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Property profile & analytics
OFF-MARKET
Estimated value
$930,000
Drive through restaurants
2340 Elm Hl Pike Nashville, TN 37214-5118
Entity Owned
4-yr Hold
Free & Clear
Property ID
US80-0244820
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1986
Total area
1,672 SF
Lot
0.43 ac (18,731 SF)
Zoning code
CL
APN
095-11-0-124-00
UPID
US80-0244820
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
-
Waffle House Restaurant
-
Rae Foster Car Dealership Shipping Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.08M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$900k
Blend (final)
Blend
$930k
Owner & transaction history
Waffle House INC · 4 yrs held
Waffle House INC
since 2021
Last sale
$913,394
2 recorded transactions
Zoning & alternative use
CL · Nashville, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.0M
+22.8%
Commercial (general)
$840,000
+1.7%
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 Nashville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Nashville 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
$995,000
ML approach
$1,080,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$825,000
Current use
AUTO REPAIR, GARAGE
$1,015,000
Change: +23% · Conversion: Difficult
COMMERCIAL (GENERAL)
$840,000
Change: +2% · Conversion: Easy
RETAIL STORES
$775,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$930k
Range $837k – $1.02M · ±10% · vs last sale $913k (Sep 24 2021)
Last sale anchor
$913k
Sep 24 2021
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
$556 / 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
$9,827
Tax year 2023
Assessed value
$302,000
Assessed 2023
Previous assessed
$302,000
+0.0% YoY
Effective rate
3.25%
On assessed value
Assessed land
$112,400
Assessed improvement
$189,600
Land market value
$281,000
Improvement market value
$474,000
Total market value
$755,000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1986
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
1,672 SF
Lot
0.43 ac (18,731 SF)
Zoning code
CL
APN
095-11-0-124-00
UPID
US80-0244820
Jurisdiction
DAVIDSON
Zoning & alternative use
CL · Nashville, TN
Zoning CL · permitted uses
CL · Nashville, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Nashville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$825,000
AUTO REPAIR, GARAGE
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$840,000
RETAIL STORES
Est. value
$775,000
RESTAURANT Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
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
1986
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
0.43 ac
Current owner
From public records · entity-resolved
Waffle House INC
Entity
Free & Clear · 4 yrs held
Mailing address
PO BOX 6450, NORCROSS, GA 30091-6450
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 24, 2021
$913,394
Waffle House INC
Ezell LLC
Warranty Deed
—
Jul 30, 1999
$2,495,872
Ezell LLC
Treetop Enterprises INC
Grant Deed
—
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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