403 Gallatin Ave Nashville, TN 37206-3220
This exceptional 5,985 square foot retail property, located at 403 Gallatin Avenue in Nashville, Tennessee, presents a compelling investment opportunity. The property boasts a 5.26% cap rate and a substantial net operating income (NOI) of $262,574, derived from a 100% occupancy rate across two tenants: Sherwin-Williams and Jane's Hideaway. These tenants occupy the single-story building, constructed in 1950 and renovated in 2022, under triple-net (NNN) leases with a remaining term of three years and 3.5% annual rent bumps. The property sits on a 0.46-acre corner lot, providing excellent visibility and accessibility along Gallatin Avenue, a major thoroughfare. Eighteen parking spaces are available. The MUG-A zoning allows for potential future redevelopment into mixed-use or multi-family projects, subject to necessary approvals. This stabilized investment offers predictable cash flow and significant upside potential in the rapidly growing East Nashville market, just minutes from downtown Nashville. The property's strong tenant mix, prime location, and redevelopment potential make it an ideal acquisition for investors seeking a high-return, low-risk investment in a thriving urban environment. The asking price is $4,995,000, translating to $834.59 per square foot.
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Sherwin-Williams Paint Store Hardware & Home Improvement Building Supply
Historic Eligibility. Only a nonresidential structure in the MUL, MUL-A, MUG, MUG-A, MUI, and MUI-A districts can be used for a warehouse and distributive business/wholesale use. The historical commission must have determined the structure is worthy of conservation, was constructed more than fifty years ago, and is being preserved with no additions, deletion…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
MUG-A · Nashville, TNHistoric Eligibility. Only a nonresidential structure in the MUL, MUL-A, MUG, MUG-A, MUI, and MUI-A districts can be used for a warehouse and distributive business/wholesale use. The historical commission must have determined the structure is worthy of conservation, was constructed more than fifty years ago, and is being preserved with no additions, deletions or alterations which modify the building's square footage or significantly alters the building's exterior appearance (i.e. blocking out windows with brick or other material). (Ord. BL2013-418 § 13, 2013; Ord. BL2011-898 § 12, 2011; Amdt. 1 to Ord. BL2010-647; Ord. BL2010-647 § 2, 2010; Ord. BL2006-972 § 3, 2006; Amdt. 1 with Ord. BL99-117 § 1 (part) 2000; Amdt. 1 with Ord. 98-1268 § 1 (part), 1998; Ord. 96-555 § 4.2(G), 1997) 17.16.100 - Utility uses. (Refer to zoning district land use table) A. Power/Gas Substation. 1. Setback. All buildings and vehicle loading areas shall be located a minimum of fifty feet from any residential zone district or district permitting residential use. 2. Landscape Buffer Yard. Along all residential zone districts and districts permitting residential use, screening in the form of landscape buffer yard Standard D shall be applied. 3. Street Standard. On minor local streets, driveway access shall be permitted only if the minor local street intersects an arterial or collector street within the same block. B. Reservoir/Water Tank. 1. Setback. Where such facilities abut a residential zone district or district permitting residential use, a minimum setback of fifty feet shall be provided. 2. Landscape Buffer Yard. Landscape buffer yard Standard D shall be applied within the above setback. C.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
