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    2124 Circle Dr Columbia, TN 38401
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    2124 Circle Dr, Columbia, TN 38401

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    • Mixed-use properties
    • 2,552 SF
    • 0.56 lot acres
    For Sale
    $527,900
    View Listing →
    Historic Columbia Mixed-Use Gem For Sale
    $527,900
    2,552 SF

    Historic Columbia Mixed-Use Gem

    Versatile 4BR, 2BA home, huge potential!

    2124 Circle Dr, Columbia, TN 38401
    View Listing
    Property ID
    US80-0328702
    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

    • The Magnolia Inn / Hotel & Motel

    Property Details for 2124 Circle Dr

    Year built
    1933
    Lot size
    0.56 lot acres
    Property type
    Mixed-use properties

    Description

    This stunningly renovated historic home at 2124 Circle Drive in Columbia, Tennessee, presents a unique opportunity for both residential and commercial use. Zoned CD-4C by the City of Columbia, this property seamlessly blends historic charm with modern functionality. The 2,552 square foot home sits on a sizable 0.56-acre lot, offering ample space for expansion or outdoor amenities. Currently operating as a successful short-term rental, the property boasts four bedrooms and two bathrooms, each updated with tasteful decor, fresh paint, and meticulous maintenance. The interior features beautiful hardwood floors, a newly renovated kitchen equipped with modern appliances, and newly installed replacement windows throughout. Three charming fireplaces add to the home's character and ambiance. A detached garage provides convenient storage and parking. The large lot presents significant potential for future development, whether it's adding a swimming pool or expanding parking to accommodate a commercial venture. The property's versatility makes it ideal for a variety of uses, including a coffee shop, office space, or other commercial endeavors. All details should be verified by the buyer. Furniture is available for negotiation.

    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
    Columbia
    County
    Maury County, TN
    State
    Tennessee
    Longitude
    -87.04096
    Latitude
    35.59316

    Comparable in this City

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      Downtown Mixed-Use New Construction

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      Revitalized Historic Mixed-Use Destination

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      View Details

    Similar Nearby for Sale

    • $2,250,000
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    • $720,000
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      Versatile Mixed-Use Property For Sale

      Move-in ready commercial property with vertical expansion potential.
      902 S High St, Columbia, TN 38401
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    • $3,700,000

      Commercially Zoned Land Development Opportunity

      Prime 12-acre commercial land near downtown Columbia, Tennessee.
      194 Theta Pike, Columbia, TN 38401
      View Details
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      38,580 SF

      Commercial Property on Harley Davidson Blvd

      Versatile commercial property with high visibility and strategic location.
      1616 Harley Davidson Blvd, Columbia, TN 38401
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      Prime Development Property in Columbia

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      Revitalized Historic Mixed-Use Destination

      Thriving mixed-use destination in Columbia, Tennessee with leasable space.
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      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
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      Prime Columbia Industrial Space

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      Premier Retail Opportunity in Columbia

      New retail space in a high-traffic, growing downtown area.
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      Office Space Available For Rent

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      Retail Space in Columbia, TN

      Food Lion-anchored shopping center with limited competition.
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      1,400 SF

      Fenced Acreage Near Key Routes

      10.66 acres for rent near major transportation routes.
      1742 Monsanto Rd, Columbia, TN 38401
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      Land For Rent Columbia

      Land available for rent in Columbia, Tennessee.
      2532 Nashville Hwy, Columbia, TN 38401
      View Details
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    Columbia, TN 38401
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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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