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    2156 Gallatin Pike Nashville, TN 37115

    Sponsored
    For Lease
    $30 SF/Yr

    Nashville Shopping Center - Prime Location

    Lot size:
    172,078 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    414
    The Shoppes at Rivergate, a Class A, 172,078 square foot power center in Nashville, TN, presents a compelling investment opportunity. This two-building, single-story center boasts 24 suites, with 8,550 square feet currently vacant, divisible into spaces ranging from 1,250 to 9,011 square feet. Built in 1986 and renovated in 2015, the property sits on 17.7 acres of land at 2156 Gallatin Pike N, 37115, with convenient access to TN Hwy 386 and the intersection of Gallatin Pike and Conference Drive. The property benefits from high traffic counts exceeding 57,000 ADT at the signalized intersection. Anchored by Sprouts Farmers Market and Starbucks, along with Gabe's and Ashley Furniture, the center enjoys a strong tenant mix including national retailers such as Walmart, Target, Dick's Sporting Goods, BJ's Wholesale Club, Best Buy, Old Navy, Guitar Center, PetSmart, DSW, and more. The property features 749 parking spaces and is served by Nashville Electric Service. Property taxes are $0.94 per square foot. The zoning is Commercial, and the APN is 02600012300. This prime retail location offers exceptional visibility and access within a thriving Nashville submarket.

    Property Features for 2156 Gallatin Pike

    General Information

    Property type
    Power centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    172,078 SF
    Class
    A
    Total Rate
    430195

    Building Details

    Year Built/Renovated
    1986/2015
    Buildings
    2
    Stories
    1

    Unit(s) available at that property

    Space
    1,250 SF
    Size
    1,250 SF
    Rate per SF
    $30
    Space
    1,500 SF
    Size
    1,500 SF
    Rate per SF
    $30
    Space
    1,250 SF
    Size
    1,250 SF
    Rate per SF
    $30
    Space
    1,750 SF
    Size
    1,750 SF
    Rate per SF
    $30
    Space
    2,750 SF
    Size
    2,750 SF
    Rate per SF
    $30
    Space
    2,800 SF
    Size
    2,800 SF
    Rate per SF
    $30
    Space
    6000 SF
    Size
    6,000 SF
    Rate per SF
    $30

    We can help!

    Listing Contact
    Wyatt Woeltje
    Wyatt Woeltje

    Learn more

    HighLights

    • Join Sprouts Farmers Market, Starbucks, and Tropical Smoothie Cafe in Nashville's thriving retail market.
    • 172,078 SF regional shopping center anchored by Sprouts, Starbucks, Gabe's, Ashley Furniture, and DSW.
    • Over 57,000 ADT.
    • Excellent co‑tenancy with Super Walmart, Target, Dick's Sporting Goods, BJ's Wholesale Club, Best Buy, Old Navy, Guitar Center, PetSmart, DSW, and Gabe's.
    Property Profile Location Intelligence

    Current Use by Public Records

    Power centers

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.6915262
    Latitude
    36.3057444

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    FAQs

    What type of property is this?
    Power center - Nashville Shopping Center - Prime Location
    Where is this power center located?
    The property is located at 2156 Gallatin Pike Nashville, TN.
    What is the lease rate?
    The lease rate is $30 SF/Yr.
    What are key features of this property?
    This property features: Join Sprouts Farmers Market, Starbucks, and Tropical Smoothie Cafe in Nashville's thriving retail market.; 172,078 SF regional shopping center anchored by Sprouts, Starbucks, Gabe's, Ashley Furniture, and DSW.; Over 57,000 ADT.
    Request Owner's contact information
    2156 Gallatin Pike Nashville, TN 37115
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    Nashville, TN 37115
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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.

    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
    2156 Gallatin Pike Nashville, TN 37115
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    We can help!
    Listing Contact
    Wyatt Woeltje
    Wyatt Woeltje
    Real Estate License ID: TN 341355
    Learn more
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