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    600 Sherwood Dr Union City, TN 38261

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    For Lease
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    254,295 SF industrial facility on 34 acres for lease.

    Type:INDUSTRIAL
    Property size:
    254,295 SF
    Lot size:
    15.52 Acres
    Added:
    Jan 27, 2026
    Days on Market:
    63
    Last Refresh:
    Mar 25 at 9:28 pm

    Property Features for 600 Sherwood Dr

    General Information

    Standard status
    Active
    Size
    254,295 SF
    Lot size
    15.52 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Luke Herder
    Luke Herder

    Listing agent Luke Herder

    Listing office Phoenix Investors, LLC

    Listing date Jan 27, 2026

    Source Moodyscre

    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 Phoenix Investors, LLC

    Overview

    Union City Industrial Facility

    This industrial facility offers 254,295 square feet of space for lease. Situated on 34 acres of land, the property includes a total of 414,781 square feet, featuring approximately 396,347 square feet of warehouse space, 18,434 square feet of office space, and a 2,200-square-foot breakroom. Constructed in 1985 and renovated as recently as 1995, the building includes 18 dock doors, clear heights up to 28 feet, 2 compressors, and an extensive racking system. The property is zoned for both Planned Industrial and Intermediate Business and is ideally positioned directly on US Highway 51, serving as a convenient midpoint between Nashville, Memphis, and St. Louis.
    Location Intelligence

    Current Use by Public Records

    Mvp Group International ... Corporate Office

    Suggested Use

    Restaurant Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Bar & Pub Storage Facility Discount Store Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Union City
    County
    Obion
    State
    Tennessee
    Longitude
    -89.0479
    Latitude
    36.443

    Nearby Similar for Lease

    • Contact for pricing

      Industrial

      600 Sherwood Dr, Union City, TN 38261
      View Details
    • Contact for pricing

      Reelfoot Shopping Center Retail Space

      Retail space available in a busy, established shopping center.
      1421 S 1st St, Union City, TN 38261
      View Details

    FAQs

    What type of property is this?
    Industrial property - 254,295 SF industrial facility on 34 acres for lease.
    Where is this industrial property located?
    The property is located at 600 Sherwood Dr Union City, TN.
    What are key features of this property?
    This property features: Large industrial facility with **254,295 SF available for lease**.; Strategically located on US Highway 51, a midpoint between Nashville, Memphis, and St. Louis.; Substantial warehouse space of approximately 396,347 SF.
    (414) 244-9575
    We can help!
    Listing Contact
    Luke Herder
    Luke Herder
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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