Industrial Flex
For Sale
$3,200,000
533 Myatt Drive, Madison, TN 37115
Heated warehouse with a loading dock paired with executive offices and training space in a 9,700+/- sf facility.
Property Size9,759 SF
Price / SF$327.90
Days on Market169
Property Features for 533 Myatt Drive
General Information
Standard status
Active
Size
9,759 SF
Property subtype
Commercial
Zoning
IWD
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
1
Additional Details
Highway Access
Yes
Building Details
Year Built
1999
Listing Agency:
BENCHMARK REALTY, LLC
(615) 485-9520
Listed By:
Lisa Paulson · License #327716
(615) 485-9520
Source:
Benchmarkrealtytn
Added: Mar 10
Changed: Aug 25
Last Checked: Aug 25 at 9:46AM
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
Investment Insights
Based on property information with market context.
This industrial flex headquarters includes 9,700+/- sf of office/warehouse space with 10 executive offices and training space. The property also features a heated warehouse, a loading dock, and drive-in (indoor) access.
Zoned IWD (Industrial Warehouse Distribution), the site is designed for an organization that needs both administrative space and warehouse operations in one building. It offers easy access to I-65, with approximately 20 minutes to downtown Nashville and about 25 minutes to the airport.
Zoned IWD (Industrial Warehouse Distribution), the site is designed for an organization that needs both administrative space and warehouse operations in one building. It offers easy access to I-65, with approximately 20 minutes to downtown Nashville and about 25 minutes to the airport.
Key Highlights
- 9,700+/- SF office/warehouse facility with heated warehouse space and a loading dock
- 10 executive offices plus training space included in the commercial office/warehouse layout
- Zoned IWD (Industrial Warehouse Distribution)
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
$163,278
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
5.10%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Heated warehouse with a loading dock paired with executive offices and training space in a 9,700+/- sf facility.
Where is this flex space located?
The property is located at 533 Myatt Drive 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: 9,700+/- SF office/warehouse facility with heated warehouse space and a loading dock; 10 executive offices plus training space included in the commercial office/warehouse layout; Zoned IWD (Industrial Warehouse Distribution)
