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    2598 Smithville Hwy McMinnville, TN 37110
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    2598 Smithville Hwy McMinnville, TN 37110

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    • Flex space
    • 4,400 SF
    • 7.50 lot acres
    Off-Market
    Property ID
    US80-1759361
    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

    • Flex space

    Property Details for 2598 Smithville Hwy

    Lot size
    7.50 lot acres
    Property size
    4,400 SF
    Property type
    Flex space

    Description

    This exceptional 7.5-acre commercial property, located at 2598 Smithville Highway in McMinnville, Tennessee (zip code 37110), presents a compelling investment opportunity. The property boasts a total of 4,400 square feet, encompassing over 2,200 square feet of office space and an additional 2,200 square feet of full basement space ideal for storage or expansion. Currently operating under a Net Lease (NN+) agreement with a single tenant, the lease commenced March 1, 2023, and expires March 1, 2025, generating a Net Operating Income (NOI) of $4,200 and a 5.00% cap rate. The property is classified as Class B and features a convenient location just outside McMinnville city limits, providing over 446 feet of frontage on Highway 56. Zoned for commercial use, it benefits from McMinnville City Utilities sewer service while only incurring county taxes. The property includes two driveways—a large, paved 65-foot driveway and additional level graveled land—enhancing accessibility and functionality. The asking price is $995,000. This versatile property offers significant potential for various commercial uses.

    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
    McMinnville
    County
    Warren
    State
    Tennessee
    Longitude
    -85.783943028577
    Latitude
    35.7174143439

    Comparable in this City

    • $325,000

      Commercial Building with Office Space

      Large commercial building featuring office space and warehouse area.
      869 Underwood Rd, Mc Minnville, TN 37110
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      Historic McMinnville Commercial Property

      Commercial property with two buildings in historic McMinnville, Tennessee.
      202 W Morford St, Mc Minnville, TN 37110
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    • $499,000
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      Versatile Commercial Building in McMinnville

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      14,000 SF

      McMinnville Commercial Land Opportunity

      Commercial land in McMinnville's established commercial corridor.
      109 John B Magness Dr, Mc Minnville, TN 37110
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    • $170,000
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      Commercial Property in McMinnville, TN

      Equipped commercial property with potential for various business ventures.
      7089 NW Short Mountain Rd, Mc Minnville, TN 37110
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    • $80,000
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      Unrestricted Land with Creek Access

      20-acre unrestricted land with creek near McMinnville, Tennessee.
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    Similar Nearby for Sale

    • $325,000

      Commercial Building with Office Space

      Large commercial building featuring office space and warehouse area.
      869 Underwood Rd, Mc Minnville, TN 37110
      View Details
    • Contact for pricing

      Historic McMinnville Commercial Property

      Commercial property with two buildings in historic McMinnville, Tennessee.
      202 W Morford St, Mc Minnville, TN 37110
      View Details
    • $499,000
      5,546 SF

      Versatile Commercial Building in McMinnville

      Commercial building in downtown McMinnville with flexible space and parking.
      107 Lyon St, Mc Minnville, TN 37110
      View Details
    • Contact for pricing
      14,000 SF

      McMinnville Commercial Land Opportunity

      Commercial land in McMinnville's established commercial corridor.
      109 John B Magness Dr, Mc Minnville, TN 37110
      View Details
    • $170,000
      1,320 SF

      Commercial Property in McMinnville, TN

      Equipped commercial property with potential for various business ventures.
      7089 NW Short Mountain Rd, Mc Minnville, TN 37110
      View Details
    • $150,000
      11.00 Acres

      Unrestricted Wooded Land For Sale

      11 acres of unrestricted wooded land near McMinnville, Tennessee.
      Shellsford Rd, Mc Minnville, TN 37110
      View Details
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    McMinnville, TN 37110
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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.

    More about this property
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