Hendersonville TN real estate is a great investment for anyone looking to build wealth or generate income. The city is growing rapidly, and there is a lot of potential for commercial real estate. But, before you invest, there are several things you need to consider. First, what is the purpose of the investment? Are you looking to generate income, or are you looking to appreciation? Second, what are your risks and rewards? What are the potential risks and rewards associated with the property? Third, what is the market like? Is it a buyer’s market or a seller’s market? These are a few of the considerations you need to make before investing in commercial real estate in Hendersonville, TN.
The Real Estate Hendersonville TN
Hendersonville is a rapidly growing city with a favorable Real Estate market. The average price of office space is $325 per square foot, which is lower than the national average of $1,400 per square foot. In Hendersonville, TN, there were 1,879 total commercial properties sold in 2017. This represents a 4% decrease compared to 2016. The average sales price was $1,941,000. The median sales price was $1 million. The number of new listings increased by 2%. The number of active listings decreased by 3%. The number of pending sales decreased by 5%. The number of closed sales increased by 6%.
In Hendersonville, Tennessee, the average annual rate of return on investment was 9.3% between 2012 and 2016. This means that for every $1,000 invested, the owner would receive $933 back after one year. However, the average annual rate for commercial real estate Hendersonville TN has been increasing since 2010.
Commercial Property Types
There are several different types of commercial property available. Each has its own advantages and disadvantages. For example, office space tends to be more expensive than retail space, but it also provides better visibility for customers. Retail spaces tend to be cheaper, but they require more upkeep.
Some of the most common property types include:
Office Space in Real Estate Hendersonville TN
Office space tends to be more expensive than retail space, but it also provides better visibility for customers. Retail spaces tend to be cheaper, but they require more upkeep.
Industrial Space in Real Estate Hendersonville TN
Industrial spaces are best suited for businesses that need a lot of room to operate. They are typically larger and more expensive than other types of commercial real estate.
Retail Space in Real Estate Hendersonville TN
Retail spaces are perfect for businesses that want to be in close proximity to their customers. They are typically smaller and cheaper than other types of commercial real estate.
Average Listing Price
Commercial real estate prices vary widely across the country. In some areas, such as New York City, average listing prices are much higher than other parts of the country. However, there are also places where average listing prices are lower than other cities. Real Estate Hendersonville TN is one of these places. In Hendersonville, the average listing price for commercial real estate was $1,941,000 in 2017. This is lower than the national average of $2,500,000. Commercial Real Estate Hendersonville, TN selling at an average price of $1,000 per square foot. This is lower than the national average of $1,200 per square foot. The median listing price is $750,000.
Median Sales Price
The median sales price for commercial Real Estate Hendersonville TN has increased significantly since 2010. This trend is expected to continue through 2020. In Hendersonville, the median sales price for commercial Real Estate was $1,000,000 in 2017. This is significantly higher than the national average of $500,000. The median sales price for Real Estate Hendersonville TN has increased significantly since 2010 due to the strong economy and rising population. However, this trend is expected to slow down in the next few years.
If you’re unsure about where to start, our team at JP Powell can help you get started. We have years of experience helping investors find the right commercial property in Hendersonville TN and make smart investments that pay off in the long run. Contact us today to learn more!