Established Strip Mall For
For Sale
$5,000,000
5911 Charlotte Pike, Nashville, TN 37209
High-traffic location with excellent income potential.
Property Size32,319 SF
Lot Size0.74 Acres
Price / SF$154.71
Days on Market549
Property Features for 5911 Charlotte Pike
General Information
Standard status
Active
Size
32,319 SF
Lot size
0.74 Acres
Property subtype
Commercial
Building Details
Year Built
2008
Listing Agency:
NETWORK PROPERTIES, LLC
(615) 590-4209
Listed By:
MICHAEL HASTINGS, BROKER, CRS, CDPE, ABR
(615) 403-1008
Source:
Corcoran
Added: Apr 2, 2025
Changed: Sep 30
Last Checked: Oct 1 at 11:25AM
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 NETWORK PROPERTIES, LLC
Investment Insights
Based on property information with market context.
This commercial property is an established strip mall offering income potential. It is situated in a visible area with access to the interstate, which ensures foot traffic and business growth. The sale includes Parcel ID 091-13-0-353.00. The property size is 32319 square feet.
Key Highlights
- High‑traffic location ensures strong foot traffic and business growth.
- Established strip mall with excellent income potential.
- Easy access to the interstate.
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
$372,606
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
7.45%
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%
$7,452,120
$7.5M
Cap Rate 7%
$5,322,943
$5.3M
Cap Rate 9%
$4,140,067
$4.1M
Market Conditions
NOI Build-Up for 32,319 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
$581.7K $18.00/SF
− Vacancy
−$49.4K −$1.53/SF
EGI
$532.3K $16.47/SF
− OpEx
−$159.7K −$4.94/SF
NOI
$372.6K $11.53/SF
Area
ZIP 37209
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$7,452,120
Cap Rate 7%
$5,322,943
Cap Rate 9%
$4,140,067
Alternative Uses
Best Use
Retail
$5.32M
$4.66M – $6.21M
NOI $372,606 @ 7.0% cap · market cap 7.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.34M
$7.30M – $9.73M
NOI $583,604 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
784
Businesses Nearby
187k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Dining 28%
Groceries 20%
Hotels & Casinos 3%
Kroger
Groceries
37,263 visits/mo
0.1 miles
7-Eleven
Shops & Services
16,710 visits/mo
0.3 miles
Cook Out
Dining
13,895 visits/mo
0.2 miles
Dollar Tree
Shops & Services
13,557 visits/mo
0.4 miles
Kroger Fuel Center
Shops & Services
13,435 visits/mo
0.2 miles
Demographics for 37209, TN
40,498
Population
21,421
Households
1.9
Avg Household Size
32
Median Age
57%
College-Educated
92%
High-School Grad
33.6 sq mi
ZIP Area
1,205
Density / Sq Mi
$75,810
Median Household Income
$48,965
Median Earnings
$1,580
Median Rent
$495,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Nashville, TN
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Frequently Asked Questions
What type of property is this?
Shopping center - High-traffic location with excellent income potential.
Where is this shopping center located?
The property is located at 5911 Charlotte Pike Nashville, TN.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: High‑traffic location ensures strong foot traffic and business growth.; Established strip mall with excellent income potential.; Easy access to the interstate.
