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    1401 Gallatin Ave Nashville, TN 37206-3207
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    Property profile & analytics

    1401 Gallatin Ave, Nashville, TN 37206-3207

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    • Grocery and convenience stores
    • 5,009 SF
    • 0.36 lot acres
    Off-Market
    Last Sale May 15, 2024
    $200,000
    Property ID
    US80-0068771
    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

    • Nashville's Best Floor Care and Restoration - Carpet Cleaning, Floor Care, Rug Cleaning and more! / Fire Damage Restoration Service / Tile Cleaning Service
    • Jerry's Market / Atm
    • Ali's Grill & Creations / Restaurant
    • Pandora’s Box Nashville / Cafe & Coffee Shop
    • Ultimatum Vape / Department Store

    Property Details for 1401 Gallatin Ave

    Year built
    1920
    Lot size
    0.36 lot acres
    Zone code
    CS
    Property type
    Grocery and convenience stores
    APN
    072-13-0-394-00
    APU
    7213039400

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 3, 2024 — 1401 Gallatin Pike Property Trust — Deed · related $265k · Synovus Bank
    May 15, 2024 — Samia H Zumot Jacob Husari Quit Claim Deed · related —
    Mar 2, 2007 $200,000 Market Jacks Farah Dabit Warranty Deed $48k · The Bank Of Nashville
    Jun 21, 2001 $200,000 Farah Dabit Patel,parsottam J Grant Deed $200k · Parsottam J
    Jan 13, 1995 $190,000 Parsottam J Patel Patel;,parsottam Grant Deed · related $90k · First American National Bank
    Jan 10, 1995 $190,000 Parsottam J Patel — Grant Deed · related —
    Dec 18, 1990 $67,000 C & M Enterprises Unknown Grant Deed —
    — — Jacob S Husari — Deed Of Trust · related $170k · Wilson Bk&tr

    Description

    This exceptional 884-square-foot commercial space at 1401C Gallatin Avenue in the heart of East Nashville presents a remarkable opportunity. The property features a highly desirable, versatile layout perfect for a variety of office or retail uses. Boasting 10- to 13-foot ceilings in a durable masonry building, the space offers a spacious and attractive ambiance. Ample on-site parking is available to the side and rear, along with convenient rear and side door access for staff and patrons. The property benefits from excellent visibility and accessibility, directly facing Gallatin Avenue with over 22,500 vehicles passing daily. Easy ingress and egress from Gallatin Avenue ensures convenient access for both employees and customers. The customizable floor plan includes a private bathroom and separate entrances, adding to its flexibility. Commercial Services (CS) zoning allows for a wide range of commercial activities. This location in the vibrant East Nashville neighborhood offers significant growth potential and a dynamic atmosphere. Don't miss this chance to establish your business in one of Nashville's most sought-after areas.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.7434
    Latitude
    36.1938
    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
    $12,042
    $250,920
    $119,160
    $370,080
    -
    $627,300
    $297,900
    $925,200

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    Nashville, TN 37206-3207
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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.

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