Modern Mixed-Use Building in
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6117 Centennial Blvd, Nashville, TN 37209
8,354 SF mixed-use property in Nashville's thriving Nations neighborhood.
Property Size8,354 SF
Price / SF$400
Days on Market161
Property Features for 6117 Centennial Blvd
General Information
Standard status
Active
Size
8,354 SF
Property subtype
Office, Retail
Zoning
MUL-A
Occupancy
21%
Lease Type
NNN
Investment Type
Owner/User
Net Operating Income
$63,835
Building Details
Year Built
2019
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Stride Commercial Real Estate
Listed By:
Matt Cooper · License #267123
Source:
Crexi
Added: Mar 16
Changed: Aug 8
Last Checked: Aug 22 at 9:15AM
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 Stride Commercial Real Estate
Investment Insights
Based on property information with market context.
Located in The Nations, a thriving Nashville neighborhood, 6117 CENTENNIAL BLVD is a modern, two-story property featuring 8,354 square feet. The building offers 5,766 square feet of available office and retail space across two levels. The property is move-in ready and includes contemporary finishes, large windows, and a rooftop patio. The location's MUL-A zoning permits versatile use, from offices to restaurants. The property benefits from strong street frontage and prominent building signage on Centennial Blvd, surrounded by a vibrant mix of eateries, shops, and creative businesses. The property is suitable for investors and owner-occupiers looking for income potential in a high-growth area. Partial income is generated from current tenants on the first floor. Immediate availability makes 6117 Centennial Blvd. an attractive investment or leasing opportunity in Nashville’s dynamic market.
Key Highlights
- Prime location in The Nations, a rapidly growing Nashville neighborhood.
- Versatile MUL‑A zoning allows for a wide range of uses (office, retail, restaurant).
- Move‑in ready, modern building with contemporary finishes and large windows.
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
$111,651
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
3.34%
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%
$2,233,020
$2.2M
Cap Rate 7%
$1,595,014
$1.6M
Cap Rate 9%
$1,240,567
$1.2M
Market Conditions
NOI Build-Up for 8,354 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
$180.4K $21.60/SF
− Vacancy
−$31.6K −$3.78/SF
EGI
$148.9K $17.82/SF
− OpEx
−$37.2K −$4.46/SF
NOI
$111.7K $13.37/SF
Area
ZIP 37209
Vacancy
17.50%
Lease Rate
$21.60 /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%
$2,233,020
Cap Rate 7%
$1,595,014
Cap Rate 9%
$1,240,567
Alternative Uses
Best Use
Office B
$1.60M
$1.40M – $1.86M
NOI $111,651 @ 7.0% cap · market cap 3.34%
Second Best
Retail
$1.38M
$1.20M – $1.61M
NOI $96,313 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$2.16M
$1.89M – $2.51M
NOI $150,853 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
271
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in Nashville, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 8,354 SF mixed-use property in Nashville's thriving Nations neighborhood.
Where is this mixed-use property located?
The property is located at 6117 Centennial Blvd Nashville, TN.
What is the asking price?
The asking price for this property is $3,341,600.
What are key features of this property?
This property features: Prime location in The Nations, a rapidly growing Nashville neighborhood.; Versatile MUL‑A zoning allows for a wide range of uses (office, retail, restaurant).; Move‑in ready, modern building with contemporary finishes and large windows.
