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Property profile & analytics
FOR LEASE
Parking lots & garages
401 Commerce St Nashville, TN 37219
Entity Owned
2-yr Hold
Free & Clear
Property ID
US80-1188304
For Lease
Contact for pricing
401 Commerce St, Nashville, TN 37219
View Listing →
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
2007
Total area
214,896 SF
Lot
1.21 ac (52,708 SF)
Zoning code
MULTI-ZONE
APN
093-06-1-134-00
UPID
US80-1188304
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Panera Bread Bakery Specialty Food Shop
-
Whit Forehand CPA Accounting Firm
-
Waddey Alexander C Law Firm
-
Prudential Insurance Co Insurance Agency
-
Price Stephen H Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$84.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$84.50M
Owner & transaction history
401 Commerce Property Partners LLC · 2 yrs held
401 Commerce Property Partners LLC
since 2024
Last sale
$84.5M
7 recorded transactions
Zoning & alternative use
MULTI-ZONE · Nashville, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$130.3M
+5.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Nashville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Nashville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$84,500,000
ML approach
$84,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$123,825,000
Current use
AUTO REPAIR, GARAGE
$130,265,000
Change: +5% · Conversion: Difficult
COMMERCIAL (GENERAL)
$107,865,000
Change: -13% · Conversion: Difficult
RESTAURANT
$106,095,000
Change: -14% · Conversion: Difficult
RETAIL STORES
$99,380,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$84.50M
Range $76.05M – $92.95M · ±10% · vs last sale $84.50M (Apr 23 2024)
Last sale anchor
$84.50M
Apr 23 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$393 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$1,170,680
Tax year 2023
Assessed value
$34,600,692
Assessed 2023
Previous assessed
$40,225,240
-14.0% YoY
Effective rate
3.38%
On assessed value
Assessed land
$7,354,920
Assessed improvement
$27,245,772
Land market value
$18,387,300
Improvement market value
$68,114,430
Total market value
$86,501,730
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
For Lease
Year built
2007
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
6
Total area
214,896 SF
Lot
1.21 ac (52,708 SF)
Zoning code
MULTI-ZONE
APN
093-06-1-134-00
UPID
US80-1188304
Jurisdiction
DAVIDSON
Zoning & alternative use
MULTI-ZONE · Nashville, TN
Zoning MULTI-ZONE · permitted uses
MULTI-ZONE · Nashville, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Nashville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$123.8M
AUTO REPAIR, GARAGE
Est. value
$130.3M
COMMERCIAL (GENERAL)
Est. value
$107.9M
RESTAURANT
Est. value
$106.1M
RETAIL STORES
Est. value
$99.4M
PARKING LOT Current
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2007
Heating
NONE
Cooling
Yes
Stories
6
Buildings
2
Lot
1.21 ac
Current owner
From public records · entity-resolved
401 Commerce Property Partners LLC
Entity
Free & Clear · 2 yrs held
Mailing address
2765 SAND HL RD STE #200, MENLO PARK, CA 94025-7099
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 23, 2024
$84,500,000
401 Commerce Property Partners LLC
Stp Partners LLC
Special Warranty Deed
—
Apr 23, 2024
—
401 Commerce Property Partners LLC
Stp Partners LLC
Intrafamily Transfer
related
—
Feb 7, 2022
—
John R Dorris JR
—
Deed
related
$499,900 · Truist Bank
Aug 4, 2016
—
Stp Partners LLC
—
Deed
related
$65,000,000 · Miscellaneous Ins Co
Jun 8, 2005
$6,180,000
Stp Partners LLC
Gaylord Entertainment
Grant Deed
$51,000,000 · Suntrust Bank NA
May 10, 2005
—
Owner Name Unavailable
Owner Name Unavailable
Quit Claim Deed
related
—
—
—
Stp Partners LLC
—
Deed Of Trust
related
$65,000,000 · Miscellaneous Ins Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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