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    518 Broadway St Portland, TN 37148
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    518 Broadway St Portland, TN 37148

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    • Commercial real estate
    • 3.20 lot acres
    For Sale
    $425,000
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    Commercial Land in Booming Portland For Sale
    $425,000
    3.20 Acres

    Commercial Land in Booming Portland

    Over 3 acres of commercial land with high visibility.

    518 Broadway S St, Portland, TN 37148
    View Listing
    Property ID
    US80-0614561
    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

    • Commercial real estate

    Property Details for 518 Broadway St

    Lot size
    3.20 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 3.2-acre commercial property boasts an unparalleled location in Portland, Tennessee's thriving business district. Situated on Broadway Street South, this lot offers 197 feet of frontage along Highway 109, ensuring maximum visibility and accessibility for any commercial venture. The high traffic counts on this major thoroughfare guarantee significant exposure to potential customers. The property's strategic placement is further enhanced by its proximity to established businesses such as O'Reilly Auto Parts, Sonic, and Ace Hardware, creating a synergistic environment for growth and success. While currently not zoned commercial, adjacent properties already hold commercial zoning, suggesting a straightforward rezoning process. This presents a unique opportunity to develop a wide range of commercial uses, capitalizing on the area's robust economic activity and high demand for commercial space. The expansive lot size provides ample room for construction and development, allowing for flexibility in design and scale. This is a rare chance to acquire a prime piece of commercial real estate in a rapidly expanding market. Don't miss this opportunity to establish your business in a highly visible and convenient location. The property is priced at $425,000.

    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
    Portland
    County
    Sumner County, TN
    State
    Tennessee
    Longitude
    -86.51212
    Latitude
    36.57415

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    Similar Nearby for Sale

    • $590,000
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    • $1,459,500

      Land Site For Development

      Land available for commercial or industrial development with high visibility.
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      9,750 SF

      Retail Property For Sale

      Retail property for sale with frontage on Broadway Street.
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    • $690,250

      27 Acres with Fishing Pond

      27 acres outside city limits with a fishing pond.
      121 Mount Moriah Church Rd, Portland, TN 37148
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    • $240,000

      Partially Wooded Land For Sale

      Partially wooded land with potential for residential development.
      3438 Dobbins Pike, Portland, TN 37148
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    • $931,000

      Commercial Land in TN/KY Business Park

      Commercial land with excellent interstate access in a business park.
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    Similar Nearby for Lease

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      Warehouse Space Available For Lease

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      Industrial Warehouse Space Available

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      Industrial Facility in Portland, Tennessee

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      Retail Space in Portland Village

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      Retail Space in Portland Village

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      Retail Space in Portland Village

      Retail space available in a busy Portland, Tennessee location.
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    518 Broadway St
    Portland, TN 37148
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    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.

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