Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    389 Murfreesboro Pike Nashville, TN 37210-2854

    • Drive through restaurants
    • 2,940 SF
    • 0.48 lot acres
    OFF-MARKET
    Value Estimations
    $320,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1502106
    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

    • Kebab Gyros Greek & Italian / Greek Restaurant / European Restaurant

    Property Details for 389 Murfreesboro Pike

    Year built
    1973
    Lot size
    0.48 lot acres
    Property size
    2,940 SF
    Zone code
    CS
    Property type
    Drive through restaurants
    APN
    106-01-0-078-00
    APU
    10601007800

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $345,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $298,000
      Market price range: $299k - $490k

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.7501
    Latitude
    36.1443
    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
    $4,865
    $133,800
    $15,720
    $149,520
    -
    $334,500
    $39,300
    $373,800

    Comparable in this City

    • Value Estimation
      $440,000
      1,051 SF

      835 4th S Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,051 SF
      835 4th S Ave, Nashville, TN 37210-2058
      View Details
    • Value Estimation
      $345,000
      2,661 SF

      860 Elm Hl Pike

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,661 SF
      860 Elm Hl Pike, Nashville, TN 37210-2825
      View Details
    • Value Estimation
      $410,000
      2,360 SF

      1 Hermitage Ave

      DRIVE-THRU RESTAURANT, FAST FOOD • 2,360 SF
      1 Hermitage Ave, Nashville, TN 37210-2109
      View Details
    • Value Estimation
      $500,000
      3,126 SF

      524 Murfreesboro Pike

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,126 SF
      524 Murfreesboro Pike, Nashville, TN 37210-3510
      View Details
    • Value Estimation
      $570,000
      3,404 SF

      454 Murfreesboro Pike

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,404 SF
      454 Murfreesboro Pike, Nashville, TN 37210-2822
      View Details
    • Value Estimation
      $395,000
      6,534 SF

      444 Murfreesboro Pike

      DRIVE-THRU RESTAURANT, FAST FOOD • 6,534 SF
      444 Murfreesboro Pike, Nashville, TN 37210-2822
      View Details

    Similar Nearby for Sale

    • $3,150,000
      2,375 SF

      Regions Bank Building: Premier Office Suites

      Class A Office Space, Multiple Suites Available
      1535 4Th Ave, Nashville, TN 37210
      View Details
    • $4,000,000
      34,261 SF

      Nashville Industrial Building For Sale

      34,261 SF industrial building on 1.5 acres in Nashville.
      1101 Polk Ave, Nashville, TN 37210
      View Details
    • $2,999,999
      1,484 SF

      1,484 SF Commercial Property For Sale

      1,484 SF Commercial Property For Sale
      5 Lafayette St, Nashville, TN 37210
      View Details
    • $3,700,000
      2,200 SF

      2,200 SF Prime Commercial Property in the Heart of Nashville

      2,200 SF Prime Commercial Property in the Heart of Nashville
      39 Lafayette St, Nashville, TN 37210
      View Details
    • $4,000,000
      34,261 SF

      Nashville Warehouse - $4M

      34,261 SF Warehouse, Prime Location
      1101 Polk Ave, Nashville, TN 37210
      View Details
    • $1,100,000
      4,626 SF

      Unique Office and Light Industrial Building For Sale

      Unique Office and Light Industrial Building For Sale
      711 Hill Ave, Nashville, TN 37210
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,960 SF

      Bar/Restaurant Space with Outdoor Area

      1960 SF bar/restaurant space with rear deck and basement.
      523 4Th Ave S, Nashville, TN 37210
      View Details
    • Contact for pricing
      4,466 SF

      Prime Retail Space in SoBro

      High-visibility corner retail space in SoBro's Printing House Hotel.
      501 3Rd Ave S, Nashville, TN 37210
      View Details
    • $650 /Mo
      1,000 SF

      Renovated Retail Spaces on Lebanon

      Newly renovated retail spaces for lease on Lebanon Pike.
      2515-2517 Lebanon Pike, Nashville, TN 37210
      View Details
    • Contact for pricing
      25,000 SF

      Office and Retail Space Available

      50,000 SF of office and retail space for rent.
      1201 4Th Ave S, Nashville, TN 37210
      View Details
    • $16 SF/Yr
      11,869 SF

      Office/Showroom Space with Highway Visibility

      90,000 SF office/showroom space visible from I-40 and I-24.
      640 Rundle Ave, Nashville, TN 37210
      View Details
    • $16 SF/Yr
      3,600 SF

      Elm Hill Pike Flex Space

      Adaptable space ideal for creative office or warehouse use.
      1717 Elm Hill Pike, Nashville, TN 37210
      View Details
    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.
    389 Murfreesboro Pike
    Nashville, TN 37210-2854
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.