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    3 Burkitt Cmns Ave Nolensville, TN 37135-2966
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    Property profile & analytics

    3 Burkitt Cmns Ave, Nolensville, TN 37135-2966

    View on Map
    • Strip malls
    • 8,128 SF
    • 1.55 lot acres
    Off-Market
    Last Sale Oct 5, 2022
    $1,250,000
    Property ID
    US80-2426826
    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
    $1,230,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 3 Burkitt Cmns Ave

    Year built
    2019
    Lot size
    1.55 lot acres
    Zone code
    MULTI-ZONE
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    186-00-0-026-00
    APU
    18600002600

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 5, 2022 — Will Jones Properties LLC Burkitt Commons LLC Quit Claim Deed · related —
    Nov 13, 2018 $1,250,000 William Jones Properties LLC Burkitt Commons LLC Grant Deed —
    Apr 21, 2016 $612,000 Burkitt Commons LLC Mcfarlin,ruth M Grant Deed —
    Aug 16, 2005 $2,088,990 Burkitt Place Dev LLC Mcfarlin,james N Warranty Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,230,000
      ML approach
      $1,185,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,087,000
      Market price range: $364k - $1.41M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,830,000

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Nolensville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.6806
    Latitude
    35.9887
    CBSA code
    34980
    CBSA name
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $24,749
    $313,640
    $533,360
    $847,000
    -
    $784,100
    $1,333,400
    $2,117,500

    Comparable in this City

    • Value Estimation
      $1,595,000
      8,600 SF

      191 Burkitt Cmns Ave

      SHOPPING CENTER, STRIP CENTER
      191 Burkitt Cmns Ave, Nolensville, TN 37135-2965
      View Details
    • Value Estimation
      $1,285,000
      2,183 SF

      7209 Nolensville Rd

      WHOLESALE OUTLET, DISCOUNT STORE
      7209 Nolensville Rd, Nolensville, TN 37135-9495
      View Details
    • Value Estimation
      $650,000
      13,149 SF

      7239 Haley Industrial Dr

      REGIONAL SHOPPING CENTER, MALL
      7239 Haley Industrial Dr, Nolensville, TN 37135-9513
      View Details
    • Value Estimation
      $17,250,000
      35,980 SF

      7240 Nolensville Rd

      RETAIL STORES (PERSONAL SERVICES)
      7240 Nolensville Rd, Nolensville, TN 37135-9502
      View Details
    • Value Estimation
      $1,135,000
      3,001 SF

      7292 Nolensville Rd

      RETAIL STORES (PERSONAL SERVICES)
      7292 Nolensville Rd, Nolensville, TN 37135-5601
      View Details
    • Value Estimation
      $600,000
      8,704 SF

      7122 Nolensville Rd

      FINANCIAL BUILDING
      7122 Nolensville Rd, Nolensville, TN 37135-9472
      View Details

    Similar Nearby for Sale

    • $4,626,000
      980 SF

      Nolensville Mixed-Use Development Opportunity

      Prime 11.08-acre mixed-use development site in Nolensville, Tennessee.
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      View Details
    • $2,399,000
      1,948 SF

      Nolensville Road Mixed-Use Development Site

      2.18-acre site ideal for mixed-use development in Nolensville, TN.
      7357 Nolensville Rd, Nolensville, TN 37135
      View Details
    • $560,000

      Vacant Land Parcel in Nolensville

      Two-acre vacant land parcel suitable for development in Nolensville, Tennessee.
      2622 Sanford Rd, Nolensville, TN 37135
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    • $2,490,000

      Nolensville Commercial Development Opportunity

      2.97-acre commercial lot in Nolensville's industrial corridor.
      2030 Johnson Industrial Blvd, Nolensville, TN 37135
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      Nolensville Road Mixed-Use Development Land

      2.18-acre mixed-use development opportunity in Nolensville, TN.
      7357 Nolensville Rd, Nolensville, TN 37135
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    • $560,000

      Vacant Land Parcel in Nolensville

      Two-acre vacant land parcel available in Nolensville, Tennessee.
      2622 Sanford Rd S, Nolensville, TN 37135
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    Similar Nearby for Lease

    • Contact for pricing
      2,250 SF

      Retail Space on Nolensville Road

      Retail space in Nolensville with abundant parking.
      7177 Nolensville Rd, Nolensville, TN 37135
      View Details
    • Contact for pricing
      1,113 SF

      Retail Space in Nolensville, TN

      Retail space for lease in Nolensville, Tennessee.
      7175 Nolensville Rd, Nolensville, TN 37135
      View Details
    • Contact for pricing
      5,533 SF

      Nolensville Flex/Industrial Space Available

      Flex/industrial space available for lease in Nolensville, Tennessee.
      7227 Haley Industrial Dr, Nolensville, TN 37135
      View Details
    • Contact for pricing

      Land Available For Lease

      Land available for lease at 7411 US-41A, Nolensville, TN.
      7411 Us-41A, Nolensville, TN 37135
      View Details
    • Sponsored
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      Land for Rent

      Highly visible land plot available for rent on Nolensville Road.
      7351 Nolensville Rd, Nolensville, TN 37135
      View Details
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    Nolensville, TN 37135-2966
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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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