1414 Highland AveColumbia, TN 38401

  • Retail space
  • 912 SF
For Sale
$325,000 View listing

Property Details for 1414 Highland Ave

Year built
1925
Lot size
0.10 AC
Property size (Sq ft)
912 SF
Zone code
GCS
Property type
Retail space
APN
060100L E 01600
APU
060100LE01600

Description

This 840-square-foot storefront at 1414 Highland Ave, Columbia, TN 38401, presents a compelling investment opportunity. Located in Maury County, this stabilized retail property boasts a 6.20% cap rate and a strong net operating income (NOI) of $20,141. The property, built in 1925 and extensively renovated in 2022, sits on a 4,322-square-foot lot and is zoned CD-4. Currently occupied by a single tenant under a triple-net (NNN) lease, the lease commenced February 1, 2022, and expires February 1, 2025, with a remaining term of approximately 0.1 years. The lease includes annual rent bumps of 10%. The asking price is $325,000, translating to $386.90 per square foot. The property's recent renovation makes it adaptable for various uses, potentially appealing to owner-occupiers or those seeking to reposition the space. This presents a rare chance to acquire a well-maintained, income-producing asset in a thriving area. The property's location near booming downtown Columbia offers excellent visibility and access to a growing market. The low expenses and consistent cash flow make this an attractive investment for discerning buyers. The property's APN is 100L E 016.00.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $231,598
    6.5%
    $213,783
    7%
    $198,513
  • Comparable approach

    Method
    Valuation
    Relative Method
    $197,832
    Geo Method
    $197,832
  • Alternative Use

    Use
    Valuation
    Residential
    $180,334
    Hospitality
    $165,185
    Educational
    $137,432
    Medical
    $142,158
    Retail
    $213,783

Location Insight

City
Columbia
County
Maury
State
Tennessee
Latitude
35.6054
Longitude
-87.0384
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
$985
$15,400
$20,600
$36,000
-
$38,500
$51,500
$90,000

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