403 Gallatin AveNashville, TN 37206

  • Retail properties
  • 5,270 SF
For Sale
$4,995,000 View listing

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
403 Gallatin Ave, Nashville, Tennessee

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$17,388
$405,000
$129,360
$534,360
-
$1,012,500
$323,400
$1,335,900

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