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Property profile & analytics
OFF-MARKET
Estimated value
$27,775,000
High-rise multifamily apartments
2401 Lakeshore Dr Old Hickory, TN 37138-2555
Individually Owned
2-yr Hold
Free & Clear
Property ID
US80-1318184
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2017
Construction
FRAME
Total area
72,499 SF
Lot
4.16 ac (181,210 SF)
Zoning code
MUL
APN
053-08-0-045-00
UPID
US80-1318184
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
-
The Residence at Old Hickory Lake Apartment Complex Apartment Rental Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$27.78M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$26.24M
Blend (final)
Blend
$27.78M
Owner & transaction history
Avanti Res Old Hickory Sponsor I Ll · 2 yrs held
Avanti Res Old Hickory Sponsor I Ll
since 2024
Last sale
$27.8M
4 recorded transactions
Zoning & alternative use
MUL · Old Hickory, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$36.1M
+121.0%
Auto repair, garage
$35.5M
+117.4%
Commercial (general)
$34.3M
+110.3%
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 Old Hickory submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Old Hickory 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
$27,775,000
ML approach
$27,775,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$36,060,000
Change: +121% · Conversion: Difficult
AUTO REPAIR, GARAGE
$35,470,000
Change: +117% · Conversion: Difficult
COMMERCIAL (GENERAL)
$34,305,000
Change: +110% · Conversion: Moderate
RETAIL STORES
$30,715,000
Change: +88% · Conversion: Difficult
MEDICAL BUILDING
$20,450,000
Change: +25% · Conversion: Moderate
OFFICE BUILDING
$19,960,000
Change: +22% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$18,480,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$27.78M
Range $25.00M – $30.55M · ±10% · vs last sale $27.78M (Jul 25 2024)
Last sale anchor
$27.78M
Jul 25 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
$383 / 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
$303,888
Tax year 2023
Assessed value
$10,400,000
Assessed 2023
Previous assessed
$10,400,000
+0.0% YoY
Effective rate
2.92%
On assessed value
Assessed land
$371,200
Assessed improvement
$10,028,800
Land market value
$928,000
Improvement market value
$25,072,000
Total market value
$26,000,000
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2017
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
4
Rooms
9
Bathrooms
2
Total area
72,499 SF
Lot
4.16 ac (181,210 SF)
Zoning code
MUL
APN
053-08-0-045-00
UPID
US80-1318184
Jurisdiction
DAVIDSON
Zoning & alternative use
MUL · Old Hickory, TNZoning MUL · permitted uses
MUL · Old Hickory, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$36.1M
AUTO REPAIR, GARAGE
Est. value
$35.5M
COMMERCIAL (GENERAL)
Est. value
$34.3M
RETAIL STORES
Est. value
$30.7M
MEDICAL BUILDING
Est. value
$20.5M
OFFICE BUILDING
Est. value
$20.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$18.5M
RESTAURANT
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
2017
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
4
Buildings
2
Rooms
9
Bathrooms
2
Lot
4.16 ac
Current owner
From public records · entity-resolved
Avanti Res Old Hickory Sponsor I Ll
Individual
Free & Clear · 2 yrs held
Mailing address
700 GERVAIS ST STE #275, COLUMBIA, SC 29201-5323
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 25, 2024
$27,775,000
Avanti Res Old Hickory Sponsor I Ll
2401 Lakeshore Eat LLC
Special Warranty Deed
—
Jan 11, 2016
—
2401 Lakeshore Eat LLC
2401 Lakeshore Eat LLC
Quit Claim Deed
—
Jan 6, 2016
$750,000
2401 Lakeshore Eat LLC
Corley,paul S & Nancy K
Warranty Deed
—
Jan 6, 2016
—
2401 Lakeshore Eat LLC
2401 Lakeshore Eat LLC
Quit Claim 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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