28,500 SF Office
For Sale
Contact for pricing
7345 Goodlett Farms Pkwy, Cordova, TN 38016
Vacant 28,500 SF office building in a Class B area of Cordova, TN.
Property Size28,500 SF
Price / SF$164.91
Days on Market362
Property Features for 7345 Goodlett Farms Pkwy
General Information
Standard status
Active
Size
28,500 SF
Property subtype
OFFICE
Building Details
Building Size
28,500 SF
Listing Agency:
Braden, Braden & Braden LLC
(901) 881-2070
Listed By:
Curtis Braden · License #TN-284224
(901) 301-3691
Source:
Moodyscre
Added: Sep 19, 2025
Changed: Sep 11
Last Checked: Sep 14 at 12:38PM
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 Braden, Braden & Braden LLC
Investment Insights
Based on property information with market context.
7345 Goodlett Farms is a vacant 28,500 SF office building offered for sale. The property is presented as state-of-the-art office space equipped with modern amenities.
The building is described as being ideally situated in a Class B area of Cordova, TN. The offering highlights value-add potential and the ability to attract a diverse range of tenants seeking quality office space.
This is a straightforward opportunity for an owner or investor looking for an office building with meaningful size and modern amenity positioning in Cordova.
The building is described as being ideally situated in a Class B area of Cordova, TN. The offering highlights value-add potential and the ability to attract a diverse range of tenants seeking quality office space.
This is a straightforward opportunity for an owner or investor looking for an office building with meaningful size and modern amenity positioning in Cordova.
Key Highlights
- Vacant 28,500 SF office building
- 28,500 square feet of office space
- State‑of‑the‑art office building with modern amenities
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
$280,098
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
5.96%
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%
$5,601,960
$5.6M
Cap Rate 7%
$4,001,400
$4.0M
Cap Rate 9%
$3,112,200
$3.1M
Market Conditions
NOI Build-Up for 28,500 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
$478.8K $16.80/SF
− Vacancy
−$105.3K −$3.70/SF
EGI
$373.5K $13.10/SF
− OpEx
−$93.4K −$3.28/SF
NOI
$280.1K $9.83/SF
Area
Shelby County, TN
Vacancy
22.00%
Lease Rate
$16.80 /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%
$5,601,960
Cap Rate 7%
$4,001,400
Cap Rate 9%
$3,112,200
Alternative Uses
Best Use
Office B
$4.00M
$3.50M – $4.67M
NOI $280,098 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.77M
$5.05M – $6.73M
NOI $403,834 @ 7.0% cap · market cap 8.59%
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
121
Businesses Nearby
Explore this area
Business Placement
Demographics for 38016, TN
48,322
Population
20,218
Households
2.4
Avg Household Size
37
Median Age
41%
College-Educated
96%
High-School Grad
18.1 sq mi
ZIP Area
2,670
Density / Sq Mi
$75,719
Median Household Income
$44,713
Median Earnings
$1,407
Median Rent
$261,700
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Vacant 28,500 SF office building in a Class B area of Cordova, TN.
Where is this office building located?
The property is located at 7345 Goodlett Farms Pkwy Cordova, TN.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: Vacant 28,500 SF office building; 28,500 square feet of office space; State‑of‑the‑art office building with modern amenities
