Downtown Columbia Retail
For Sale
$495,000
705 Dunnington St, Columbia, TN 38401
Retail property near Columbia city square with potential business opportunities.
Property Size1,548 SF
Price / SF$319.77
Days on Market479
Property Features for 705 Dunnington St
General Information
Standard status
Active
Size
1,548 SF
Building Details
Year Built
1930
Listing Agency:
EXIT REALTY ELITE
Listed By:
KEL WILLIAMS · License #325074
(615) 373-3948
Source:
Corcoran
Added: May 22, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 EXIT REALTY ELITE
Investment Insights
Based on property information with market context.
This retail property is located near the Columbia city square, adjacent to a historical home. The property offers opportunities for various business ventures, such as a flower shop or coffee shop. The building has a size of 1548 square feet and is located in downtown Columbia, Tennessee.
Key Highlights
- Downtown location
- Close proximity to Columbia city square
- Endless opportunities for business use
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
$26,454
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
5.34%
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%
$529,080
$529.1K
Cap Rate 7%
$377,914
$377.9K
Cap Rate 9%
$293,933
$293.9K
Market Conditions
NOI Build-Up for 1,548 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
$36.8K $23.76/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$35.3K $22.79/SF
− OpEx
−$8.8K −$5.70/SF
NOI
$26.5K $17.09/SF
Area
Maury County, TN
Vacancy
4.10%
Lease Rate
$23.76 /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%
$529,080
Cap Rate 7%
$377,914
Cap Rate 9%
$293,933
Alternative Uses
Best Use
Specialty Retail
$377.9K
$330.7K – $440.9K
NOI $26,454 @ 7.0% cap · market cap 5.34%
Second Best
Retail
$342.0K
$299.3K – $399.1K
NOI $23,943 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$453.8K
$397.1K – $529.4K
NOI $31,765 @ 7.0% cap · market cap 6.42%
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
1,053
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 74%
Dining 26%
SUBWAY
Dining
2,797 visits/mo
0.4 miles
Marathon
Shops & Services
2,292 visits/mo
0.3 miles
Sunoco
Shops & Services
2,142 visits/mo
0.4 miles
H&R Block
Shops & Services
1,420 visits/mo
0.2 miles
Listerhill Credit Union
Shops & Services
1,182 visits/mo
0.5 miles
Demographics for 38401, TN
63,075
Population
28,470
Households
2.2
Avg Household Size
40
Median Age
24%
College-Educated
92%
High-School Grad
296.7 sq mi
ZIP Area
213
Density / Sq Mi
$69,467
Median Household Income
$42,314
Median Earnings
$1,084
Median Rent
$295,200
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 South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Retail property near Columbia city square with potential business opportunities.
Where is this storefront property located?
The property is located at 705 Dunnington St Columbia, TN.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Downtown location; Close proximity to Columbia city square; Endless opportunities for business use
