Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Versatile Commercial Space with Potential Title is generated by Realmo AI

    266 Morrison St, Gallatin, TN 37066

    View on Map
    Claim this Listing
    For Sale
    $700,000

    Open layout with stage, kitchen, banquet area, and offices.

    Type:Commercial
    Property size:
    6,300 SF
    Lot size:
    0.48 Acres
    Price / SF:
    $111/SF
    Added:
    Dec 29, 2025
    Days on Market:
    157
    Last Refresh:
    Apr 5 at 9:08 pm

    Property Features for 266 Morrison St

    General Information

    Standard status
    Active
    Size
    6,300 SF
    Lot size
    0.48 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1952

    We can help!

    Listing Contact
    FLORIN DUMITRESCU

    Listing agent FLORIN DUMITRESCU

    Listing office RELIANT REALTY ERA POWERED

    Listing date Dec 29, 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 RELIANT REALTY ERA POWERED

    HighLights

    • Open main level with stage area
    • New hardwood flooring on the main level
    • Lower level banquet area
    • Lower level kitchen
    • Two offices located in the lower level
    • Concession/storage area in the lower level

    Overview

    This commercial property offers a main level featuring an open layout with a stage area and new hardwood flooring throughout, along with one mixed-use bathroom. The lower level includes a kitchen, a banquet area, two offices, a concession or storage area, and restrooms. The property presents a range of possibilities for various business ventures.
    Property Profile Location Intelligence

    Current Use by Public Records

    Frontlines Church Church KevMar Athletics and Event ... Hotel & Motel

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Gallatin
    County
    Sumner
    State
    Tennessee
    Longitude
    -86.4405
    Latitude
    36.3848

    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
    • $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
    • $850,000
      8,000 SF

      Gallatin Industrial Building For Sale

      8,000 sq ft industrial building suitable for various uses.
      1126 Old Highway 109 N, 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
    • $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
    • $2,920,000
      4,584 SF

      Gallatin QSR Investment Opportunity

      Single-tenant QSR with drive-thru, long-term lease, strong tenant.
      675 Nashville Pike, Gallatin, TN 37066
      View Details
    • $1,900,000
      29,380 SF

      Gallatin Warehouse with Fenced Yards

      Warehouse with loading bays, office space, and fenced yards.
      591 N Council Ave, Gallatin, TN 37066
      View Details
    • $2,875,000

      Gallatin Retail Strip For Sale

      100% occupied retail strip with national tenants and rental increases.
      420 W Main St, Gallatin, TN
      View Details
    • $899,000
      4,704 SF

      Gallatin Mixed-Use Property For Sale

      Mixed-use property in Gallatin, steps off Nashville Pike.
      700 Lake Dr, Gallatin, TN 37066
      View Details
    • $1,700,000

      Gallatin Farmette with Development Potential

      14.47-acre farmette in Gallatin, near Liberty Creek schools and 386.
      1386 Long Hollow Pike, Gallatin, TN 37066
      View Details
    • $2,080,000
      34,524 SF

      Boat and RV Storage Facility

      Storage facility with expansion potential in Gallatin, Tennessee.
      1618B Scotty Parker Rd, Gallatin, TN 37066
      View Details

    FAQs

    What type of property is this?
    Wedding venue - Open layout with stage, kitchen, banquet area, and offices.
    Where is this wedding venue located?
    The property is located at 266 Morrison St Gallatin, TN.
    What is the asking price?
    The asking price for this property is $700,000.
    What are key features of this property?
    This property features: Open main level with stage area; New hardwood flooring on the main level; Lower level banquet area
    (615) 859-7150
    We can help!
    Listing Contact
    FLORIN DUMITRESCU
    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
    266 Morrison St, Gallatin, TN 37066
    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!