Office Units in Industrial
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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 Market13
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.
(615) 397-3138
Listed By:
Robert Stout · License #270038
Source:
Crexi
Added: Aug 18
Changed: Aug 30
Last Checked: Aug 30 at 12:36AM
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 = 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
$80,309
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
5.84%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
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 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
