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    2248 Nashville Hwy Columbia, TN 38401

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    For Sale
    Contact for pricing

    Prime Commercial Land in Growing Columbia, TN

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    These exceptional commercial land parcels, located at 2248 Nashville Highway in Columbia, Tennessee (zip code 38401), offer a unique investment opportunity within the thriving Honey Farms mixed-use development. The parcels range in size from 1 to 5.85 acres and are zoned for commercial use, providing flexibility for a variety of development projects. Situated on the north side of Columbia, this location benefits from significant traffic volume, with a recorded 43,568 vehicles passing daily on Nashville Highway directly in front of the property. To further enhance accessibility and visibility, a traffic signal is planned for installation at the intersection of Nashville Highway and Honey Farms Way. The surrounding Honey Farms development is already a vibrant community, boasting over 355 existing homes and townhomes, with plans approved for an additional 800+ residential units. This established residential base provides a strong foundation for commercial success, ensuring a substantial customer base for any future development. The parcels present a compelling opportunity to capitalize on the continued growth and high traffic count in this desirable area of Maury County, Tennessee. The property's prime location and the ongoing expansion of the Honey Farms development make this an exceptional investment prospect for businesses seeking high visibility and access to a large, established residential population. Detailed site plans and zoning information are available upon request.

    Property Features for 2248 Nashville Hwy

    General Information

    Property type
    Land

    HighLights

    • Multiple commercial land parcels totaling 1 to 5.85 acres available in Columbia, TN (zip code 38401).
    • Located within the Honey Farms mixed‑use development on Nashville Highway.
    • High traffic count: 43,568 vehicles daily.
    • Planned traffic signal at Nashville Highway and Honey Farms Way intersection.
    • Surrounded by over 355 existing homes, with plans for 800+ more.
    • Zoned for commercial use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Building Supply Dental Office Auto Repair Shop Department Store Kitchen & Bath Discount Store Electrical Service Cafe & Coffee Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbia
    County
    Maury
    State
    Tennessee
    Longitude
    -86.9845608
    Latitude
    35.6896049

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    FAQs

    What type of property is this?
    Land - Prime Commercial Land in Growing Columbia, TN
    Where is this land located?
    The property is located at 2248 Nashville Hwy Columbia, TN.
    What are key features of this property?
    This property features: Multiple commercial land parcels totaling 1 to 5.85 acres available in Columbia, TN (zip code 38401).; Located within the Honey Farms mixed-use development on Nashville Highway.; High traffic count: 43,568 vehicles daily.
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    2248 Nashville Hwy Columbia, TN 38401
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    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.

    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
    2248 Nashville Hwy Columbia, TN 38401
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