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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    115 Main St Portland, TN 37148-1217

    • Retail space
    • 1,748 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Jan 11, 2021
    $146,000
    Value Estimations
    $205,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-3422790
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Steve Austin Music / Musical Instrument Store / Music Instructor

    Property Details for 115 Main St

    Year built
    1900
    Lot size
    0.05 lot acres
    Property size
    1,748 SF
    Property type
    Retail space
    APN
    083033H D 03200
    APU
    083033HD03200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $185,000
      ML approach
      $195,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $261,000
      Market price range: $166k - $429k
      AI Estimate
      $206,000
      Market price range: $109k - $325k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $270,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Sumner
    State
    Tennessee
    Longitude
    -86.5149
    Latitude
    36.5804
    CBSA code
    34980
    CBSA name
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,695
    $34,480
    $15,200
    $49,680
    -
    $86,200
    $38,000
    $124,200

    Comparable in this City

    • Value Estimation
      $350,000
      2,050 SF

      76 Hwy Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,050 SF
      76 Hwy Hwy, Portland, TN 37148
      View Details
    • Value Estimation
      $335,000
      2,088 SF

      2451 Scotty Parker Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,088 SF
      2451 Scotty Parker Rd, Portland, TN 37148-8552
      View Details
    • Value Estimation by Request
      3,465 SF

      205 Broadway St

      RETAIL STORES (PERSONAL SERVICES) • 3,465 SF
      205 Broadway St, Portland, TN 37148-1301
      View Details
    • Value Estimation by Request
      3,168 SF

      202 Russell St

      RETAIL STORES (PERSONAL SERVICES) • 3,168 SF
      202 Russell St, Portland, TN 37148-1206
      View Details
    • Value Estimation
      $1,115,000
      1,400 SF

      52 Hwy Highway

      RETAIL STORES (PERSONAL SERVICES) • 1,400 SF
      52 Hwy Highway, Portland, TN 37148
      View Details
    • Value Estimation
      $310,000
      2,024 SF

      423 Broadway

      RETAIL STORES (PERSONAL SERVICES) • 2,024 SF
      423 Broadway, Portland, TN 37148-1750
      View Details

    Similar Nearby for Sale

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      9,750 SF

      Retail Property For Sale

      Retail property for sale with frontage on Broadway Street.
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    • $1,295,000
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      Portland Office Building - Highway 52

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    • $1,725,000
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      Portland Warehouse - 5 Acres

      Spacious warehouse, office space, great location.
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      338,000 SF

      Prime Portland Industrial Facility

      338,000 SF Manufacturing Plant, I-65 Access
      3150 Barry Dr, Portland, TN 37148
      View Details
    • $425,000
      3.20 Acres

      Prime Portland Commercial Land

      High-visibility 3.2-acre lot, Hwy 109 frontage.
      518 Broadway St, Portland, TN 37148
      View Details
    • $99,900

      Residential Lot with Utilities

      Ready-to-build residential lot with utilities in place.
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    Similar Nearby for Lease

    • Contact for pricing
      10,420 SF

      Retail Space in Portland Village

      Retail spaces available in a busy shopping center.
      112 W Knight St, Portland, TN 37148
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space in Portland Village

      Retail spaces available in a busy shopping center.
      100-112 W Knight St, Portland, TN 37148
      View Details
    • $6 SF/Yr
      75,360 SF

      Portland Industrial Warehouse - 73,360 SF

      7.5-acre lot, excellent condition, prime location.
      1035 Fred White Blvd, Portland, TN 37148
      View Details
    • $6 SF/Yr
      54,000 SF

      Industrial Warehouse Space Available

      54,000 SF industrial warehouse for lease in Portland, TN.
      120 Davis St, Portland, TN 37148
      View Details
    • Contact for pricing
      1,229,640 SF

      Gateway 65: Portland Industrial Warehouse

      Modern Warehouse, 1.2M+ SF, I-65 Access
      1850 Vaughn Pkwy, Portland, TN 37148
      View Details
    • Contact for pricing
      203,548 SF

      Industrial Warehouse Space in Portland

      203,548 SF warehouse space available for lease.
      1211 Vaughn Pkwy, Portland, TN 37148
      View Details
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    115 Main St
    Portland, TN 37148-1217
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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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