Building Details

Year Built 1995

Listing Agency: The Realty Association

Listed By: Nona W. Fox Show Phone

Source: Grayfoxrealty

Added: Aug 21 Changed: Oct 6 Last Checked: Oct 7 at 5:37PM

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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.

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 / Yr

$90,698

Cap Rate

6.98%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $90,698 @ 7.0% cap · market cap 6.98%

Second Best

Industrial

$991.8K

$867.9K – $1.16M (±1% cap)

NOI $69,429 @ 7.0% cap · market cap 5.34%

Theoretical Best

Office A

$3.05M

$2.67M – $3.56M (±1% cap)

NOI $213,408 @ 7.0% cap · market cap 16.42%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Industrial properties

Suggested Use

Top Pick Electrical Service Plumbing Service Storage Facility Building Supply Kitchen & Bath Showroom Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this industrial properties located? What is the asking price? Find similar properties What are key features of this property?

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