403 Gallatin AveNashville, TN 37206
- Retail properties
- 5,270 SF
Property Details for 403 Gallatin Ave
- Year built
- 1950
- Lot size
- 0.46 AC
- Property size (Sq ft)
- 5,270 SF
- Zone code
- MUG-A
- Property type
- Retail properties
- Property subtype
- Strip malls
- APN
- 083-09-0-008-00
- APU
- 8309000800
Description
This exceptional 5,985 square foot retail property, located at 403 Gallatin Avenue in Nashville, Tennessee, presents a compelling investment opportunity. The property boasts a 5.26% cap rate and a substantial net operating income (NOI) of $262,574, derived from a 100% occupancy rate across two tenants: Sherwin-Williams and Jane's Hideaway. These tenants occupy the single-story building, constructed in 1950 and renovated in 2022, under triple-net (NNN) leases with a remaining term of three years and 3.5% annual rent bumps. The property sits on a 0.46-acre corner lot, providing excellent visibility and accessibility along Gallatin Avenue, a major thoroughfare. Eighteen parking spaces are available. The MUG-A zoning allows for potential future redevelopment into mixed-use or multi-family projects, subject to necessary approvals. This stabilized investment offers predictable cash flow and significant upside potential in the rapidly growing East Nashville market, just minutes from downtown Nashville. The property's strong tenant mix, prime location, and redevelopment potential make it an ideal acquisition for investors seeking a high-return, low-risk investment in a thriving urban environment. The asking price is $4,995,000, translating to $834.59 per square foot.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,338,293
- 6.5%
- $1,235,347
- 7%
- $1,147,108
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,143,177
- Geo Method
- $1,143,177
-
Alternative Use
- Use
- Valuation
- Residential
- $1,042,062
- Hospitality
- $954,523
- Educational
- $794,152
- Medical
- $821,464
- Retail
- $1,235,347
Location Insight
- City
- Nashville
- County
- Davidson
- State
- Tennessee
- Latitude
- 36.1809
- Longitude
- -86.7493
- CBSA code
- 34980
- CBSA name
- NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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