Established Business in Robertson
For Sale
Contact for pricing
2120 Old Hwy 431 S, Greenbrier, TN 37073
20,000 SF metal building on 3+ acres for sale.
Property Size20,000 SF
Lot Size3.00 Acres
Price / SF$170
Days on Market694
Property Features for 2120 Old Hwy 431 S
General Information
Standard status
Active
Size
20,000 SF
Lot size
3.00 Acres
Property subtype
Special Purpose
Zoning
C-1
Listing Agency:
CENTURY 21 Landmark Realty Pleasant View
(615) 533-9533
Listed By:
Martha Dodd · License #TN
Source:
Crexi
Added: Sep 17, 2024
Changed: Aug 11
Last Checked: Aug 11 at 10:41AM
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 CENTURY 21 Landmark Realty Pleasant View
Investment Insights
Based on property information with market context.
This commercial property is located in Robertson County and features an established business known as "Ms Rhonda's Antiques & More." The property fronts high-traffic Highway 431 South, situated 7 miles from Interstate 24, Exit 35 (Joelton). The new metal building spans 20,000 square feet and is positioned on over 3 acres. It includes 123 paved parking spaces. "Ms Rhonda's Antiques & More" accommodates 173 vendor booths. A food truck operates on weekends and during special events.
Key Highlights
- Prime location on high‑traffic Hwy 431 S in Robertson County.
- New 20,000' metal building on 3+ acres.
- Established business "Ms Rhonda's Antiques & More" included.
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
$230,580
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
6.78%
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%
$4,611,600
$4.6M
Cap Rate 7%
$3,294,000
$3.3M
Cap Rate 9%
$2,562,000
$2.6M
Market Conditions
NOI Build-Up for 20,000 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
$360.0K $18.00/SF
− Vacancy
−$30.6K −$1.53/SF
EGI
$329.4K $16.47/SF
− OpEx
−$98.8K −$4.94/SF
NOI
$230.6K $11.53/SF
Area
Robertson County, TN
Vacancy
8.50%
Lease Rate
$18.00 /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%
$4,611,600
Cap Rate 7%
$3,294,000
Cap Rate 9%
$2,562,000
Alternative Uses
Best Use
Retail
$3.29M
$2.88M – $3.84M
NOI $230,580 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.86M
$5.13M – $6.84M
NOI $410,400 @ 7.0% cap · market cap 12.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
8k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Marathon
Shops & Services
5,112 visits/mo
0.5 miles
U-Haul
Shops & Services
2,857 visits/mo
0.5 miles
Demographics for 37073, TN
14,506
Population
5,460
Households
2.7
Avg Household Size
41
Median Age
22%
College-Educated
92%
High-School Grad
51.2 sq mi
ZIP Area
283
Density / Sq Mi
$82,716
Median Household Income
$43,617
Median Earnings
$1,157
Median Rent
$339,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - 20,000 SF metal building on 3+ acres for sale.
Where is this storefront property located?
The property is located at 2120 Old Hwy 431 S Greenbrier, TN.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Prime location on high‑traffic Hwy 431 S in Robertson County.; New 20,000' metal building on 3+ acres.; Established business "Ms Rhonda's Antiques & More" included.
