Office Units in Industrial
For Sale
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535 Myatt Drive, Madison, TN 37115
Office property with IR zoning and regional highway access in Madison’s Rivergate business corridor.
Property Size4,800 SF
Price / SF$286.46
Days on Market59
Property Features for 535 Myatt Drive
General Information
Standard status
Active
Size
4,800 SF
Total Parking Spaces
16
Property subtype
Office
Zoning
Industrial Restrictive
Building Details
Year Built
2005
Listing Agency:
Charles Hawkins Co.
Listed By:
Robert Stout · License #270038
(615) 397-3138
Source:
Crexi
Added: Aug 18
Changed: Oct 7
Last Checked: Oct 14 at 11:47PM
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 Charles Hawkins Co.
Investment Insights
Based on property information with market context.
This 4,800-square-foot office property was built in 2005 and is located within Rivergate Industrial Park. The site carries IR, or Industrial Restrictive, zoning and sits in the Myatt Drive business corridor, north of downtown Nashville.
Regional access includes I-65, Briley Parkway, I-24, and major north Nashville arterials. The location serves Madison, Goodlettsville, Hendersonville, Nashville, and surrounding Middle Tennessee markets.
Regional access includes I-65, Briley Parkway, I-24, and major north Nashville arterials. The location serves Madison, Goodlettsville, Hendersonville, Nashville, and surrounding Middle Tennessee markets.
Key Highlights
- 4,800‑square‑foot office property built in 2005
- Located within Rivergate Industrial Park
- IR (Industrial Restrictive) zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,309
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,606,180
$1.6M
Cap Rate 7%
$1,147,271
$1.1M
Cap Rate 9%
$892,322
$892.3K
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$126.7K $26.40/SF
− Vacancy
−$19.6K −$4.09/SF
EGI
$107.1K $22.31/SF
− OpEx
−$26.8K −$5.58/SF
NOI
$80.3K $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%
$1,606,180
Cap Rate 7%
$1,147,271
Cap Rate 9%
$892,322
Alternative Uses
Best Use
Industrial
$4.91M
$4.30M – $5.73M
NOI $343,903 @ 7.0% cap · market cap 25.01%
Second Best
Office B
$1.15M
$1.00M – $1.34M
NOI $80,309 @ 7.0% cap · market cap 5.84%
Theoretical Best
Warehouse
$5.81M
$5.08M – $6.78M
NOI $406,781 @ 7.0% cap · market cap 29.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Office property with IR zoning and regional highway access in Madison’s Rivergate business corridor.
Where is this office units located?
The property is located at 535 Myatt Drive Madison, TN.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: 4,800‑square‑foot office property built in 2005; Located within Rivergate Industrial Park; IR (Industrial Restrictive) zoning
