Versatile Commercial Property with Extra
For Sale
$630,000
820 Providence Blvd, Clarksville, TN 37042
Well-maintained commercial building with C2 zoning and vacant lot.
Property Size3,500 SF
Lot Size0.47 Acres
Price / SF$180
Days on Market157
Property Features for 820 Providence Blvd
General Information
Standard status
Active
Size
3,500 SF
Lot size
0.47 Acres
Property subtype
Commercial
Amenities
Metal Roof
Building Details
Year Built
1993
Listing Agency:
COLDWELL BANKER SOUTHERN REALTY
(931) 647-3600
Listed By:
KATHERINE HAWKINS PAGE · License #383789
Source:
Corcoran
Added: Mar 19
Changed: Aug 21
Last Checked: Aug 21 at 10:03AM
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 COLDWELL BANKER SOUTHERN REALTY
Investment Insights
Based on property information with market context.
This commercial property, currently operating as a church, is zoned C2 General Commercial, allowing for a range of potential uses such as office space, retail shops, daycare, event space, or continued worship. The building features brick and stone construction on a slab foundation. An asphalt parking lot includes a handicap ramp, with additional overflow parking on a gravel/grass area. Inside, the entry foyer leads to a sanctuary measuring approximately 51 feet by 35 feet, complete with LVT flooring, an acoustical ceiling with recessed lighting, a stage, and a rear sound booth. The right side of the building includes three flexible classroom or office spaces: two measuring 13 feet by 12 feet with laminate flooring, and one measuring 12 feet by 10 feet with vinyl flooring, all with acoustical drop ceilings. Additional interior features include a nursery room (13 feet by 15 feet), a kitchen/utility area (12 feet by 10 feet), four handicap-accessible restrooms with vinyl flooring, and a large storage room. The building is large enough to split into two separate businesses. Outside, there is an enclosed concrete pad with a metal carport. The property is equipped with two gas HVAC units installed in 2021. A vacant adjoining commercial 0.85 acre lot is included as part of this sale. The property size is 3500 square feet.
Key Highlights
- C2 General Commercial zoning allows for a wide range of uses.
- Includes a vacant adjoining 0.85‑acre commercial lot on Cedar Court.
- Spacious sanctuary with stage and sound booth.
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
$33,304
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
5.29%
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%
$666,080
$666.1K
Cap Rate 7%
$475,771
$475.8K
Cap Rate 9%
$370,044
$370.0K
Market Conditions
NOI Build-Up for 3,500 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
$50.4K $14.40/SF
− Vacancy
−$2.8K −$0.81/SF
EGI
$47.6K $13.59/SF
− OpEx
−$14.3K −$4.08/SF
NOI
$33.3K $9.52/SF
Area
Clarksville, TN
Vacancy
5.60%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$666,080
Cap Rate 7%
$475,771
Cap Rate 9%
$370,044
Alternative Uses
Best Use
Retail
$475.8K
$416.3K – $555.1K
NOI $33,304 @ 7.0% cap · market cap 5.29%
Second Best
Office B
$459.0K
$401.6K – $535.5K
NOI $32,130 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$587.5K
$514.1K – $685.4K
NOI $41,126 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Explore this area
Business Placement
Demographics for 37042, TN
83,498
Population
35,433
Households
2.4
Avg Household Size
29
Median Age
26%
College-Educated
94%
High-School Grad
56.9 sq mi
ZIP Area
1,467
Density / Sq Mi
$66,435
Median Household Income
$38,716
Median Earnings
$1,196
Median Rent
$220,700
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Church & religious facility - Well-maintained commercial building with C2 zoning and vacant lot.
Where is this church & religious facility located?
The property is located at 820 Providence Blvd Clarksville, TN.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: C2 General Commercial zoning allows for a wide range of uses.; Includes a vacant adjoining 0.85‑acre commercial lot on Cedar Court.; Spacious sanctuary with stage and sound booth.
