Renovated Commercial Building on
For Sale
$1,500,000
Pending
770 Nissan Dr, Smyrna, TN 37167
Recently renovated 2,000 SF building on 1.3 acres.
Property Size2,000 SF
Lot Size1.35 Acres
Days on Market992
Property Features for 770 Nissan Dr
General Information
Standard status
Pending
Size
2,000 SF
Lot size
1.35 Acres
Property subtype
Commercial
Building Details
Year Built
1994
Listing Agency:
COVENANT REAL ESTATE SERVICES
(615) 948-5917
Listed By:
AMIR ROSHAN
Source:
Corcoran
Added: Feb 6, 2024
Changed: Oct 25
Last Checked: Oct 24 at 6:29PM
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 COVENANT REAL ESTATE SERVICES
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This commercial property features a recently renovated 2,000-square-foot building situated on over 1.3 acres. The building is currently leased until November 2020. Previously used as a bank, the property offers possibilities for various types of businesses. It benefits from a location one block from Nissan North America and is adjacent to Krystal, across from McDonald's, O'Riely, and Sonic. The property includes 230 feet of frontage on Nissan Drive.
Key Highlights
- Prime location: A block from Nissan North America and surrounded by established businesses.
- High visibility: 230 Feet of frontage on Nissan Drive.
- Move‑in ready: Recently renovated 2000 sq.ft building.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,384
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$967,680
$967.7K
Cap Rate 7%
$691,200
$691.2K
Cap Rate 9%
$537,600
$537.6K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$67.2K $33.60/SF
− Vacancy
−$2.7K −$1.34/SF
EGI
$64.5K $32.26/SF
− OpEx
−$16.1K −$8.06/SF
NOI
$48.4K $24.19/SF
Area
Rutherford County, TN
Vacancy
4.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$967,680
Cap Rate 7%
$691,200
Cap Rate 9%
$537,600
Alternative Uses
Best Use
Specialty Retail
$691.2K
$604.8K – $806.4K
NOI $48,384 @ 7.0% cap · market cap 3.23%
Second Best
Retail
$652.0K
$570.5K – $760.7K
NOI $45,642 @ 7.0% cap · market cap 3.04%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
263
Businesses Nearby
232k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 39%
Dining 38%
Shops & Services 21%
Apparel 2%
Walmart
Superstores
89,987 visits/mo
0.5 miles
McDonald's
Dining
24,314 visits/mo
0.1 miles
SONIC Drive In
Dining
16,926 visits/mo
0.2 miles
Dollar Tree
Shops & Services
15,845 visits/mo
0.4 miles
Circle K
Shops & Services
12,546 visits/mo
0.2 miles
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
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
Frequently Asked Questions
What type of property is this?
Bank - Recently renovated 2,000 SF building on 1.3 acres.
Where is this bank located?
The property is located at 770 Nissan Dr Smyrna, TN.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Prime location: A block from Nissan North America and surrounded by established businesses.; High visibility: **230 Feet of frontage on Nissan Drive.**; Move‑in ready: Recently renovated 2000 sq.ft building.
