Add Listing
    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

    231 Theta Pike Columbia, TN 38401

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $6,750,000

    45+/- acres for commercial development on a prime corner.

    Lot size:
    45.00 Acres

    Property Features for 231 Theta Pike

    General Information

    Standard status
    Active
    Lot size
    45.00 Acres

    We can help!

    Listing Contact
    Debbie Matthews
    Source: Corcoran

    Listing Agency: NASHVILLE REALTY GROUP Listing Agent: Debbie Matthews

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

    Learn more

    Overview

    Prime Corner Commercial Development Land

    This offering presents an opportunity to acquire approximately 45 acres of land suitable for commercial development. The property is located on a prime corner at Theta Pike and US Highway 43, offering significant road frontage. Specifically, the site features an estimated 2000 feet bordering US Highway 43, 1300 feet bordering the Duck River, and 584 feet bordering Theta Pike. The land is currently zoned Agriculture Residential, but it can be rezoned to CD-4C, according to the Planning and Zoning Department. CD-4C zoning allows for a range of potential uses, including church, retail, residential, box store, civic building or space, school, indoor recreation, and business office. Electric and water utilities are available. Sewer access is located across both properties; a sewer map is available for review. The sale includes two separate properties identified by tax ID numbers 090 004.00 (231 Theta) and 090 003.00 (0 Theta).
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center 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
    Columbia
    County
    Maury
    State
    Tennessee
    Longitude
    -87.02932
    Latitude
    35.635986

    Nearby Similar for Sale

    • $799,000
      1,752 SF

      Drive-Thru Restaurant Opportunity

      Drive-thru restaurant for sale in Columbia, Tennessee.
      1334 Trotwood Ave, Columbia, TN 38401
      View Details
    • $774,900
      4,486 SF

      Auto Repair Shop For Sale

      Established auto repair and body shop with room to grow.
      6522 Polk Ln, Columbia, TN 38401
      View Details
    • $495,000
      1,548 SF

      Downtown Commercial Space Opportunity

      Commercial space near Columbia city square with potential business opportunities.
      705 Dunnington St, Columbia, TN 38401
      View Details
    • $870,000
      5,310 SF

      Commercial Building with Rental Income

      Commercial building with tenants, generating income, zoned CD-4C.
      2019 S Main St, Columbia, TN 38401
      View Details
    • $2,800,000

      Shoppes at Brookmeade Retail Center

      Retail center in Columbia, TN with strong demographics and accessibility.
      2150 Brookmeade Dr, Columbia, TN 38401
      View Details
    • $600,000
      4,200 SF

      Highway Frontage Commercial Building

      4200 sqft building on nearly two acres.
      3990 Highway 431, Columbia, TN 38401
      View Details
    • $895,000
      5,310 SF

      Commercial Building with Rental Income

      Investment property featuring a 5310 sq ft commercial building.
      2019 S Main St, Columbia, TN 38401
      View Details
    • $1,589,000
      5,200 SF

      Commercial Property with Shop on Two Acres

      Two commercial properties with shop, totaling two acres.
      2501 Precast Dr N, Columbia, TN 38401
      View Details
    • $600,000
      4,150 SF

      Versatile Commercial Building in Columbia

      4,150 sq ft commercial/office building in a thriving location.
      509 N High St, Columbia, TN 38401
      View Details
    • $2,000,000

      Industrial Property on Highway 50

      Industrial property with distribution capabilities, convenient highway access.
      1217 Tradewinds Dr, Columbia, TN 38401
      View Details
    • $6,200,000
      21,980 SF

      Downtown Performance-Driven Commercial Space

      New construction showroom/retail space in prime downtown location.
      702 Woodland St, Columbia, TN 38401
      View Details
    • Contact for pricing
      8,550 SF

      Columbia TN Flex Building

      8,550 SF flex building on 1.7 acres in Columbia, TN.
      208 Bear Commerce Dr, Columbia, TN 38401
      View Details

    FAQs

    What type of property is this?
    Commercial land - 45+/- acres for commercial development on a prime corner.
    Where is this commercial land located?
    The property is located at 231 Theta Pike Columbia, TN.
    What is the asking price?
    The asking price for this property is $6,750,000.
    What are key features of this property?
    This property features: - Prime corner location at Theta Pike and US Hwy 43, ideal for commercial development.; - 45 +/- acres consisting of two separate properties being sold together.; - Potential for rezoning to CD-4C, allowing for diverse commercial and residential uses.
    (615) 261-8116
    Request Owner's contact information
    231 Theta Pike Columbia, TN 38401
    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.
    231 Theta Pike
    Columbia, TN 38401
    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
    231 Theta Pike Columbia, TN 38401
    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
    Debbie Matthews
    (615) 261-8116 (615) 476-3224
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!