Industrial Property With Two
New
For Sale
$1,299,900
7156 New Hope Rd, Fairview, TN 37062
Two adjoining commercial tracts offer a combined industrial property near I-40.
Property Size10,400 SF
Lot Size2.03 Acres
Price / SF$124.99
Days on Market6
Property Features for 7156 New Hope Rd
General Information
Standard status
Active
Size
10,400 SF
Lot size
2.03 Acres
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Land Use
industrial, commercial
Amenities
Aluminum Roof
Building Details
Year Built
1995
Listing Agency:
THE REALTY ASSOCIATION
(615) 385-9010
Listed By:
NONA W. FOX
Source:
Corcoran
Added: Aug 18
Changed: Aug 22
Last Checked: Aug 23 at 7:20AM
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 THE REALTY ASSOCIATION
Investment Insights
Based on property information with market context.
This offering combines two commercial tracts totaling 2.03 acres at 7156 and 7158 New Hope Road. The parcels are being offered together and are identified as industrial commercial property, with a 1995 year built associated with the listing.
The property is situated near I-40 in Fairview, Tennessee. Certain inventory may also be available for separate purchase from the real property, providing an additional component to evaluate alongside the land acquisition.
The property is situated near I-40 in Fairview, Tennessee. Certain inventory may also be available for separate purchase from the real property, providing an additional component to evaluate alongside the land acquisition.
Key Highlights
- Two commercial tracts offered together at 7156 and 7158 New Hope Road
- Combined land area of 2.03 acres
- Individual tracts measure 1.03 acre and 1 acre
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
$90,698
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
6.98%
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%
$1,813,960
$1.8M
Cap Rate 7%
$1,295,686
$1.3M
Cap Rate 9%
$1,007,756
$1.0M
Market Conditions
NOI Build-Up for 10,400 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
$112.3K $10.80/SF
− Vacancy
−$5.6K −$0.54/SF
EGI
$106.7K $10.26/SF
− OpEx
−$16.0K −$1.54/SF
NOI
$90.7K $8.72/SF
Area
Williamson County, TN
Vacancy
5.00%
Lease Rate
$10.80 /SF/Yr
Expense Ratio
15.00%
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%
$1,813,960
Cap Rate 7%
$1,295,686
Cap Rate 9%
$1,007,756
Alternative Uses
Best Use
Warehouse
$1.30M
$1.13M – $1.51M
NOI $90,698 @ 7.0% cap · market cap 6.98%
Second Best
Industrial
$991.8K
$867.9K – $1.16M
NOI $69,429 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$3.05M
$2.67M – $3.56M
NOI $213,408 @ 7.0% cap · market cap 16.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
Explore this area
Business Placement
Demographics for 37062, TN
12,710
Population
4,962
Households
2.6
Avg Household Size
39
Median Age
36%
College-Educated
94%
High-School Grad
69.2 sq mi
ZIP Area
184
Density / Sq Mi
$87,598
Median Household Income
$50,140
Median Earnings
$1,302
Median Rent
$344,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Industrial property - Two adjoining commercial tracts offer a combined industrial property near I-40.
Where is this industrial property located?
The property is located at 7156 New Hope Rd Fairview, TN.
What is the asking price?
The asking price for this property is $1,299,900.
What are key features of this property?
This property features: Two commercial tracts offered together at 7156 and 7158 New Hope Road; Combined land area of 2.03 acres; Individual tracts measure 1.03 acre and 1 acre
