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    115 Neal St Martin, TN 38237
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    Property profile & analytics

    115 Neal St, Martin, TN 38237

    View on Map
    • Retail space
    • 15,034 SF
    • 140.00 lot acres
    For Sale
    $1,300,000
    View Listing →
    Commercial Property with Event Space For Sale
    $1,300,000
    12,940 SF

    Commercial Property with Event Space

    Commercial property featuring established businesses, event space, and growth potential.

    115 Neal Street, Martin, TN 38237
    View Listing
    Property ID
    US80-0994418
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Tennessee Quality Care - Hospice / Nursing Home
    • Live Oak Office / (Bike/Boat/Book/etc) Store
    • Tennessee Quality Care / Home Health Care Service
    • Martin Courtyard | Venue / Hotel & Motel / Resort

    Property Details for 115 Neal St

    Year built
    1946
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    140.00 lot acres
    Zone code
    8
    Property type
    Retail space
    APN
    092072I K 02101
    APU
    092072IK02101

    Description

    This exceptional commercial property, located at 115 Neal Street in the heart of Martin, Tennessee, presents a unique investment opportunity. Boasting a substantial 12,940 square feet of space, this single-story building, constructed in 1946 and completely remodeled, currently houses six established businesses. Its versatile layout is ideal for a variety of uses, including restaurant, bar, and medical office spaces, offering significant flexibility for future tenants or owners. The property's prime downtown location ensures high visibility and accessibility, benefiting from a strong community presence and considerable growth potential. The well-maintained infrastructure contributes to a seamless operational experience. The building sits on a lot with no specified square footage. The asking price for this remarkable property is $1,500,000. This is a rare chance to acquire a thriving commercial asset in a vibrant Tennessee town. Don't miss this opportunity to own a piece of Martin's commercial landscape. The property's zip code is 38237.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $620,000
      Market price range: $263k - $1.21M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $635,000
      Current use
      COMMERCIAL (GENERAL)
      $715,000
      Change: +13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Martin
    County
    Weakley
    State
    Tennessee
    Longitude
    -88.851
    Latitude
    36.3447
    CBSA code
    32280
    CBSA name
    MARTIN, TN MICROPOLITAN 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
    0
    $0.00
    $6,120
    $252,400
    $258,520
    -
    $15,300
    $631,000
    $646,300

    Comparable in this City

    • Value Estimation by Request
      3,552 SF

      111 Church St

      RETAIL STORES (PERSONAL SERVICES)
      111 Church St, Martin, TN 38237-2403
      View Details
    • Value Estimation by Request
      2,108 SF

      114 Church St

      RETAIL STORES (PERSONAL SERVICES)
      114 Church St, Martin, TN 38237-2404
      View Details
    • Value Estimation by Request
      2,795 SF

      112 Hyndsver Rd

      RETAIL STORES (PERSONAL SERVICES)
      112 Hyndsver Rd, Martin, TN 38237-1876
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    • Value Estimation by Request
      2,205 SF

      617 Lindell St

      RETAIL STORES (PERSONAL SERVICES)
      617 Lindell St, Martin, TN 38237-1433
      View Details
    • Value Estimation by Request
      3,399 SF

      225 Lindell St

      RETAIL STORES (PERSONAL SERVICES)
      225 Lindell St, Martin, TN 38237-1823
      View Details
    • Value Estimation by Request
      1,640 SF

      417 Lindell St

      RETAIL STORES (PERSONAL SERVICES)
      417 Lindell St, Martin, TN 38237-1819
      View Details

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      Commercial Property in Downtown Martin

      Prime commercial property with established businesses and growth potential.
      115 Neal St, Martin, TN 38237
      View Details
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      12,940 SF

      Commercial Property with Event Space

      Commercial property featuring established businesses, event space, and remodeling.
      115 Neal St, Martin, TN 38237
      View Details
    • Contact for pricing
      12,940 SF

      Commercial Property with Event Space

      Commercial property featuring established businesses, event space, and growth potential.
      115 Neal St, Martin, TN 38237
      View Details

    Similar Nearby for Lease

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      Commercial Development Land For Rent

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      Commercial Land in Martin, Tennessee

      Commercial development land available for lease in Martin, Tennessee.
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    View Listing
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    Martin, TN 38237
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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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