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 Market1467
Property Features for 4109 Gallatin Pike
General Information
Standard status
Pending
Size
40,652 SF
Lot size
3.49 Acres
Site & Location
Neighborhood
East Nashville
Building Details
Year Built
1965
Listing Agency:
Bradford Real Estate
Listed By:
Patrick H. Waggoner · License #298232
(615) 218-1655
Source:
Tnhomesfinder
Added: Oct 24, 2022
Changed: Oct 25
Last Checked: Oct 28 at 8:44AM
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
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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 / Yr
$423,731
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Under-served
Demand for This Use
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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.
