Mixed-Use Property with Day Care
2618 Buchanan St, Nashville, TN 37208
For Sale
$899,900
The property includes two adjoining parcels, with recent BZA approval for day care use.
Property Size2,200 SF
Lot Size0.40 Acres
Days on Market18
Property Features for 2618 Buchanan St
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Realty of America
Listed By:
Jim A Attar · License #253617
(615) 423-8989
Source:
Chordrealestate
Added: Oct 21
Changed: Nov 7
Last Checked: Nov 7 at 12:54PM
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 Realty of America
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Investment Insights
Based on property information with market context.
This mixed-use property consists of two separable parcels, each measuring 0.2 acres. One parcel contains a building, while the adjoining parcel is vacant. The building dates to 1950.
Recent BZA approval supports day care use. Church, cultural center, and schooling uses are also identified for the property.
Recent BZA approval supports day care use. Church, cultural center, and schooling uses are also identified for the property.
Key Highlights
- Two separable parcels, each 0.2 acres
- Building and adjoining lot
- Recent BZA approval for day care facility
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,730
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$534,600
$534.6K
Cap Rate 7%
$381,857
$381.9K
Cap Rate 9%
$297,000
$297.0K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$47.5K $21.60/SF
− Vacancy
−$4.8K −$2.16/SF
EGI
$42.8K $19.44/SF
− OpEx
−$16.0K −$7.29/SF
NOI
$26.7K $12.15/SF
Area
Nashville, TN
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$534,600
Cap Rate 7%
$381,857
Cap Rate 9%
$297,000
Alternative Uses
Best Use
Mixed Use
$381.9K
$334.1K – $445.5K
NOI $26,730 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$560.1K
$490.1K – $653.4K
NOI $39,204 @ 7.0% cap · market cap 4.36%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
369
Businesses Nearby
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Business Placement
Demographics for 37208, TN
21,609
Population
10,793
Households
2
Avg Household Size
30
Median Age
50%
College-Educated
91%
High-School Grad
4.8 sq mi
ZIP Area
4,502
Density / Sq Mi
$62,682
Median Household Income
$41,510
Median Earnings
$1,527
Median Rent
$417,200
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Nashville, TN
Properties on Market for Mixed-use properties in Nashville
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property includes two adjoining parcels, with recent BZA approval for day care use.
Where is this mixed-use property located?
The property is located at 2618 Buchanan St Nashville, TN.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Two separable parcels, each 0.2 acres; Building and adjoining lot; Recent BZA approval for day care facility
