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    5291-5287 Airline Rd Arlington, TN 38002
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    5291-5287 Airline Rd, Arlington, TN 38002

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    • Lifestyle centers
    • 22,885 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 5291-5287 Airline Rd

    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    The Falls Shopping Center, located at 5291-5287 Airline Rd in Arlington, Tennessee (zip code 38002), presents a compelling retail investment opportunity. This shopping center offers a total of 22,885 square feet of retail space, with 12,900 square feet currently vacant and available for lease. Three spaces are immediately available, ranging in size from a minimum of 1,200 square feet to a maximum contiguous space of 3,600 square feet. The property is situated in Shelby County, at a busy intersection, providing excellent visibility and accessibility. Its strategic location directly across from a new Kroger Marketplace and Arlington High School (with an enrollment exceeding 2,100 students) ensures high foot traffic and a substantial potential customer base. This new retail development offers a unique chance to establish a presence in a thriving community with a strong demographic profile. The property is classified as a multi-tenant shopping center. The property's address is 5291-5287 Airline Rd, Arlington, TN 38002. Coordinates are 35.270113 latitude and -89.669792 longitude.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Arlington
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.6698
    Latitude
    35.2701

    Comparable in this City

    • Value Estimation by Request
      1.28 Acres

      Canada Rd

      Lifestyle centers
      0 Canada Rd, Lakeland, TN 38002
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    • Value Estimation by Request

      Sec Of Airline Rd & Milton Wilson Blvd

      Lifestyle centers
      0 Sec Of Airline Rd & Milton Wilson Blvd, Arlington, TN 38002
      View Details
    • Value Estimation
      $800,000
      6,968 SF

      5224 Airline Rd

      SHOPPING CENTER, STRIP CENTER
      5224 Airline Rd, Arlington, TN 38002-9936
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    • Value Estimation by Request
      4,514 SF

      8968 Us Hwy 64

      SHOPPING CENTER, STRIP CENTER
      8968 Us Hwy 64, Lakeland, TN 38002-4553
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    • Value Estimation by Request
      3,600 SF

      11875 Hwy 70

      SHOPPING CENTER, STRIP CENTER
      11875 Hwy 70, Arlington, TN 38002-5364
      View Details
    • Value Estimation
      $500,000
      17,430 SF

      11695 Hwy 70us

      SHOPPING CENTER, STRIP CENTER
      11695 Hwy 70us, Arlington, TN 38002-9706
      View Details

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      Prime Land in Arlington Commons

      Outparcels available in high-traffic Arlington, TN location.
      6050 Airline Rd, Arlington, TN 38002
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      51,359 SF

      Retail Property in High-Traffic Area

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      Lakeland Town Center Retail Space

      Cutting-edge shopping center in a rapidly growing market.
      4895 Seed Tick Rd, Lakeland, TN 38002
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      1,459 SF

      Retail Space in Growing Area

      Retail space with great visibility in a growing Lakeland area.
      9998 Us Highway 64, Arlington, TN 38002
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    • $9,900,000
      27.35 Acres

      Arlington Land For Sale

      27.35 acres of mixed-use development land in Arlington, TN.
      Milton Wilson Blvd, Arlington, TN 38002
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    Similar Nearby for Lease

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      Retail Space for Lease

      Retail space available for lease in Arlington, Tennessee.
      Milton Wilson Dr, Arlington, TN 38002
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      Retail Space in Lakeland, Tennessee

      New retail development at Highway 70 and Seed Tick Rd.
      70 & Seed Tick Rd, Lakeland, TN 38002
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      Retail Center Near Arlington School

      New retail center with excellent visibility and access.
      Airline Rd & Milton Wilson Blvd, Arlington, TN 38002
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      17,800 SF

      Retail Space in Proposed Center

      Retail spaces for lease in proposed 34,125 SF shopping center.
      Milton Wilson Rd & Airline Rd, Arlington, TN 38002
      View Details
    • Contact for pricing

      New Retail Development For Lease

      New shopping center near Kroger and Arlington High School.
      5291-5287 Airline Rd, Arlington, TN 38002
      View Details
    • Contact for pricing

      Retail Center Near I-40

      Retail center in Lakeland, one mile from I-40.
      9160 Us Highway 64, Arlington, TN 38002
      View Details
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    Arlington, TN 38002
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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
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