Former Assisted Living
For Sale
$8,920,000
Pending
4109 Gallatin Pike, Nashville, TN 37216
39-room facility on 3.49 acres, suitable for renovation.
Property Size40,652 SF
Lot Size3.49 Acres
Days on Market1399
Property Features for 4109 Gallatin Pike
General Information
Standard status
Pending
Size
40,652 SF
Lot size
3.49 Acres
Building Details
Year Built
1965
Listing Agency:
Bradford Real Estate
Listed By:
Patrick H. Waggoner · License #298232
(615) 279-5310
Source:
Tnhomesfinder
Added: Nov 15, 2022
Changed: Sep 10
Last Checked: Sep 14 at 12:44PM
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 Bradford Real Estate
Investment Insights
Based on property information with market context.
The property, formerly the Jackson Park Christian Home and later the Azalea Trace Assisted Living Facility, comprises a 39-room facility and two family homes. The Azalea Trace Assisted Living Facility is currently closed, and there is no active business on the site. The total land area is 3.49 acres, incorporating an additional 1.03-acre parcel. The building, with a size of 40652 square feet, is currently unfurnished. Buyer may wish to renovate this facility.
Key Highlights
- Substantial 3.49‑acre land parcel (includes parcel 061‑11‑0‑127.00).
- Large 39‑room facility suitable for renovation.
- Includes two family homes.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$423,731
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$8,474,620
$8.5M
Cap Rate 7%
$6,053,300
$6.1M
Cap Rate 9%
$4,708,122
$4.7M
Market Conditions
NOI Build-Up for 40,652 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$829.3K $20.40/SF
− Vacancy
−$58.9K −$1.45/SF
EGI
$770.4K $18.95/SF
− OpEx
−$346.7K −$8.53/SF
NOI
$423.7K $10.42/SF
Area
Nashville, TN
Vacancy
7.10%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$8,474,620
Cap Rate 7%
$6,053,300
Cap Rate 9%
$4,708,122
Alternative Uses
Best Use
Apartment 5plus
$6.05M
$5.30M – $7.06M
NOI $423,731 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.35M
$9.06M – $12.07M
NOI $724,419 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37216, TN
18,191
Population
9,574
Households
1.9
Avg Household Size
36
Median Age
57%
College-Educated
96%
High-School Grad
6.7 sq mi
ZIP Area
2,715
Density / Sq Mi
$82,134
Median Household Income
$54,407
Median Earnings
$1,507
Median Rent
$404,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Assisted living facility - 39-room facility on 3.49 acres, suitable for renovation.
Where is this assisted living facility located?
The property is located at 4109 Gallatin Pike Nashville, TN.
What is the asking price?
The asking price for this property is $8,920,000.
What are key features of this property?
This property features: Substantial 3.49‑acre land parcel (includes parcel 061‑11‑0‑127.00).; Large 39‑room facility suitable for renovation.; Includes two family homes.
