Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Land Suitable for Multifamily Development Title is generated by Realmo AI

    3209 Old Hickory Blvd, Old Hickory, TN 37138

    View on Map
    Claim this Listing
    For Sale
    $2,100,000

    Land zoned MUL, suitable for apartments or townhomes up to four stories.

    Added:
    Apr 27, 2025
    Days on Market:
    402
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 3209 Old Hickory Blvd

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    SAMUEL PARKER

    Listing agent SAMUEL PARKER

    Listing office REGAL REALTY GROUP

    Listing date Apr 27, 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 REGAL REALTY GROUP

    HighLights

    • Zoned MUL: Allows for diverse development options.
    • Development Potential: Suitable for apartment or townhome community.
    • Up to 4 Stories: Potential for multi‑level construction.
    • Former Mobile Home Park: Site is already cleared (mostly).
    • Cleared Site: Most mobile homes have been removed.
    • Existing Mobile Home: One mobile home remains on site.

    Overview

    This property, formerly a mobile home park, is zoned MUL and allows for construction up to four stories. The highest and best use of the property would be the development of a small apartment community. Alternatively, the property could be used for a townhome community, subject to approval.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lester J Dill ... Landscaping

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Old Hickory
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.6363
    Latitude
    36.245

    Nearby Similar for Sale

    • $999,999
      1,064 SF

      Old Hickory Land For Sale

      9 acres in Wilson County, TN, near Old Hickory Lake.
      1586 Needmore Road, Old Hickory, TN 37138
      View Details
    • $370,000
      1,250 SF

      Lebanon Pike Retail/Office Opportunity

      Move-in ready commercial space on Lebanon Pike with high visibility.
      4979B Lebanon Pike, Old Hickory, TN 37138
      View Details
    • $422,000
      1,475 SF

      Lebanon Pike Commercial Unit

      Remodeled commercial unit on Lebanon Pike, move-in ready.
      4979A Lebanon Pike, Old Hickory, TN 37138
      View Details
    • $409,900
      1,740 SF

      Mixed-Use Property For Sale

      Well-maintained commercial property with office and retail spaces.
      1202 Donelson Ave, Old Hickory, TN 37138
      View Details
    • $2,000,000
      12,400 SF

      Corner Lot Commercial Investment Property

      Commercial corner lot with potential in high-traffic area.
      2601 Old Hickory Blvd, Old Hickory, TN 37138
      View Details
    • $850,000

      Prime Commercial Land in Old Hickory

      0.43-acre commercial parcel in the heart of Old Hickory Village.
      1507 Robinson Rd, Old Hickory, TN 37138
      View Details
    • $250,000

      Commercially Zoned Land Parcel

      Commercially zoned land parcel in a developing area.
      114 Broadway, Old Hickory, TN 37138
      View Details
    • $1,500,000
      6,620 SF

      Unique Commercial Property in Old Hickory

      Corner lot with historic building in developing Old Hickory market.
      1700 Hadley Ave, Old Hickory, TN 37138
      View Details
    • $250,000

      Commercial Lot on Busy Highway

      Commercial lot zoned for mixed use, convenient to highway.
      2609 Old Hickory Blvd, Old Hickory, TN 37138
      View Details
    • $199,000

      Commercial Lot in High Traffic Area

      Commercial lot in a rapidly expanding, high-traffic area.
      2615 Old Hickory Blvd, Old Hickory, TN 37138
      View Details
    • $110,000

      Commercial Lot in Old Hickory

      Commercial lot near Old Hickory Blvd and I-40.
      104 26th St, Old Hickory, TN 37138
      View Details
    • $2,500,000
      384 SF

      Corner Lot on Old Hickory

      Corner lot in high-traffic area, recently leased as automotive lot.
      2617 Old Hickory Blvd, Old Hickory, TN 37138
      View Details

    FAQs

    What type of property is this?
    Apartment building - Land zoned MUL, suitable for apartments or townhomes up to four stories.
    Where is this apartment building located?
    The property is located at 3209 Old Hickory Blvd Old Hickory, TN.
    What is the asking price?
    The asking price for this property is $2,100,000.
    What are key features of this property?
    This property features: Zoned MUL: Allows for diverse development options.; Development Potential: Suitable for apartment or townhome community.; Up to 4 Stories: Potential for multi‑level construction.
    (615) 499-5864
    We can help!
    Listing Contact
    SAMUEL PARKER
    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

    Thank You for Inquiry
    3209 Old Hickory Blvd, Old Hickory, TN 37138
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!