Flex Showroom and
For Sale
Contact for pricing
629 Myatt Drive, Madison, TN 37115
Flex property combines modern showroom space, professional offices, and warehouse areas with 20-foot clear heights.
Property Size37,000 SF
Lot Size3.44 Acres
Price / SF$135.14
Days on Market77
Property Features for 629 Myatt Drive
General Information
Standard status
Active
Size
37,000 SF
Class
B
Total Parking Spaces
100
Lot size
3.44 Acres
Property subtype
Retail, Office, Industrial
Zoning
CS
Investment Type
Owner/User
Additional Details
Clear Height
20 ft
Building Details
Year Built
1981
Year Renovated
2014
Buildings
1
Listing Agency:
capital corporation
Listed By:
Bryan Chance · License #TN 288775
Source:
Crexi
Added: Jun 22
Changed: Aug 28
Last Checked: Sep 2 at 9:04PM
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 capital corporation
Investment Insights
Based on property information with market context.
This flex space property offers a combination of modern showroom facilities with professional office space and extensive warehouse areas. The warehouse portions provide 20-foot clear heights, supporting a range of light industrial or distribution-related uses where overhead clearance matters.
The asset is situated on a 3.44-acre site in a retail corridor with nearby major retailers including Walmart, Amazon, and Home Depot, along with various restaurants. The configuration provides showroom visibility while maintaining practical warehouse space for operations.
Offered for sale as a 37,000 SF flex building, it is positioned to accommodate businesses seeking both customer-facing showroom space and functional warehouse capacity within the same facility.
The asset is situated on a 3.44-acre site in a retail corridor with nearby major retailers including Walmart, Amazon, and Home Depot, along with various restaurants. The configuration provides showroom visibility while maintaining practical warehouse space for operations.
Offered for sale as a 37,000 SF flex building, it is positioned to accommodate businesses seeking both customer-facing showroom space and functional warehouse capacity within the same facility.
Key Highlights
- 37,000 SF flex space (Year Built 1981) at 629 Myatt Drive in Madison, TN.
- Showroom space with professional office areas.
- Extensive warehouse with 20‑foot clear heights.
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
$226,052
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
4.52%
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%
$4,521,040
$4.5M
Cap Rate 7%
$3,229,314
$3.2M
Cap Rate 9%
$2,511,689
$2.5M
Market Conditions
NOI Build-Up for 37,000 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
$359.6K $9.72/SF
− Vacancy
−$11.9K −$0.32/SF
EGI
$347.8K $9.40/SF
− OpEx
−$121.7K −$3.29/SF
NOI
$226.1K $6.11/SF
Area
Davidson County, TN
Vacancy
3.30%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
35.00%
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%
$4,521,040
Cap Rate 7%
$3,229,314
Cap Rate 9%
$2,511,689
Alternative Uses
Best Use
Warehouse
$44.79M
$39.20M – $52.26M
NOI $3,135,605 @ 7.0% cap · market cap 62.71%
Second Best
Industrial
$37.87M
$33.14M – $44.18M
NOI $2,650,922 @ 7.0% cap · market cap 53.02%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20 ft
Clear height
Location Intelligence
Trade Area within ½ mile
787
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 37115, TN
39,821
Population
19,845
Households
2
Avg Household Size
37
Median Age
23%
College-Educated
82%
High-School Grad
21.5 sq mi
ZIP Area
1,852
Density / Sq Mi
$53,034
Median Household Income
$37,215
Median Earnings
$1,263
Median Rent
$271,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex property combines modern showroom space, professional offices, and warehouse areas with 20-foot clear heights.
Where is this flex space located?
The property is located at 629 Myatt Drive Madison, 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: 37,000 SF flex space (Year Built 1981) at 629 Myatt Drive in Madison, TN.; Showroom space with professional office areas.; Extensive warehouse with 20‑foot clear heights.
