New search
Property profile & analytics
OFF-MARKET
Estimated value
$3,375,000
Warehouses
1217 Northgate Business Pkwy Madison, TN 37115-2475
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US80-0966432
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1998
Total area
21,460 SF
Lot
5.53 ac (240,887 SF)
Zoning code
IR
APN
034-11-0-034-00
UPID
US80-0966432
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
-
Rj Wherry & Associates General Contractor Renovation Specialist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.30M
Comparable Approach
Comparable
$4.01M
Blend (final)
Blend
$3.38M
Owner & transaction history
Metropolitan Government Of Nashvill · 2 yrs held
Metropolitan Government Of Nashvill
since 2024
7 recorded transactions
Zoning & alternative use
IR · Madison, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.8M
+25.2%
Office building
$4.7M
+22.5%
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 Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison 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%
$3,570,000
6.5%
$3,295,000
7%
$3,060,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,855,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,830,000
Change: +25% · Conversion: Difficult
OFFICE BUILDING
$4,725,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$3.38M
Range $3.04M – $3.71M · ±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
$157 / 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
$32,540
Tax year 2023
Assessed value
$1,000,000
Assessed 2023
Previous assessed
$1,000,000
+0.0% YoY
Effective rate
3.25%
On assessed value
Assessed land
$231,240
Assessed improvement
$768,760
Land market value
$578,100
Improvement market value
$1,921,900
Total market value
$2,500,000
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1998
Heating
SPACE
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
21,460 SF
Lot
5.53 ac (240,887 SF)
Zoning code
IR
APN
034-11-0-034-00
UPID
US80-0966432
Jurisdiction
DAVIDSON
Zoning & alternative use
IR · Madison, TN
Zoning IR · permitted uses
IR · Madison, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$3.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.8M
OFFICE BUILDING
Est. value
$4.7M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
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
1998
Heating
SPACE
Cooling
Yes
Stories
1
Buildings
2
Lot
5.53 ac
Current owner
From public records · entity-resolved
Metropolitan Government Of Nashvill
Individual
Mailing address
1600 2ND AVE N, NASHVILLE, TN 37208-2206
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 7, 2024
—
Metropolitan Government Of Nashvill
Randall J Wherry
Warranty Deed
—
Feb 20, 2024
—
Randall J Wherry
Randall Joe Wherry
Intrafamily Transfer
related
—
Nov 9, 2009
—
Randall J Wherry
—
Trustees Deed
related
$270,000 · Regions Bank
Jun 27, 2007
—
Randall J Wherry
—
Trustees Deed
related
$250,000 · Regions Bank
Jan 12, 2007
—
Randall J Wherry
—
Trustees Deed
related
$280,000 · Regions Bank
Apr 11, 2000
—
Randall J Whaerry
—
Grant Deed
related
$275,000 · Union Planters National Bank
Dec 4, 1997
$115,800
Randall J Wherry
—
Grant Deed
related
—
—
—
Randall J Wherry
—
Deed Of Trust
related
$1,029,797 · Union Planters National Bank
—
—
Randall J Wherry
—
Deed Of Trust
related
$280,000 · Union Planters National Bank
—
—
Randall J Wherry
—
Deed Of Trust
related
$530,000 · Regions Bank
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1217 Northgate Business Pkwy?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
