Building Details

Year built 1992

Building materials Frame, Steel Siding, Metal Siding

Roof type Metal

Listing Agency: Horseman Real Estate, Llc Show Phone

Listed By: Hannah Horseman · License #297619 Show Phone

Added: Jul 10 Changed: Sep 13 Last Checked: Oct 10 at 2:06AM

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MLS# 242024

Copyright © 2026 Upper Cumberland Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This automotive service property includes a 1,936-square-foot steel-frame building on 0.85 acres. The structure has metal siding, a metal roof, full insulation, a front and side entry layout, and three overhead doors measuring 14 feet high by 12 feet wide. Interior features include an office with its own entrance, a restroom with shower, floor drains, a service pit, shop lighting, and an 8 x 21-foot storage loft. A wood-burning stove and a hot water heater installed 2 years ago remain with the property.

The site fronts SR 56N in a high-traffic area between Baxter and Gainesboro, with access to I-40 and Gainesboro Grade. Parking is available behind the building. Natural gas is available, and water sources include spring and public water. The property was built in 1992 and is zoned UNR.

Key Highlights

• 1,936‑square‑foot automotive service building on 0.85 acres
• Three overhead doors, each 14 feet high and 12 feet wide
• Frontage on SR 56N between Baxter and Gainesboro

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$12,710

Cap Rate

6.52%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$254,200 $254.2K

Cap Rate 7%

$181,571 $181.6K

Cap Rate 9%

$141,222 $141.2K

Market Conditions

NOI Build-Up for 1,936 SF

Gross rent

$19.0K $9.81/SF

− Vacancy

−$836 −$0.43/SF

EGI

$18.2K $9.38/SF

− OpEx

−$5.4K −$2.81/SF

NOI

$12.7K $6.56/SF

Area

Putnam County, TN

Vacancy

4.40%

Lease Rate

$9.81 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$254,200

Cap Rate 7%

$181,571

Cap Rate 9%

$141,222

Alternative Uses

Best Use

Retail

$432.7K

$378.6K – $504.8K (±1% cap)

NOI $30,287 @ 7.0% cap · market cap 15.53%

Second Best

Industrial

$181.6K

$158.9K – $211.8K (±1% cap)

NOI $12,710 @ 7.0% cap · market cap 6.52%

Theoretical Best

Office A

$799.0K

$699.2K – $932.2K (±1% cap)

NOI $55,932 @ 7.0% cap · market cap 28.68%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Open Analytics

Current Use

Auto shops

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Auto Repair Shop Carpet & Flooring Store Kitchen & Bath Showroom Travel Agency

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

13

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 38545, TN

1,403

Population

755

Households

1.9

Avg Household Size

47

Median Age

18%

College-Educated

89%

High-School Grad

23.0 sq mi

ZIP Area

61

Density / Sq Mi

$59,375

Median Household Income

$38,824

Median Earnings

$851

Median Rent

$104,600

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this auto shops located? What is the asking price? Find similar properties What are key features of this property?

Similar Off Market Nearby

• Red beards cycle & repair — 5542 S Grundy Quarles Hwy, Bloomington Springs, TN 38545
• Retallack Rod Shop — 3793 Old Gainesboro Rd, Bloomington Springs, TN 38545

Frequently Asked Questions

What type of property is this?

Auto shop - Steel-framed service facility with separate office and shop entrances, storage loft, and a service pit.

Where is this auto shop located?

The property is located at 5404 S Grundy Quarles Hwy Bloomington Springs, TN.

What is the asking price?

The asking price for this property is $195,000.

What are key features of this property?

This property features: 1,936‑square‑foot automotive service building on 0.85 acres; Three overhead doors, each 14 feet high and 12 feet wide; Frontage on SR 56N between Baxter and Gainesboro