Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1609 Murfreesboro Pike Nashville, TN 37217-2924

    • Strip malls
    • 5,616 SF
    • 1.86 lot acres
    OFF-MARKET
    Value Estimations
    $430,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0730819
    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.

    Current Use by Public Records

    • Gene's Barber Shop / Barber Shop
    • Nashville Disc Golf Store / Sporting Goods Store / Store
    • West Coast Taco Shop / Mexican Restaurant / Taco Restaurant
    • By The Blade Salon / Hair Salon

    Property Details for 1609 Murfreesboro Pike

    Year built
    1966
    Lot size
    1.86 lot acres
    Property size
    5,616 SF
    Zone code
    CS
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    120-16-0-001-00
    APU
    12016000100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $469,000
      Market price range: $206k - $469k

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.6712
    Latitude
    36.1047
    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
    $16,835
    $243,080
    $274,280
    $517,360
    -
    $607,700
    $685,700
    $1,293,400

    Comparable in this City

    • Value Estimation
      $850,000
      36,582 SF

      2621 Lakevilla Dr

      SHOPPING CENTER, STRIP CENTER • 36,582 SF
      2621 Lakevilla Dr, Nashville, TN 37217
      View Details
    • Value Estimation
      $490,000
      15,596 SF

      2500 Murfreesboro Pike

      SHOPPING CENTER, STRIP CENTER • 15,596 SF
      2500 Murfreesboro Pike, Nashville, TN 37217-3597
      View Details
    • Value Estimation
      $435,000
      12,158 SF

      2817 Smith Spgs Rd

      SHOPPING CENTER, STRIP CENTER • 12,158 SF
      2817 Smith Spgs Rd, Nashville, TN 37217
      View Details
    • Value Estimation
      $250,000
      6,909 SF

      327 Rural Hl Rd

      SHOPPING CENTER, STRIP CENTER • 6,909 SF
      327 Rural Hl Rd, Nashville, TN 37217-3838
      View Details
    • Value Estimation
      $410,000
      11,200 SF

      2609 Murfreesboro Pike

      SHOPPING CENTER, STRIP CENTER • 11,200 SF
      2609 Murfreesboro Pike, Nashville, TN 37217-3505
      View Details
    • Value Estimation
      $205,000
      10,160 SF

      974 Murfreesboro Pike

      SHOPPING CENTER, STRIP CENTER • 10,160 SF
      974 Murfreesboro Pike, Nashville, TN 37217-1502
      View Details

    Similar Nearby for Sale

    • $339,900
      1,968 SF

      Renovated House in Desirable Location

      Renovated house with new hardwood floors, close to airport.
      104 Nashboro Grns, Nashville, TN 37217
      View Details
    • Contact for pricing
      140 SF

      Creative Studio Space Available

      Centrally located creative complex with studios for artists and makers.
      309 Plus Park Blvd, Nashville, TN 37217
      View Details
    • $350,000
      1,832 SF

      Freshly Painted Home with Warranty

      Home with fresh paint, island kitchen, and warranty coverage.
      2656 Lakevilla Dr, Nashville, TN 37217
      View Details
    • Contact for pricing
      240 SF

      Creative Studios for Artists/Makers

      Centrally located creative complex with studios for artists and makers.
      309 Plus Park Blvd, Nashville, TN 37217
      View Details
    • $180,000
      1,251 SF

      Tranquil Home Near the Lake

      Charming home in gated community with many amenities and lake access.
      4001 Anderson Rd, Nashville, TN 37217
      View Details
    • $499,900
      1.50 Acres

      1.5 AC Development for Retail/Office or Modify for Residential Living buildout

      1.5 AC Development for Retail/Office or Modify for Residential Living buildout
      2616 Martway Drive, Nashville, TN 37217
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      21,871 SF

      Nashville Retail Center Investment Opportunity

      Prime Nashville retail space available.
      474 Bell Rd, Nashville, TN 37217
      View Details
    • Contact for pricing
      4,200 SF

      Retail Space in Kroger-Anchored Center

      Retail space available in high-visibility Nashville shopping center.
      2264-2290 Murfreesboro Pike, Nashville, TN 37217
      View Details
    • Contact for pricing

      Office and Retail Space Available

      Office and retail spaces for rent with variable sizes.
      2131 Murfreesboro Pike, Nashville, TN 37217
      View Details
    • Contact for pricing
      10,000 SF

      Nashville Retail Ground Lease

      Prime 1-Acre Retail Site, High Traffic
      1161 Murfreesboro Pike, Nashville, TN 37217
      View Details
    • $25 SF/Yr
      1,798 SF

      Retail Space on Murfreesboro Pike

      Retail space available for lease on Murfreesboro Pike.
      1204 Murfreesboro Pike, Nashville, TN 37217
      View Details
    • $7 SF/Yr
      2,453 SF

      Retail Space on Murfreesboro Pike

      Retail space with high visibility and ample parking.
      2510 Murfreesboro Pike, Nashville, TN 37217
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1609 Murfreesboro Pike
    Nashville, TN 37217-2924
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.