403 Gallatin AveNashville, TN 37206

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

Strip malls

Property subtype

Neighborhood centers

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.

• 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

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