Renovated Office
For Sale
Contact for pricing
854 Wren Rd, Goodlettsville, TN 37072
Updated professional office property with monument signage, dedicated parking, and flexible CSL commercial zoning.
Property Size3,673 SF
Price / SF$299.21
Days on Market231
Property Features for 854 Wren Rd
General Information
Standard status
Active
Size
3,673 SF
Total Parking Spaces
16
Property subtype
OFFICE
Zoning
CSL
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1984
Year Renovated
2023
Buildings
1
Building Size
3,673 SF
Tenancy
Single
Owner Occupied
No
Abandoned
No
Listing Agency:
Beachwood Commercial Real Estate Brokerage
(615) 603-9770
Listed By:
Beau Beach
Source:
Moodyscre
Added: Jan 12
Changed: Aug 30
Last Checked: Aug 30 at 1:00PM
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 Beachwood Commercial Real Estate Brokerage
Investment Insights
Based on property information with market context.
Located at 854 Wren Rd in Goodlettsville, Tennessee, this 3,673-square-foot office building was constructed in 1984 and comprehensively renovated in 2023. The property includes 16 parking spaces and prominent monument signage. It is currently occupied, with availability scheduled for April 1st, 2026.
The building is zoned CSL, or Commercial Services Limited. Listed permitted-use categories include business and communication services, financial and administrative functions, medical, retail, personal services, veterinary, and religious uses.
The property shares a 0.65-acre parcel with 125 Glancy, which is also available; the parcel is to be subdivided before closing. Regional access includes RiverGate Parkway, Interstate 65 at Exit 96, Vietnam Veterans Boulevard (SR 386), Gallatin Pike, Dickerson Pike, and Veterans Memorial Boulevard.
The building is zoned CSL, or Commercial Services Limited. Listed permitted-use categories include business and communication services, financial and administrative functions, medical, retail, personal services, veterinary, and religious uses.
The property shares a 0.65-acre parcel with 125 Glancy, which is also available; the parcel is to be subdivided before closing. Regional access includes RiverGate Parkway, Interstate 65 at Exit 96, Vietnam Veterans Boulevard (SR 386), Gallatin Pike, Dickerson Pike, and Veterans Memorial Boulevard.
Key Highlights
- 3,673 SF office building at 854 Wren Rd
- Comprehensive interior renovation completed in 2023
- 16 on‑site parking spaces and prominent monument signage
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
$61,453
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
5.59%
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%
$1,229,060
$1.2M
Cap Rate 7%
$877,900
$877.9K
Cap Rate 9%
$682,811
$682.8K
Market Conditions
NOI Build-Up for 3,673 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
$97.0K $26.40/SF
− Vacancy
−$15.0K −$4.09/SF
EGI
$81.9K $22.31/SF
− OpEx
−$20.5K −$5.58/SF
NOI
$61.5K $16.73/SF
Area
Davidson County, TN
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%
$1,229,060
Cap Rate 7%
$877,900
Cap Rate 9%
$682,811
Alternative Uses
Best Use
Office B
$877.9K
$768.2K – $1.02M
NOI $61,453 @ 7.0% cap · market cap 5.59%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.45M
$3.89M – $5.19M
NOI $311,272 @ 7.0% cap · market cap 28.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,117
Businesses Nearby
Explore this area
Business Placement
Demographics for 37072, TN
33,065
Population
14,377
Households
2.3
Avg Household Size
40
Median Age
28%
College-Educated
89%
High-School Grad
77.5 sq mi
ZIP Area
427
Density / Sq Mi
$75,514
Median Household Income
$44,313
Median Earnings
$1,359
Median Rent
$340,900
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?
Office building - Updated professional office property with monument signage, dedicated parking, and flexible CSL commercial zoning.
Where is this office building located?
The property is located at 854 Wren Rd Goodlettsville, TN.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: 3,673 SF office building at 854 Wren Rd; Comprehensive interior renovation completed in 2023; 16 on‑site parking spaces and prominent monument signage
