Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    505 3rd St Union City, TN 38261-4701
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    505 3rd St Union City, TN 38261-4701

    View on Map
    • Office properties & Spaces
    • 2,750 SF
    • 0.09 lot acres
    Off-Market
    Last Sale Feb 24, 2023
    $125,000
    Property ID
    US80-0318651
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Maness Law / Law Firm

    Property Details for 505 3rd St

    Year built
    1983
    Lot size
    0.09 lot acres
    Property size
    2,750 SF
    Property type
    Office properties & Spaces
    APN
    066048N J 00501
    APU
    066048NJ00501

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Union City
    County
    Obion
    State
    Tennessee
    Longitude
    -89.0597
    Latitude
    36.4225
    CBSA code
    46460
    CBSA name
    UNION CITY, TN-KY MICROPOLITAN 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
    0
    $0.00
    $6,000
    $85,800
    $91,800
    -
    $15,000
    $214,500
    $229,500

    Comparable in this City

    • Value Estimation by Request
      4,320 SF

      329 2nd St

      OFFICE (GENERAL) • 4,320 SF
      329 2nd St, Union City, TN 38261-3825
      View Details
    • Value Estimation by Request
      1,366 SF

      117 Main St, Unit 115

      OFFICE (GENERAL) • 1,366 SF
      117 Main St, Union City, TN 38261-3223
      View Details
    • Value Estimation by Request
      3,810 SF

      1011 Perkins St

      OFFICE (GENERAL) • 3,810 SF
      1011 Perkins St, Union City, TN 38261-5131
      View Details
    • Value Estimation
      $675,000
      7,084 SF

      1212 Stad Ave

      OFFICE (GENERAL) • 7,084 SF
      1212 Stad Ave, Union City, TN 38261-5527
      View Details
    • Value Estimation by Request
      1,856 SF

      1203 Ury St

      OFFICE (GENERAL) • 1,856 SF
      1203 Ury St, Union City, TN 38261-5123
      View Details
    • Value Estimation by Request
      964 SF

      3939 Ken 10th Hwy

      OFFICE (GENERAL) • 964 SF
      3939 Ken 10th Hwy, Union City, TN 38261-7937
      View Details

    Similar Nearby for Sale

    • $319,900
      1,020 SF

      Union City Commercial Building

      Commercial building suitable for office, retail, or mixed-use ventures.
      2122 Walker Tanner Rd, Union City, TN 38261
      View Details
    • $259,000
      7,996 SF

      Versatile Industrial Facility in Union City

      8,000 sq ft insulated facility ideal for logistics, storage.
      921 N 1St St, Union City, TN 38261
      View Details
    • $190,000
      3,774 SF

      Union City Commercial Opportunity

      Versatile commercial space in Union City's historic district.
      202 Railroad St, Union City, TN 38261
      View Details
    • Contact for pricing
      7,996 SF

      Versatile Insulated Facility For Sale

      8,000 SF flex space ideal for logistics, storage, production.
      921 N 1St St, Union City, TN 38261
      View Details
    • $99,000
      2,231 SF

      Union City Commercial Opportunity

      Versatile property with storefront, production area, and living space.
      415 S 3Rd St, Union City, TN 38261
      View Details
    • Contact for pricing
      1,600 SF

      Downtown Union City Office Space

      Office space for rent in downtown Union City.
      610 Perkins St, Union City, TN 38261
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      600 Sherwood Dr, Union City, TN 38261

      Warehouses
      600 Sherwood Dr, Union City, TN 38261
      View Details
    • Contact for pricing

      Union City Industrial Facility

      254,295 SF industrial facility on 34 acres for lease.
      600 Sherwood Dr, Union City, TN 38261
      View Details
    • Contact for pricing

      Reelfoot Shopping Center Retail Space

      Retail space available in a busy, established shopping center.
      1421 S 1St St, Union City, TN 38261
      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.
    505 3rd St
    Union City, TN 38261-4701
    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.
    Sign Up Successful!
    You now have access to more from Realmo!