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

    478 Chancery St McMinnville, TN 37110

    • Commercial real estate
    • 0.91 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1972099
    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

    • Commercial real estate

    Property Details for 478 Chancery St

    Lot size
    0.91 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 0.91-acre commercial land parcel presents a rare opportunity in McMinnville, Tennessee. Located at 478 N Chancery St, this property boasts high visibility and convenient access from two major streets: N Chancery Street and Walker Street. The site, already cleared and ready for development, offers approximately 141 feet of frontage on N Chancery Street and approximately 60 feet on Walker Street. Zoned C-2, this land is ideal for a wide range of commercial ventures. Its strategic location within the expanding town of McMinnville ensures strong potential for growth and return on investment. The three parcels comprising this property provide ample space for new construction, making it an attractive proposition for entrepreneurs and investors seeking a prime location in a thriving market. The asking price is $899,900. This is one of the few remaining vacant commercial sites in McMinnville, making this a truly unique opportunity. Don't miss out on this chance to establish your business in a highly visible and accessible location.

    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
    McMinnville
    County
    Warren
    State
    Tennessee
    Longitude
    -85.7753094
    Latitude
    35.6898603

    Comparable in this City

    • $1,120,000
      Pending

      Wooded Land in McMinnville, TN

      140 acres of wooded land ideal for recreation and hunting.
      8 Hwy, Mc Minnville, TN 37110
      View Details
    • $289,900
      18.14 Acres

      Unrestricted Land Near McMinnville

      18.141 acres of unrestricted land ideal for various uses.
      Old Nashville Hwy, Mc Minnville, TN 37110
      View Details
    • $349,000
      1.68 Acres

      Remodeled Duplex with Extra Acre

      Recently remodeled duplex with development potential in McMinnville, TN.
      266 Karate Ln, Mc Minnville, TN 37110
      View Details
    • $44,998
      0.36 Acres

      Residential Land in McMinnville, TN

      0.36-acre residential land, utilities available, close to McMinnville.
      Hidden Valley Cir, Mc Minnville, TN 37110
      View Details
    • $44,900
      Pending

      Residential Lot in McMinnville, TN

      Cleared 0.74 acre lot ready for building in McMinnville.
      Nunley Ln, Mc Minnville, TN 37110
      View Details
    • $44,998
      0.37 Acres

      McMinnville Land for Custom Home

      0.37-acre lot ready for your dream home in McMinnville.
      Hidden Valley Cir, Mc Minnville, TN 37110
      View Details

    Similar Nearby for Sale

    • $1,120,000
      Pending

      Wooded Land in McMinnville, TN

      140 acres of wooded land ideal for recreation and hunting.
      8 Hwy, Mc Minnville, TN 37110
      View Details
    • $44,900
      Pending

      Residential Lot in McMinnville, TN

      Cleared 0.74 acre lot ready for building in McMinnville.
      Nunley Ln, Mc Minnville, TN 37110
      View Details
    • Contact for pricing
      10 SF

      10.9 Acres Developable Industrial Site

      10.9 acre industrial/commercial site in Warren County, Tennessee.
      Mc Minnville, TN 37110
      View Details
    • $289,900
      18.14 Acres

      Unrestricted Land Near McMinnville

      18.141 acres of unrestricted land ideal for various uses.
      Old Nashville Hwy, Mc Minnville, TN 37110
      View Details
    • $349,000
      1.68 Acres

      Remodeled Duplex with Extra Acre

      Recently remodeled duplex with development potential in McMinnville, TN.
      266 Karate Ln, Mc Minnville, TN 37110
      View Details
    • $44,998
      0.36 Acres

      Residential Land in McMinnville, TN

      0.36-acre residential land, utilities available, close to McMinnville.
      Hidden Valley Cir, Mc Minnville, TN 37110
      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.
    478 Chancery St
    McMinnville, TN 37110
    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.