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Property profile & analytics
OFF-MARKET
Estimated value
$5,535,000
Showrooms
2431 Gallatin N Pike Madison, TN 37115-2009
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US80-0861535
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1990
Total area
8,368 SF
Lot
6.42 ac (279,655 SF)
Zoning code
CS
APN
026-12-0-014-00
UPID
US80-0861535
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
-
Hallmark Automotive Group Car Dealership
-
Volkswagen of North Nashville Car Dealership
-
Mitsubishi Dealership Shopping Center & Mall
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.60M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.06M
Blend (final)
Blend
$5.54M
Owner & transaction history
Grover C Carlock JR. · 5 yrs held
Grover C Carlock JR.
since 2020
Last sale
$3.9M
5 recorded transactions
Zoning & alternative use
CS · Madison, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.2M
+5.1%
Auto repair, garage
$4.1M
+3.4%
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
by Request
ML approach
$4,595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,960,000
Current use
RESTAURANT
$4,160,000
Change: +5% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,095,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$3,545,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$5.54M
Range $4.98M – $6.09M · ±10% · vs last sale $3.90M (Aug 18 2020)
Last sale anchor
$3.90M
Aug 18 2020
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
$661 / 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
$45,583
Tax year 2023
Assessed value
$1,560,000
Assessed 2023
Previous assessed
$1,560,000
+0.0% YoY
Effective rate
2.92%
On assessed value
Assessed land
$1,090,640
Assessed improvement
$469,360
Land market value
$2,726,600
Improvement market value
$1,173,400
Total market value
$3,900,000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1990
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Stories
1
Total area
8,368 SF
Lot
6.42 ac (279,655 SF)
Zoning code
CS
APN
026-12-0-014-00
UPID
US80-0861535
Jurisdiction
DAVIDSON
Zoning & alternative use
CS · Madison, TNZoning CS · permitted uses
CS · Madison, 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
COMMERCIAL (GENERAL) Current
Est. value
$4.0M
RESTAURANT
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$4.1M
RETAIL STORES
Est. value
$3.5M
COMMERCIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1990
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Lot
6.42 ac
Current owner
From public records · entity-resolved
Grover C Carlock JR.
Individual
Mailing address
30 NORTHHAVEN DR, JACKSON, TN 38305-8112
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 18, 2023
—
Grover C Carlock JR
—
Deed
related
$8,742,000 · Renasant Bank
Aug 18, 2020
$3,900,000
Grover C Carlock JR.
Hallmark Madison LLC
Grant Deed
—
Aug 18, 2020
—
Grover C Carlock JR
Hallmark Madison LLC
Quit Claim Deed
related
—
Feb 27, 2017
—
Hallmark Madison LLC
—
Deed
related
$2,525,000 · Regions Bank
Apr 7, 1989
$563,800
J-e Properties
Unknown
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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