508 Henslee DrDickson, TN 37055

Property Details for 508 Henslee Dr

Year built

1994

Lot size

0.60 AC

Property size (Sq ft)

2,220 SF

Property type

Retail properties

Property subtype

Grocery and convenience stores

APN

103L A 01303

APU

103LA01303

Description

This exceptional investment opportunity presents a fully leased, multi-tenant retail property located at 508 Henslee Dr, Dickson, TN 37055. The 4,688 square foot building, constructed in 1994 and renovated in 2023, sits on a 0.6-acre lot with 15 parking spaces and 8 gas pumps. The property boasts a prime location at a lighted intersection with an average daily traffic count of 14,000, benefiting from its proximity to Dickson County High School (1,472 students). Currently operating at 100% occupancy with two tenants, the property features a convenience store with a full kitchen and a three-bay garage for a tire and lube shop. Both tenants are under triple net (NNN) leases extending until 2028, generating a current net operating income (NOI) of $97,800, representing a 7.82% cap rate. The property is zoned B3 High Commercial Service and offers significant upside potential through lease options and potential value-added improvements. The asking price is $1,250,000 ($266.64/sq ft). This fee-simple ownership presents a strong, stable income stream in a growing community. The property's features include a hard-corner lot, high visibility, and consistent traffic flow, making it an attractive investment for discerning buyers seeking a reliable and profitable asset.

• CAP approach

  CAP return

  Valuation

  6%

  $563,759

  6.5%

  $520,393

  7%

  $483,222

• Comparable approach

  Method

  Valuation

  Relative Method

  $481,566

  Geo Method

  $481,566

• Alternative Use

  Use

  Valuation

  Residential

  $438,971

  Hospitality

  $402,095

  Educational

  $334,538

  Medical

  $346,044

  Retail

  $520,393

Location Insight

City

Dickson

County

Dickson

State

Tennessee

Latitude

36.0843

Longitude

-87.3846

CBSA code

34980

CBSA name

NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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