Five-Office Condominium
New
For Sale
$550,000
7984 Coley Davis Rd 202, Nashville, TN 37221
Five private offices, a conference or lounge area, and dedicated storage support a professional layout.
Property Size1,480 SF
Price / SF$371.62
Days on Market2
Property Features for 7984 Coley Davis Rd 202
General Information
Standard status
Active
Size
1,480 SF
Additional Details
Cap Rate
5.58%
Office Units
1
Building Details
Year Built
2005
Tenancy
Single
Owner Occupied
No
Listing Agency:
Keller Williams Realty Nashville/Franklin
Listed By:
Alex Delgado · License #284580
(615) 778-1818
Source:
Dreamdoorstn
Added: Sep 8
Last Checked: Sep 8 at 2:40PM
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 Keller Williams Realty Nashville/Franklin
Investment Insights
Based on property information with market context.
Suite 202 is a 1,480 SF office condominium in Harpeth Springs Business Park. The layout includes a reception room, five private offices equipped with sinks and cabinetry, a large conference or staff lounge, one bathroom, and a storage room. Frosted glass interior doors, designer fixtures, modern lighting, and finished interior details complete the office environment.
The property is located at 7984 Coley Davis Rd in Bellevue, within West Nashville. Built in 2005, the unit is leased under an NNN structure and carries a 5.58% cap rate. The office configuration combines private work areas with shared meeting or staff space in a dedicated condominium unit.
The property is located at 7984 Coley Davis Rd in Bellevue, within West Nashville. Built in 2005, the unit is leased under an NNN structure and carries a 5.58% cap rate. The office configuration combines private work areas with shared meeting or staff space in a dedicated condominium unit.
Key Highlights
- 1,480 SF office condominium in Harpeth Springs Business Park
- Suite 202 includes five private offices, reception, conference or staff lounge, bathroom, and storage
- Five offices feature sinks and cabinetry
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
$24,762
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
4.50%
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%
$495,240
$495.2K
Cap Rate 7%
$353,743
$353.7K
Cap Rate 9%
$275,133
$275.1K
Market Conditions
NOI Build-Up for 1,480 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
$39.1K $26.40/SF
− Vacancy
−$6.1K −$4.09/SF
EGI
$33.0K $22.31/SF
− OpEx
−$8.3K −$5.58/SF
NOI
$24.8K $16.73/SF
Area
ZIP 37221
Vacancy
15.50%
Lease Rate
$26.40 /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%
$495,240
Cap Rate 7%
$353,743
Cap Rate 9%
$275,133
Alternative Uses
Best Use
Office B
$353.7K
$309.5K – $412.7K
NOI $24,762 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$497.3K
$435.1K – $580.2K
NOI $34,810 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Explore this area
Business Placement
Demographics for 37221, TN
42,312
Population
20,323
Households
2.1
Avg Household Size
39
Median Age
62%
College-Educated
97%
High-School Grad
49.3 sq mi
ZIP Area
858
Density / Sq Mi
$99,083
Median Household Income
$58,191
Median Earnings
$1,778
Median Rent
$432,900
Median Home Value
Market
Vacancy Rate% for Office in Nashville, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Five private offices, a conference or lounge area, and dedicated storage support a professional layout.
Where is this office units located?
The property is located at 7984 Coley Davis Rd 202 Nashville, TN.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 1,480 SF office condominium in Harpeth Springs Business Park; Suite 202 includes five private offices, reception, conference or staff lounge, bathroom, and storage; Five offices feature sinks and cabinetry
