Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    204 Maddox-Simpson Pkwy Lebanon, TN 37090

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    204 Maddox-Simpson Pkwy Lebanon, TN 37090

    View on Map
    • Office properties & Spaces
    • 9,955 SF
    • 1.81 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 204 Maddox-Simpson Pkwy

    Year built
    2012
    Lot size
    1.81 lot acres
    Property size
    9,955 SF
    Property type
    Office properties & Spaces

    Description

    This exceptional investment opportunity presents a single-tenant, 9,955 square foot office building fully leased to the Tennessee Department of Safety and Homeland Security. Located in Lebanon, TN, within the Nashville MSA, this property boasts a newly completed, $1.125 million renovation (2024), encompassing a new roof, windows, HVAC system, plumbing, and electrical upgrades. The 10-year lease, commencing December 1, 2024, and expiring November 30, 2034, provides exceptional long-term stability and a strong 6.50% cap rate based on a Net Operating Income (NOI) of $200,948. The tenant, with an AAA+ S&P Global Credit Rating, is responsible for all utilities and janitorial services. The property features 128 paved parking spaces and sits on a 1.81-acre level lot. Built in 2012, this single-story brick building offers a secure and stable investment with in-place professional management available. The property is 100% occupied with a lease type classified as Modified. This is a rare opportunity to acquire a high-quality, government-leased asset in a rapidly growing submarket of the Nashville MSA. The property is located at 204 Maddox-Simpson Pkwy, Lebanon, TN 37090.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lebanon
    County
    Wilson
    State
    Tennessee
    Longitude
    -86.298
    Latitude
    36.1729

    Comparable in this City

    • Value Estimation
      $580,000
      2,667 SF

      240 Flatt Rock Rd

      OFFICE (GENERAL) • 2,667 SF
      240 Flatt Rock Rd, Lebanon, TN 37090-9222
      View Details
    • Value Estimation
      $1,120,000
      5,166 SF

      205 Stumpy Ln

      OFFICE (GENERAL) • 5,166 SF
      205 Stumpy Ln, Lebanon, TN 37090-5339
      View Details
    • Value Estimation
      $4,415,000
      19,569 SF

      201 Pryor Crk N Rd, Unit 41

      OFFICE (GENERAL) • 19,569 SF
      201 Pryor Crk N Rd, Lebanon, TN 37090-1254
      View Details
    • Value Estimation by Request
      1,935 SF

      191 Aviation Way

      OFFICE (GENERAL) • 1,935 SF
      191 Aviation Way, Lebanon, TN 37090-7018
      View Details
    • Value Estimation by Request
      3,761 SF

      2925 Tn-109

      Coworking space • 3,761 SF
      2925 Tn-109, Lebanon, TN 37090
      View Details
    • Value Estimation by Request
      3,761 SF

      2925 Tn-109

      Coworking space • 3,761 SF
      2925 Tn-109, Lebanon, TN 37090
      View Details

    Similar Nearby for Sale

    • $5,250,000
      10,400 SF

      Commercial Property Near Interstate Access

      Commercial property with steel building, office space, and storage yard.
      6700 Old Murfreesboro Rd E, Lebanon, TN 37090
      View Details
    • $229,000

      5 Acre Land Parcel

      5 acre land parcel for custom dream home construction.
      2445 N Commerce Rd, Lebanon, TN 37090
      View Details
    • Contact for pricing

      Industrial Land in Lebanon, TN

      Two industrial lots totaling 48.45 acres in Lebanon, TN.
      2001-2007 Maxwell Ct, Lebanon, TN 37090
      View Details
    • $1,960,200
      130,680 SF

      Industrial Land Parcel on Highway

      3-acre industrial land parcel with direct highway access.
      3320 Highway 109 N, Lebanon, TN 37090
      View Details
    • $450,000

      2.8 Acre Lot on Murfreesboro

      Level 2.8 acre lot with 446' frontage.
      3303 Murfreesboro Rd, Lebanon, TN 37090
      View Details
    • $24,900,000

      Large Farm with Luxury Home

      1397-acre farm with custom home, pastures, and hunting land.
      6180 SE Tater Peeler Rd, Lebanon, TN 37090
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      New Class A Industrial Facility

      Class A industrial facility for rent in Lebanon, Tennessee.
      303 Alligood Way, Lebanon, TN 37090
      View Details
    • Contact for pricing

      Master Planned Industrial Development

      Class A industrial development with build-to-suit opportunities and highway access.
      I-840, Lebanon, TN 37090
      View Details
    • Contact for pricing
      100,880 SF

      Lebanon Warehouse with Dock Doors

      Newer construction warehouse with multiple dock and drive-in doors.
      7500 Eastgate Blvd, Lebanon, TN 37090
      View Details
    • Contact for pricing

      22,000 SF Industrial Site

      Industrial site for lease on approximately 20 acres.
      980 Leeville Rd, Lebanon, TN 37090
      View Details
    • Contact for pricing
      650,000 SF

      Industrial Park Build-to-Suite Opportunity

      Master-planned industrial park with build-to-suite options available for lease.
      1526-1846 Sparta Pike, Lebanon, TN 37090
      View Details
    • Contact for pricing
      40,500 SF

      Lebanon Warehouse Space Available

      40,500 SF warehouse space with spec office for lease.
      3301 Highway 109 N, Lebanon, TN 37090
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    204 Maddox-Simpson Pkwy
    Lebanon, TN 37090
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!