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Property profile & analytics
OFF-MARKET
Estimated value
$8,100,000
Strip malls
2054 Gallatin N Pike, Madison, TN 37115-2002
Individually Owned
1-yr Hold
Free & Clear
Property ID
US80-1664776
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1981
Total area
34,230 SF
Lot
6.56 ac (285,754 SF)
Zoning code
MULTI-ZONE
APN
026-14-0-045-00
UPID
US80-1664776
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
-
Magic Moments Therapy Physician
-
We Rock The Spectrum - Nashville / Madison Family Recreation Center
-
The Village at RiverGate Shopping Center & Mall
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.10M
CAP Approach
CAP
$11.29M
Comparable Approach
Comparable
$5.00M
Blend (final)
Blend
$8.10M
Owner & transaction history
Mohamed Abdel Khalik · 1 yrs held
Mohamed Abdel Khalik
since 2025
Last sale
$8.1M
7 recorded transactions
Zoning & alternative use
MULTI-ZONE · Madison, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$9.7M
+32.2%
Apartment house (5+ units)
$7.7M
+5.5%
Office building
$7.5M
+3.2%
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 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
$8,100,000
ML approach
$8,100,000
CAP Approach
CAP Return
Estimation
6%
$12,225,000
6.5%
$11,285,000
7%
$10,480,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$7,300,000
Current use
MEDICAL BUILDING
$9,655,000
Change: +32% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$7,705,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$7,535,000
Change: +3% · Conversion: Moderate
Blend value · Realmo final
$8.10M
Range $7.29M – $8.91M · ±10% · vs last sale $8.10M (Jan 12 2024)
Last sale anchor
$8.10M
Jan 12 2024
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
$237 / 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
$153,191
Tax year 2023
Assessed value
$5,242,680
Assessed 2023
Previous assessed
$4,023,960
+30.3% YoY
Effective rate
2.92%
On assessed value
Assessed land
$857,280
Assessed improvement
$4,385,400
Land market value
$2,143,200
Improvement market value
$10,963,500
Total market value
$13,106,700
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
1981
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
34,230 SF
Lot
6.56 ac (285,754 SF)
Zoning code
MULTI-ZONE
APN
026-14-0-045-00
UPID
US80-1664776
Jurisdiction
DAVIDSON
Zoning & alternative use
MULTI-ZONE · Madison, TN
Zoning MULTI-ZONE · permitted uses
MULTI-ZONE · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$7.3M
MEDICAL BUILDING
Est. value
$9.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$7.7M
OFFICE BUILDING
Est. value
$7.5M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL BUILDING
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
1981
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
2
Lot
6.56 ac
Current owner
From public records · entity-resolved
Mohamed Abdel Khalik
Individual
Free & Clear · 1 yrs held
Mailing address
2054 GALLATIN PIKE N, MADISON, TN 37115-2002
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 23, 2025
—
Mohamed Abdel Khalik
Tanveer A Naseeruddin
Quitclaim Deed
related
—
Jan 12, 2024
—
Mohamed Abdel Khalik
Mohamed Abdel Khalik
Quit Claim Deed
related
—
Apr 18, 2023
$8,100,000
Mohamed Abdel Khalik
Kdi Rivergate Center LLC
Special Warranty Deed
$6,642,000 · Bank Of Tennessee
Oct 26, 2020
—
Kdi Rivergate Mall LLC
—
Deed
related
$26,290,000 · Aff III Hendon LLC
Feb 5, 2019
—
Kdi Rivergate Mall LLC
—
Loan Modification
related
$150,150,000 · N1 Hendon Holdings LLC
Sep 5, 2013
$8,650,000
Kdi Rivergate Center LLC
Village Of Rivergate LP
Grant Deed
—
Jul 2, 1998
$5,245,132
Village At Rivergate LP
Nashland Associates
Trustees Deed
$182,700,000 · Midland Loan Services LP
Jul 2, 1998
—
Rivergate Mall LP
Nashland Associates
Trustees Deed
related
—
—
—
Kdi Rivergate Mall LLC
—
Deed Of Trust
related
$26,290,000 · Aff III Hendon LLC
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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