Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3053 1st St Milan, TN 38358-3109

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3053 1st St Milan, TN 38358-3109

    View on Map
    • Drive through restaurants
    • 2,606 SF
    • 1.00 lot acres
    Off-Market
    Property ID
    US80-0521562
    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

    • Burger King / Restaurant

    Property Details for 3053 1st St

    Year built
    2011
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.00 lot acres
    Property size
    2,606 SF
    Property type
    Drive through restaurants
    APN
    140E A 00600
    APU
    140EA00600

    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
    Milan
    County
    Gibson
    State
    Tennessee
    Longitude
    -88.7543
    Latitude
    35.9156
    CBSA code
    27180
    CBSA name
    JACKSON, 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
    0
    $0.00
    $58,800
    $165,240
    $224,040
    -
    $147,000
    $413,100
    $560,100

    Comparable in this City

    • Value Estimation by Request
      2,082 SF

      6045 1st St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,082 SF
      6045 1st St, Milan, TN 38358-3132
      View Details
    • Value Estimation by Request
      2,962 SF

      2096 Van Hook St

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,962 SF
      2096 Van Hook St, Milan, TN 38358-2835
      View Details
    • Value Estimation by Request
      4,156 SF

      6076 1st St

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,156 SF
      6076 1st St, Milan, TN 38358-3131
      View Details
    • Value Estimation by Request
      1,868 SF

      Van Hook St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,868 SF
      Van Hook St, Milan, TN 38358
      View Details
    • Value Estimation by Request
      3,616 SF

      3099 1st St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,616 SF
      3099 1st St, Milan, TN 38358-3109
      View Details
    • Value Estimation by Request
      2,460 SF

      3102 Kefauver Dr

      RESTAURANT • 2,460 SF
      3102 Kefauver Dr, Milan, TN 38358-3474
      View Details

    Similar Nearby for Sale

    • $54,900
      1,320 SF

      Milan Commercial Building Redevelopment Potential

      Downtown Milan commercial building with excellent visibility and redevelopment potential.
      1108 S Main St, Milan, TN 38358
      View Details
    • Contact for pricing
      2,293 SF

      New Starbucks in Milan, TN

      Recently constructed Starbucks with drive-thru on 0.32-acre lot.
      15229 S 1St St, Milan, TN 38358
      View Details
    • $179,900
      1,143 SF

      Milan Commercial Building For Sale

      Stand-alone building in high-traffic area, suitable for various businesses.
      1053 N Main St, Milan, TN 38358
      View Details
    • Contact for pricing
      5,784 SF

      Commercial Building in Milan, TN

      5,784 SF commercial building on 0.96 acres for sale.
      1039 W Van Hook St, Milan, TN 38358
      View Details
    • Contact for pricing
      5,000 SF

      Modern Automotive Shop For Sale

      5,000 sq ft shop built in 2022, excellent condition.
      3029 Highland St, Milan, TN 38358
      View Details
    • $1,700,000
      Pending

      Land with Existing Structures, Milan

      5.5 acres on US 45 with existing structures and storage.
      12533 S 1St St, Milan, TN 38358
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space on US Hwy 45E

      Retail space in Milan, TN with high traffic visibility.
      5024 S 1St St, Milan, TN 38358
      View Details
    • Contact for pricing

      Retail Space in Walmart Shadow

      High-traffic location with great visibility and access in Milan, TN.
      15423 S 1St St, Milan, TN 38358
      View Details
    • Contact for pricing

      Retail Space in Milan, Tennessee

      Retail space available on US Hwy 45 E in Milan.
      5024 S 1St St, Milan, TN 38358
      View Details
    • Contact for pricing
      2,082 SF

      Retail Space with Great Visibility

      Adaptable retail space with ample parking and brand exposure.
      6045 S 1St St, Milan, TN 38358
      View Details
    • Contact for pricing

      High-Traffic Retail/Office Space Available

      Retail or office space in high-traffic Walmart shadow center.
      15423 S 1St St, Milan, TN 38358
      View Details
    • Contact for pricing

      Prime Corner Lot in Milan

      Exceptional ground leasing opportunity in a high-traffic location.
      6045 S 1St St, Milan, TN 38358
      View Details

    Property Visit Statistics

    • Visits by month
      11.0k
    • Visitors by month
      7.6k
    • Avg Time on site
      11 min
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3053 1st St
    Milan, TN 38358-3109
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!