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Property profile & analytics
OFF-MARKET
Estimated value
$2,030,000
Strip malls
116 3rd S Ave Nashville, TN 37201-2002
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US80-1082301
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1920
Total area
8,346 SF
Lot
0.1 ac (4,356 SF)
Zoning code
MULTI-ZONE
APN
093-06-4-056-00
UPID
US80-1082301
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Street Jonathan A Law Firm
-
Consumer Justice Group Law Firm
-
Montgomery Mueller Shop Cafe & Coffee Shop
-
Goo Goo Chocolate Co Specialty Food Shop Candy Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.84M
Comparable Approach
Comparable
$1.41M
Blend (final)
Blend
$2.03M
Owner & transaction history
116 Third Avenue South LLC · 12 yrs held
116 Third Avenue South LLC
since 2014
7 recorded transactions
Zoning & alternative use
MULTI-ZONE · Nashville, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$2.9M
+20.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Nashville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Nashville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,990,000
6.5%
$1,835,000
7%
$1,705,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$2,415,000
Current use
MEDICAL BUILDING
$2,915,000
Change: +21% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,055,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$2.03M
Range $1.83M – $2.23M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$243 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$59,486
Tax year 2023
Assessed value
$1,758,160
Assessed 2023
Previous assessed
$1,758,160
+0.0% YoY
Effective rate
3.38%
On assessed value
Assessed land
$777,600
Assessed improvement
$980,560
Land market value
$1,944,000
Improvement market value
$2,451,400
Total market value
$4,395,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1920
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
8,346 SF
Lot
0.1 ac (4,356 SF)
Zoning code
MULTI-ZONE
APN
093-06-4-056-00
UPID
US80-1082301
Jurisdiction
DAVIDSON
Zoning & alternative use
MULTI-ZONE · Nashville, TN
Zoning MULTI-ZONE · permitted uses
MULTI-ZONE · Nashville, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Nashville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.1M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1920
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.1 ac
Current owner
From public records · entity-resolved
116 Third Avenue South LLC
Entity
Mailing address
715 MASSMAN DR, NASHVILLE, TN 37210-3723
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 4, 2014
$1,850,000
116 Third Avenue South LLC
Higgins,james S
Warranty Deed
—
Jul 5, 2007
—
James S Higgins
—
Trustees Deed
related
$700,000 · Wilson Bank & Trust
Jun 21, 2002
$315,000
Richard D Piliponis
Wackenhuth,katharine L
Grant Deed
$315,000 · Southtrust Bank NA
Jun 3, 1996
$35,000
David William Dr White
—
Grant Deed
related
—
—
—
James S Higgins
—
Deed Of Trust
related
$419,331 · Wilson Bank & Trust
—
—
Richard D Piliponis
—
Deed Of Trust
related
$797,100 · Wilson Bank & Trust
—
—
Janes Higgins
—
Deed Of Trust
related
$140,000 · Southtrust Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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