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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
High-rise multifamily apartments
600 Creative Way Madison, TN 37115-2961
Individually Owned
5-yr Hold
Free & Clear
Property ID
US80-0830536
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1950
Total area
38,990 SF
Lot
9.2 ac (400,752 SF)
Zoning code
MULTI-ZONE
APN
051-00-0-173-00
UPID
US80-0830536
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$624k
Blend (final)
Blend
$585k
Owner & transaction history
Metropolitan Dev & Hsng Agc · 5 yrs held
Metropolitan Dev & Hsng Agc
since 2020
Last sale
$499,900
3 recorded transactions
Zoning & alternative use
MULTI-ZONE · Madison, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$710,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$585k
Range $527k – $644k · ±10% · vs last sale $500k (Dec 16 2020)
Last sale anchor
$500k
Dec 16 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$15 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Land market value
$1,472,000
Improvement market value
$11,028,400
Total market value
$12,500,400
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
1950
Heating
CENTRAL
Cooling
CENTRAL
Buildings
5
Stories
1
Rooms
7
Bathrooms
1
Total area
38,990 SF
Lot
9.2 ac (400,752 SF)
Zoning code
MULTI-ZONE
APN
051-00-0-173-00
UPID
US80-0830536
Jurisdiction
DAVIDSON
Zoning & alternative use
MULTI-ZONE · Madison, TN
Zoning MULTI-ZONE · permitted uses
MULTI-ZONE · Madison, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Madison. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1950
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
5
Rooms
7
Bathrooms
1
Lot
9.2 ac
Current owner
From public records · entity-resolved
Metropolitan Dev & Hsng Agc
Individual
Free & Clear · 5 yrs held
Mailing address
701 S 6TH ST, NASHVILLE, TN 37206-3893
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2020
—
Metropolitan Dev & Hsng Agc
Brairville Apartments LP
Quit Claim Deed
—
Feb 25, 2020
—
Briarville Apartments LP
Briarville Apartments LP
Quit Claim Deed
related
—
Jan 17, 2020
$499,900
The Briarville Apartments LP
Doris A Thomas
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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