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    Property profile & analytics

    306 Public Sq Centerville, TN 37033

    • Retail space
    • 3,463 SF
    • 0.05 lot acres
    For Sale
    View listing
    $399,000
    Last Sale
    Feb 21, 2025
    $380,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1054566
    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.

    Current Use by Public Records

    • New Beginnings Salon and Spa / Hair Salon / Nail Salon
    • Pure Aesthetics Skincare by Cyndy / Alternative Medicine Practice / Spa & Massage Center

    Property Details for 306 Public Sq

    Year built
    1900
    Lot size
    0.05 lot acres
    Property size
    3,463 SF
    Property type
    Retail space
    APN
    041107E H 01200
    APU
    041107EH01200

    Description

    This exceptional mixed-use property, located at 306 N Public Sq in the charming town of Centerville, Tennessee, presents a rare investment opportunity. Spanning 4,200 square feet on a 0.05-acre lot, this historic building seamlessly blends old-world charm with modern functionality. The ground floor currently houses a well-established and profitable salon, a beloved local business with a loyal clientele, ensuring a consistent income stream. Above the salon, three updated residential rental units provide additional revenue potential. These units have been thoughtfully renovated, incorporating modern amenities while preserving their historic character, making them highly sought-after by tenants. The building itself has undergone significant maintenance and upgrades, including updated electrical wiring, plumbing, and a modern HVAC system, ensuring long-term efficiency and minimal maintenance costs. This turnkey investment offers a unique blend of commercial and residential income, making it an ideal opportunity for investors seeking a strong return on investment in a vibrant and growing community. The property's prime downtown location provides excellent visibility and accessibility, further enhancing its appeal and potential for future growth. This is a chance to own a piece of Centerville's history and secure a profitable future. The asking price is $399,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Centerville
    County
    Hickman
    State
    Tennessee
    Longitude
    -87.4665
    Latitude
    35.7792
    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
    $1,903
    $0.00
    $0.00
    $48,240
    -
    $15,000
    $105,600
    $120,600

    Comparable in this City

    • Value Estimation by Request
      2,788 SF

      Central Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,788 SF
      Central Ave, Centerville, TN 37033
      View Details
    • Value Estimation by Request
      1,595 SF

      1046 Hwy 100

      RETAIL STORES (PERSONAL SERVICES) • 1,595 SF
      1046 Hwy 100, Centerville, TN 37033-1125
      View Details
    • Value Estimation by Request
      2,448 SF

      1815 Hwy 100

      RETAIL STORES (PERSONAL SERVICES) • 2,448 SF
      1815 Hwy 100, Centerville, TN 37033-9427
      View Details
    • Value Estimation by Request
      6,118 SF

      208 Public Sq

      RETAIL STORES (PERSONAL SERVICES) • 6,118 SF
      208 Public Sq, Centerville, TN 37033-1601
      View Details
    • Value Estimation by Request
      3,976 SF

      307 Public Sq

      RETAIL STORES (PERSONAL SERVICES) • 3,976 SF
      307 Public Sq, Centerville, TN 37033-1602
      View Details
    • Value Estimation by Request
      1,840 SF

      4208 Hwy 100th W

      RETAIL STORES (PERSONAL SERVICES) • 1,840 SF
      4208 Hwy 100th W, Centerville, TN 37033-4296
      View Details

    Similar Nearby for Sale

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      6,225 SF, 1-acre lot, high visibility
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    • $1,096,554
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      High-Yield Centerville Retail Center

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    • $79,900
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      Highway 50 East, Centerville, TN 37033
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    • $299,900
      26.54 Acres

      26.54 Acres Wooded Land Tract

      Wooded 26.54 acre tract near Centerville, TN, ready for building.
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    306 Public Sq
    Centerville, TN 37033
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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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