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

    706 Main St Columbia, TN 38401

    • Office Properties & Spaces
    • 7,662 SF
    • 0.27 lot acres
    For Sale
    View listing
    $1,599,999
    Last Sale
    Aug 09, 2023
    $1,200,000
    Value Estimations
    Cap Rate Potential
    4.3%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US80-0756853
    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

    • Office Properties & Spaces

    Property Details for 706 Main St

    Year built
    1900
    Lot size
    0.27 lot acres
    Property size
    7,662 SF
    Zone code
    GBD
    Property type
    Office Properties & Spaces
    APN
    060099A K 04500
    APU
    060099AK04500

    Description

    This stunning 7,599 sq ft mixed-use property at 706 N Main St, Columbia, TN, presents a unique investment opportunity. The Nelson House Hotel, a historic landmark, sits on a 0.27-acre lot just one block from the town square. This property offers immense potential for redevelopment as a boutique hotel (the only one in downtown Columbia), restaurant, meeting space, or even a remarkable primary residence. The building boasts original architectural details including brick, wood flooring, a grand staircase, paneled doorways, transoms, fireplaces, and metal surrounds, all awaiting restoration. Included is a separate small brick building currently used for storage of original architectural elements removed during the beginning of a prior renovation. A significant advantage is the asphalt parking lot to the north, offering buildable space allowing for a structure up to five levels high. Detailed professional floor plans and supporting documentation, including a survey and engineering letter, are available. The property's rich history is well-documented, adding to its unique appeal and investment potential. This is a chance to own a piece of Columbia's heritage and shape its future.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,600,000
      ML approach
      $1,380,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,160,000
      6.5%
      $1,070,000
      7%
      $995,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $765,000
      Current use
      MEDICAL BUILDING
      $1,160,000
      Change: +52% Conversion: Easy
      RETAIL STORES
      $880,000
      Change: +15% Conversion: Easy
      AUTO REPAIR, GARAGE
      $840,000
      Change: +10% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbia
    County
    Maury
    State
    Tennessee
    Longitude
    -87.0333
    Latitude
    35.6157
    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
    2023
    $2,543
    $31,200
    $61,800
    $93,000
    -
    $78,000
    $154,500
    $232,500

    Comparable in this City

    • Value Estimation by Request
      720 SF

      1102 New Hwy 7th 7

      OFFICE (GENERAL) • 720 SF
      1102 New Hwy 7th 7, Columbia, TN 38401-6662
      View Details
    • Value Estimation by Request
      770 SF

      1090 New Hwy 7th 7

      OFFICE (GENERAL) • 770 SF
      1090 New Hwy 7th 7, Columbia, TN 38401-6662
      View Details
    • Value Estimation by Request
      4,552 SF

      1562 Lasea Rd

      OFFICE (GENERAL) • 4,552 SF
      1562 Lasea Rd, Columbia, TN 38401-7706
      View Details
    • Value Estimation
      $550,000
      6,150 SF

      413 Frierson St

      OFFICE (GENERAL) • 6,150 SF
      413 Frierson St, Columbia, TN 38401
      View Details
    • Value Estimation
      $850,000
      5,896 SF

      701 7th St

      OFFICE (GENERAL) • 5,896 SF
      701 7th St, Columbia, TN 38401-3051
      View Details
    • Value Estimation by Request
      2,656 SF

      700 Beckett St

      OFFICE (GENERAL) • 2,656 SF
      700 Beckett St, Columbia, TN 38401-3176
      View Details

    Similar Nearby for Sale

    • $2,200,000
      12,014 SF

      Prime Columbia Office Building

      12,000+ SF Office, 1.19 Acres
      2504 Keith Dr, Columbia, TN 38401
      View Details
    • $13,500,000
      38,580 SF

      1616 Harley Davidson Blvd

      Automotive properties • 38,580 SF
      1616 Harley Davidson Blvd, Columbia, TN 38401
      View Details
    • Contact for pricing
      1,290 SF

      Columbia Office Space - Prime Location

      Spacious Office, Great Location, Ample Parking
      1407 Hatcher Ln, Columbia, TN 38401
      View Details
    • $400,000
      2,400 SF

      Prime Columbia Office Space

      Versatile Office Building, Excellent Location
      1300 Hatcher Ln, Columbia, TN 38401
      View Details
    • $350,000
      3,209 SF

      Historic Columbia Office Building

      Prime Location, High-Potential Office Space
      607 High St, Columbia, TN 38401
      View Details
    • $400,000
      2,400 SF

      Columbia Office Building For Sale

      Prime 2,400 SF Office Space in Columbia, TN
      1300 Hatcher Ln, Columbia, TN 38401
      View Details

    Similar Nearby for Lease

    • $17 SF/Yr
      2,460 SF

      Prime Columbia Office Space

      2,460 SF Office Building, 0.23 Acres
      1025 Nashville Hwy, Columbia, TN 38401
      View Details
    • $1,200 /Mo

      Secure Columbia Office Space Available

      Small office space with secure storage in central Columbia.
      2016 Circle Dr, Columbia, TN 38401
      View Details
    • Contact for pricing
      1,059 SF

      Retail/Office Space on Nashville Highway

      Retail or office space with ample parking and signage opportunity.
      1507 Nashville Hwy, Columbia, TN 38401
      View Details
    • $15 SF/Yr
      11,600 SF

      Columbia Industrial Space For Lease

      Newly renovated flex space, 3,500-11,600 SF
      137B Dyer St, Columbia, TN 38401
      View Details
    • $18 SF/Yr
      1,250 SF

      Retail Space with Roll-Up Door

      Retail space featuring office and roll-up door, available 2025.
      2509 Cayer Ln, Columbia, TN 38401
      View Details
    • $32 SF/Yr
      15,000 SF

      Beechcroft Plaza Retail Space Available

      Columbia, TN Retail Center: 3,110 SF Available
      2500 Cayer Ln, Columbia, TN 38401
      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.
    706 Main St
    Columbia, TN 38401
    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.