Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1045 S Water Ave Gallatin, TN 37066

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $325,000

    Level lot in prime location suitable for commercial development.

    Added:
    Apr 21, 2025
    Days on Market:
    375
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 1045 S Water Ave

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    BERNIE GALLERANI
    BERNIE GALLERANI

    Listing agent BERNIE GALLERANI

    Listing office BERNIE GALLERANI REAL ESTATE

    Listing date Apr 21, 2025

    Source Corcoran

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of BERNIE GALLERANI REAL ESTATE

    Overview

    Prime Commercial Lot Opportunity

    This property features an almost one-acre level lot situated in a prime location near a school, church, shopping, and restaurants. It offers convenient access to Highways 109, 31E, and 386. The lot benefits from road frontage on two sides, specifically Water Avenue and Woods Ferry Road. The property presents an opportunity to establish a business. While tax records indicate residential zoning, documentation confirms rezoning for commercial use. Located in Sumner County, this lot is positioned to benefit from the area's growth.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Gallatin
    County
    Sumner
    State
    Tennessee
    Longitude
    -86.4402
    Latitude
    36.3705

    Nearby Similar for Sale

    • $595,000
      3,156 SF

      Downtown Gallatin Commercial Property

      Versatile commercial property with warehouse, office space, and expansion potential.
      141 E Eastland St, Gallatin, TN 37066
      View Details
    • $700,000
      6,300 SF

      Versatile Commercial Space with Potential

      Open layout with stage, kitchen, banquet area, and offices.
      266 Morrison St, Gallatin, TN 37066
      View Details
    • $325,000
      2,585 SF

      Gallatin Land for Sale

      Corner lot with high visibility in growing Gallatin area.
      1029 Woods Ferry Rd, Gallatin, TN 37066
      View Details
    • $399,000

      Mini-Farm Retreat Near Downtown

      3.1 acres, 3BR home, barn, and homestead potential.
      1679 E Broadway, Gallatin, TN 37066
      View Details
    • $3,000,000
      2,300 SF

      Established Auto Business For Sale

      Turnkey auto shop, mechanic, and towing business with real estate.
      461 S Water Ave, Gallatin, TN 37066
      View Details
    • $649,000

      Gallatin Land Tracts For Sale

      Available land tracts suitable for retail or office development.
      950 Memory Ln, Gallatin, TN 37066
      View Details
    • $649,900

      Gallatin Land Tracts For Sale

      Prime commercial land tracts available in Gallatin, Tennessee.
      951 Memory Ln, Gallatin, TN 37066
      View Details
    • $300,000
      7,554 SF

      Gallatin Mixed-Use Redevelopment Opportunity

      Mixed-use property in Gallatin with redevelopment potential on rapidly growing north side.
      227 Dorothy Jordan Ave, Gallatin, TN 37066
      View Details
    • $4,356,000
      10 SF

      High-Traffic Commercial Land Opportunity

      Commercial land for retail development at a lighted intersection.
      1095 Long Hollow Pike, Gallatin, TN 37066
      View Details
    • $4,100,000

      Sumner County Fairgrounds Land Opportunity

      Land in the heart of Gallatin, known as Sumner County Fairgrounds.
      221 Fairground Rd, Gallatin, TN 37066
      View Details
    • $1,890,000
      241,322 SF

      Prime Commercial Land Opportunity

      5.54 acres in desirable area, excellent frontage and exposure.
      1677 Greenlea Blvd, Gallatin, TN 37066
      View Details
    • $719,900
      3,375 SF

      Gallatin Office/Medical Space For Sale

      Office or medical space for sale near Sumner Regional Hospital.
      612 Hartsville Pike, Gallatin, TN 37066
      View Details

    FAQs

    What type of property is this?
    Commercial land - Level lot in prime location suitable for commercial development.
    Where is this commercial land located?
    The property is located at 1045 S Water Ave Gallatin, TN.
    What is the asking price?
    The asking price for this property is $325,000.
    What are key features of this property?
    This property features: Prime location near school, church, shopping, and restaurants.; Almost 1 acre level lot.; Rezoned for commercial use (see attached document).
    (615) 438-6658
    We can help!
    Listing Contact
    BERNIE GALLERANI
    BERNIE GALLERANI
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!