Historic Property with Flexible
5830 Highway 231 South Castalian Springs, TN 37031
5830 Highway 231 South, Castalian Springs, TN, 37031
$3,289,000
For Sale
$3,289,000
Unique property in Castalian Springs with retail, warehouse, and event potential.
Property Size30,625 SF
Price / SF$107.40
Days on Market186
Property Features for 5830 Highway 231 South
General Information
- Standard status
- Active
- Size
- 30,625 SF
- Property subtype
- Commercial Sale / Mixed Use
Building Details
- Year Built
- 2002
Listing Agency
RE/MAX Choice Properties
(615) 973-3914
Listed by
GWEN DOWLAND · License #244049
(615) 973-3914
Source
Compass
Added: Jan 12 Checked: Jul 16 at 7:51 am
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 RE/MAX Choice Properties
Investment Insights
Based on property information with market context.
This historic property in Castalian Springs, Tennessee, offers a buyer's opportunity with a uniquely designed building providing flexible space suitable for retail, shopping, food service, or event venue rental, as well as warehouse space. The property is situated in a fenced farm setting with rolling land and features covered parking or outdoor seating areas. Located at the crossroads of Highway 25 and Highway 231, the site has 394 feet of road frontage and a gated entrance, with room to expand parking and delivery access. It is located near Old Hickory Lake and the Cumberland River. The property is sixteen minutes from downtown Lebanon and Gallatin, and 45 minutes from BNA airport. The property size is 30,625 square feet.
Key Highlights
- Prime location at the crossroads of Hwy 25 and Hwy 231, offering high visibility and accessibility.
- Flexible space suitable for retail, shopping, food, event venue rental, or warehouse use.
- Sprawling property with fenced farm setting, rolling land, and gated entrance.
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $298.6k | $9.75 |
| − Vacancy | −$9.3k | −$0.30 |
| EGI | $289.3k | $9.45 |
| − OpEx | −$43.4k | −$1.42 |
| NOI | $245.9k | $8.03 |
30,625 SF · lease $9.75/SF/yr · vacancy 3.10% · expense 15.00%
Alternative Uses
Best Use
Specialty Retail
$10.72M
$9.38M – $12.51M
NOI $750,378 @ 7.0% cap · market cap 22.81%
Second Best
Retail
$9.98M
$8.74M – $11.65M
NOI $698,897 @ 7.0% cap · market cap 21.25%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Mixed-use property - Unique property in Castalian Springs with retail, warehouse, and event potential.
Where is this mixed-use property located?
The property is located at 5830 Highway 231 South Castalian Springs, TN.
What is the asking price?
The asking price for this property is $3,289,000.
What are key features of this property?
This property features: Prime location at the crossroads of Hwy 25 and Hwy 231, offering high visibility and accessibility.; Flexible space suitable for retail, shopping, food, event venue rental, or warehouse use.; Sprawling property with fenced farm setting, rolling land, and gated entrance.
