Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    12533 S 1St St Milan, TN 38358

    Sponsored
    For Sale
    Pending
    $1,700,000

    LAND - Milan, TN

    Lot size:
    5.50 Acres
    Days on Market:
    107
    Last Refresh:
    Jan 27 at 3:06 pm

    Property Features for 12533 S 1St St

    General Information

    Special listing conditions
    Standard
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Pending
    APN
    Multiple Parcel
    Lot size
    5.50 Acres

    Utilities

    Utilities
    Natural Gas Available

    We can help!

    Listing Contact
    David W. Nelson

    Hickman Realty Group (731) 664-1006

    Listing agent David W. Nelson (731) 571-1270 License #202015

    Listing date Oct 13, 2025

    MLS# 234593 Listing URL

    Copyright © 2026 Central West Tennessee Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Land with Existing Structures, Milan

    This property, situated on US 45 in Milan, TN, comprises approximately 5.5 acres divided into three tracts. It is one of only two properties between McDonald's and Walmart with available space for construction. The site currently features a car sales office with a large shop, a 3,750-square-foot rental area previously used for firecracker sales, and 65 mini storage units. Located on a four-lane highway that extends from the Gulf of Mexico to the Great Lakes, this property presents an opportunity for developing a new business.
    Location Intelligence

    Current Use by Public Records

    Emert Auto Sales Used Car Dealer Southern Boom Fireworks Fireworks Store Big Bad Wraps Vehicle Wrapping Service Autocare Milan Auto Repair Shop

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Milan
    County
    Gibson
    State
    Tennessee
    Longitude
    -88.748817
    Latitude
    35.885689

    Nearby Similar for Sale

    • $650,000
      6,480 SF

      Renovated Commercial Space in Milan

      6,400+ sq ft renovated building suitable for retail or fitness.
      1077 S Main St, Milan, TN 38358
      View Details
    • $189,900
      1,143 SF

      Milan Tavern Opportunity For Sale

      Stand-alone building in high-traffic area, currently a working tavern.
      1053 N Main St, Milan, TN 38358
      View Details
    • $859,900
      913 SF

      House and Four Duplexes Package

      House plus four income-producing duplexes. Ideal for investors.
      8097 W Van Hook St, Milan, TN 38358
      View Details
    • $350,000
      1,558 SF

      Commercial Building in Desirable Location

      Commercial building in Milan, Tennessee, suitable for various businesses.
      1014 N Main St, Milan, TN 38358
      View Details
    • $125,000
      1,200 SF

      Downtown Milan Commercial Building For Sale

      1200 SF commercial building in downtown Milan, Tennessee.
      1124 S Main St, Milan, TN 38358
      View Details
    • $650,000
      5,000 SF

      Modern Shop in Excellent Condition

      Two-year-old, 5,000 sq ft shop with modern amenities.
      3029 Highland St, Milan, TN 38358
      View Details
    • New
      $182,500
      Pending

      Milan, TN Duplex For Sale

      Duplex in Milan, Tennessee with 2,039 square feet.
      4110 Bringle St, Milan, TN 38358
      View Details
    • $352,000
      1,332 SF

      Cash-Flowing West Tennessee Rental Portfolio

      Fully occupied, cash-flowing 5-property rental portfolio in West Tennessee.
      3068 W Jackson St, Milan, TN 38358
      View Details
    • Contact for pricing
      38,225 SF

      High-Traffic Retail/Office Space Available

      Retail or office space in high-traffic Walmart shadow center.
      15423 S 1St St, Milan, TN 38358
      View Details
    • $125,000

      Downtown Commercial Building For Sale

      1,200 sq ft commercial building with 4 offices and kitchen.
      1124 S Main St, Milan, TN 38358
      View Details
    • Contact for pricing
      1,764 SF

      Medical Office with Exam Rooms

      Medical office featuring multiple exam rooms and ample storage.
      2025 S 1St St, Milan, TN 38358
      View Details
    • $125,000
      1,200 SF

      Prime Milan Office Building

      1,200 sq ft Office, 0.4 Acres
      1124 Main St, Milan, TN 38358
      View Details

    FAQs

    What type of property is this?
    Self service car wash - 5.5 acres on US 45 with existing structures and storage.
    Where is this self service car wash located?
    The property is located at 12533 S 1St St Milan, TN.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: - Prime location on US 45, a 4-lane highway connecting the Gulf of Mexico to the Great Lakes.; - One of only two properties with building potential between McDonald's and Walmart in Milan.; - Total of approximately 5.5 acres across 3 tracts.
    (731) 571-1270
    Request Owner's contact information
    12533 S 1St St Milan, TN 38358
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    12533 S 1St St
    Milan, TN 38358
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    12533 S 1St St Milan, TN 38358
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    David W. Nelson
    Real Estate License ID: 202015
    (731) 571-1270
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.