Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    509 Ellington Dr Lafayette, TN 37083-1636
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    509 Ellington Dr Lafayette, TN 37083-1636

    View on Map
    • Retail space
    • 12,840 SF
    Off-Market
    Property ID
    US80-0903045
    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
    $1,240,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Dollar General / Discount Store
    • Western Union / Bank / Credit Union

    Property Details for 509 Ellington Dr

    Year built
    2006
    Construction
    FRAME
    Property size
    12,840 SF
    Property type
    Retail space
    APN
    056050P A 00903 001
    APU
    056050PA00903001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,013,000
      Market price range: $278k - $1.29M
      AI Estimate
      $1,327,000
      Market price range: $497k - $1.94M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $905,000
      Current use
      COMMERCIAL (GENERAL)
      $1,205,000
      Change: +33% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lafayette
    County
    Macon
    State
    Tennessee
    Longitude
    -86.0387
    Latitude
    36.524
    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
    2019
    $5,822
    $0.00
    $318,360
    $318,360
    -
    $0.00
    $795,900
    $795,900

    Comparable in this City

    • Value Estimation by Request
      4,500 SF

      2744 Hwy 52nd W

      RETAIL STORES (PERSONAL SERVICES) • 4,500 SF
      2744 Hwy 52nd W, Lafayette, TN 37083-3262
      View Details
    • Value Estimation by Request
      3,520 SF

      220 Public Sq

      RETAIL STORES (PERSONAL SERVICES) • 3,520 SF
      220 Public Sq, Lafayette, TN 37083-1238
      View Details
    • Value Estimation by Request
      3,069 SF

      Scottsville Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,069 SF
      Scottsville Rd, Lafayette, TN 37083
      View Details
    • Value Estimation by Request
      1,350 SF

      111 Scottsville Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,350 SF
      111 Scottsville Rd, Lafayette, TN 37083-1523
      View Details
    • Value Estimation by Request
      1,600 SF

      Scottsville Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,600 SF
      Scottsville Rd, Lafayette, TN 37083
      View Details
    • Value Estimation by Request
      1,050 SF

      103 Scottsville Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,050 SF
      103 Scottsville Rd, Lafayette, TN 37083-1523
      View Details

    Similar Nearby for Sale

    • $299,000
      3,020 SF

      Five Bay Garage Ready

      Five bay garage with lift, compressor, office, and paint room.
      83 Twins Ln, Lafayette, TN 37083
      View Details
    • $1,400,000
      11.41 Acres

      Prime Lafayette Mixed-Use Tract

      11 Acres, Hwy 52 Bypass, High Visibility
      611 Highway 52 Byp, Lafayette, TN 37083
      View Details
    • $149,900
      1.00 Acre

      Prime Lafayette Land - 0.81 Acres

      Build your dream near schools! City utilities available.
      Days Rd, Lafayette, TN 37083
      View Details
    • Contact for pricing

      Highway Frontage Commercial Lot

      Commercial lot with highway frontage, seller accepting offers.
      Highway 52 Byp E, Lafayette, TN 37083
      View Details
    • $149,900

      Lafayette Land with Creek Access

      14+ acre land with creek, convenient location, and utilities.
      3384 Hartsville Rd, Lafayette, TN 37083
      View Details
    • $249,900
      1.27 Acres

      Prime Lafayette Commercial Land

      High-potential lot near schools
      Highway 52, Lafayette, TN 37083
      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.
    509 Ellington Dr
    Lafayette, TN 37083-1636
    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!