Commercial flex warehouse / north Nashville

[Derek Bell]

I started my first IWD project in Dec 2018. I bought about 1.3 acres of IWD land in North Nashville for 249k. My Contractor and I built a 15,000sf warehouse comprising of 6 units each at 2500sf. Each warehouse is around 2200sf with about 300sf office space. One of my businesses operate out of one unit and I am leasing the remaining. The warehouse was completed about two months ago and I have three that are leased. The first one being my business, the other two at $14 a sf triple net. 

Once I have all 6 leased I am looking at a NOI of 210,000 annually. Property was appraised at $2,310,000 before the building was constructed.

1st question) How much does the bank property appraisal really have on the actual value of a commercial property? 

2nd question) I read that industrial cap rates for Nashville are around 7%. Once my units are all rented with a total of 210k annual NOI, does that mean the building is more valued at 3 mil?

3rd question) I have been using a commercial warehouse leasing agent to list these units. To date they have not signed a single lease. I have secured all 3 leases by myself mostly by getting tired of the wait and posting the listing on Loopnet myself. What is everyones experience with leasing agents?

4th question) I want to do another project once all my units are leased. I really want to hold my property for a while and not sell. Can I use my current project as leverage at the bank to get another project up and running without having to give so much cash up front?

I have so many more questions but these are ones coming to mind as of now. I appreciate any and all feedback.