Price Trend$/SF for Flex space in Davidson County, TN
Properties on Market for Flex space in Davidson County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Flex space - Commercial office and warehouse space with recent renovations and upgrades.
Where is this flex space located?
The property is located at 533 Myatt Dr Madison, TN.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Prime location on a high‑traffic corner lot with 232 feet of road frontage offers exceptional accessibility.; Zoned IWD (Industrial Warehouse Distribution) with 9,700+\/- sf of recently renovated commercial office/warehouse space.; Easy access to I‑65, located just 20 minutes to downtown Nashville, and 25 minutes to the airport.
