Mixed-Use Office
New
For Sale
$524,900
738 Nissan Dr, Smyrna, TN 37167
C2-zoned commercial property with office space, a detached building, and an existing tenant in place.
Property Size1,425 SF
Lot Size0.38 Acres
Price / SF$368.35
Days on Market3
Property Features for 738 Nissan Dr
General Information
Standard status
Active
Size
1,425 SF
Lot size
0.38 Acres
Property subtype
Commercial
Zoning
C2
Site & Location
Road Frontage
95.7 ft
Traffic Count
27,188 vehicles/day
Road Access
Yes
Additional Details
Gross Income
$24,000
Land Use
mixed-use, professional office
Amenities
kitchen/break room
Asphalt Roof
Building Details
Year Built
1980
Buildings
2
Tenancy
Multi
Listing Agency:
RELIANT REALTY ERA POWERED
(615) 859-7150
Listed By:
AMANDA ACKERMAN
Source:
Corcoran
Added: Aug 29
Changed: Aug 31
Last Checked: Aug 31 at 9:36AM
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 RELIANT REALTY ERA POWERED
Investment Insights
Based on property information with market context.
This mixed-use office property includes 1,425 square feet of space, a full working kitchen with appliances, and a break room. A portion of the building is leased, while the remaining office area is available for continued leasing or owner occupancy. The property also includes a 400-square-foot detached building with heating, cooling, and electric service. A new roof has been installed.
The site contains 0.38 acre and offers 95.7 feet of frontage along a major commercial corridor with reported traffic of 27,188 Average Annual Daily Traffic. C2 zoning is identified for service businesses, medical offices, and professional offices. The existing lease provides flexibility to continue the tenancy or terminate it with 30 days’ notice following the sale, in accordance with the lease agreement.
The site contains 0.38 acre and offers 95.7 feet of frontage along a major commercial corridor with reported traffic of 27,188 Average Annual Daily Traffic. C2 zoning is identified for service businesses, medical offices, and professional offices. The existing lease provides flexibility to continue the tenancy or terminate it with 30 days’ notice following the sale, in accordance with the lease agreement.
Key Highlights
- 1,425 SF mixed‑use office property on a 0.38‑acre site
- 400 sq ft detached building with heating, cooling, and electric
- 95.7 ft of frontage on a major commercial corridor
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
$27,052
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
5.15%
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%
$541,040
$541.0K
Cap Rate 7%
$386,457
$386.5K
Cap Rate 9%
$300,578
$300.6K
Market Conditions
NOI Build-Up for 1,425 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
$45.7K $32.04/SF
− Vacancy
−$2.4K −$1.67/SF
EGI
$43.3K $30.37/SF
− OpEx
−$16.2K −$11.39/SF
NOI
$27.1K $18.98/SF
Area
Rutherford County, TN
Vacancy
5.20%
Lease Rate
$32.04 /SF/Yr
Expense Ratio
37.50%
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%
$541,040
Cap Rate 7%
$386,457
Cap Rate 9%
$300,578
Alternative Uses
Best Use
Mixed Use
$386.5K
$338.2K – $450.9K
NOI $27,052 @ 7.0% cap · market cap 5.15%
Second Best
Office B
$340.6K
$298.0K – $397.4K
NOI $23,842 @ 7.0% cap · market cap 4.54%
Theoretical Best
Specialty Retail
$492.5K
$430.9K – $574.6K
NOI $34,474 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
27,188 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
263
Businesses Nearby
Explore this area
Business Placement
Demographics for 37167, TN
61,731
Population
23,694
Households
2.6
Avg Household Size
36
Median Age
28%
College-Educated
90%
High-School Grad
55.0 sq mi
ZIP Area
1,122
Density / Sq Mi
$79,720
Median Household Income
$42,705
Median Earnings
$1,359
Median Rent
$330,600
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?
Mixed-use property - C2-zoned commercial property with office space, a detached building, and an existing tenant in place.
Where is this mixed-use property located?
The property is located at 738 Nissan Dr Smyrna, TN.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: 1,425 SF mixed‑use office property on a 0.38‑acre site; 400 sq ft detached building with heating, cooling, and electric; 95.7 ft of frontage on a major commercial corridor
