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Property profile & analytics
OFF-MARKET
Estimated value
$6,250,000
Auto shops
1198 Main St Hendersonville, TN 37075-2823
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US80-3510065
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
14,514 SF
Lot
3.5 ac (152,460 SF)
APN
083161 03900
UPID
US80-3510065
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
-
Hallmark Hyundai Auto Repair Shop
-
Hallmark Hyundai Parts Department Auto Parts Store
-
Hallmark Hyundai Service Department Auto Repair Shop Vehicle Inspection Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.46M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.67M
Blend (final)
Blend
$6.25M
Owner & transaction history
Meridian Properties LLC · 5 yrs held
Meridian Properties LLC
since 2020
Last sale
$4.4M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.4M
+70.2%
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 Hendersonville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hendersonville 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
$7,310,000
ML approach
$6,455,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$5,545,000
Current use
RESTAURANT
$9,440,000
Change: +70% · Conversion: Difficult
MEDICAL BUILDING
$5,340,000
Change: -4% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,305,000
Change: -4% · Conversion: Moderate
Blend value · Realmo final
$6.25M
Range $5.63M – $6.88M · ±10% · vs last sale $4.40M (Aug 19 2020)
Last sale anchor
$4.40M
Aug 19 2020
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
$431 / 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
$32,315
Tax year 2023
Assessed value
$962,720
Assessed 2023
Previous assessed
$962,720
+0.0% YoY
Effective rate
3.36%
On assessed value
Assessed land
$375,000
Assessed improvement
$587,720
Land market value
$937,500
Improvement market value
$1,469,300
Total market value
$2,406,800
Applied tax rate
83.0000
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
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
AC.PACKAGE
Stories
1
Units
1
Bathrooms
4
Total area
14,514 SF
Lot
3.5 ac (152,460 SF)
APN
083161 03900
UPID
US80-3510065
Jurisdiction
SUMNER
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$5.5M
RESTAURANT
Est. value
$9.4M
MEDICAL BUILDING
Est. value
$5.3M
COMMERCIAL (GENERAL)
Est. value
$5.3M
AUTO REPAIR, GARAGE Current
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
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
2009
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Units
1
Bathrooms
4
Lot
3.5 ac
Current owner
From public records · entity-resolved
Meridian Properties LLC
Entity
Mailing address
1198 W MAIN ST, HENDERSONVILLE, TN 37075-2823
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2020
$4,400,000
Meridian Properties LLC
Hallamark Gallatin LLC
Warranty Deed
$3,740,000 · Landmark Community Bank
Nov 1, 2007
$1,785,000
Hallmark Gallatin LLC
Center Point Place LLC
Grant Deed
$1,800,000 · Bank Of America
Dec 6, 2006
—
Center Point Place LLC
—
Trustees Deed
related
$989,674 · Cedarstone Bank
Jul 16, 2004
$1,000,000
Center Point Place LLC
Jb & W Family
Warranty Deed
$975,000 · Capital Bank & Trust Co
Jul 16, 2004
—
Jbe & W Family
Jbw Family Ptshp
Quit Claim Deed
related
—
Oct 28, 1999
—
J B W Family Partnership
Dorothy M Craft Trustee
Quit Claim Deed
related
—
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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