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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    816 51st N Ave Nashville, TN 37209-2117

    • Strip malls
    • 2,015 SF
    OFF-MARKET
    Last Sale
    Apr 17, 2023
    $700,000
    Value Estimations
    $530,000
    Show details
    Cap Rate Potential
    5%
    Strip malls
    Location Intelligence
    Property ID
    US80-2898008
    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

    • Tinwings / Caterer / Catering Food And Drink Supplier

    Property Details for 816 51st N Ave

    Year built
    1920
    Property size
    2,015 SF
    Zone code
    CS
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    091-11-0J-001-00
    APU
    091110J00100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $535,000
      ML approach
      $550,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $445,000
      6.5%
      $415,000
      7%
      $385,000

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $600,000
      Current use
      OFFICE BUILDING
      $815,000
      Change: +35% Conversion: Moderate
      MEDICAL BUILDING
      $705,000
      Change: +17% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $585,000
      Change: -3% Conversion: Easy
      WAREHOUSE, STORAGE
      $490,000
      Change: -19% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.8486
    Latitude
    36.1575
    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
    $2,770
    $39,760
    $45,360
    $85,120
    -
    $99,400
    $113,400
    $212,800

    Comparable in this City

    • Value Estimation
      $1,645,000
      8,871 SF

      6217 Charlotte Pike

      SHOPPING CENTER, STRIP CENTER • 8,871 SF
      6217 Charlotte Pike, Nashville, TN 37209-3029
      View Details
    • Value Estimation
      $3,395,000
      20,704 SF

      6410 Charlotte Pike

      SHOPPING CENTER, STRIP CENTER • 20,704 SF
      6410 Charlotte Pike, Nashville, TN 37209-2970
      View Details
    • Value Estimation
      $11,610,000
      53,393 SF

      6806 Charlotte Pike

      SHOPPING CENTER, STRIP CENTER • 53,393 SF
      6806 Charlotte Pike, Nashville, TN 37209-4206
      View Details
    • Value Estimation
      $1,775,000
      9,200 SF

      5122 Charlotte Ave

      SHOPPING CENTER, STRIP CENTER • 9,200 SF
      5122 Charlotte Ave, Nashville, TN 37209-3673
      View Details
    • Value Estimation
      $1,555,000
      7,280 SF

      6399 Charlotte Pike

      SHOPPING CENTER, STRIP CENTER • 7,280 SF
      6399 Charlotte Pike, Nashville, TN 37209-2926
      View Details
    • Value Estimation
      $690,000
      4,663 SF

      5524 Charlotte Pike

      SHOPPING CENTER, STRIP CENTER • 4,663 SF
      5524 Charlotte Pike, Nashville, TN 37209-3378
      View Details

    Similar Nearby for Sale

    • $5,000,000

      Established Strip Mall For Sale

      High-traffic strip mall with income potential in Nashville, Tennessee.
      5911 Charlotte Pike, Nashville, TN 37209
      View Details
    • Contact for pricing
      7,000 SF

      Prime West Nashville Retail Space

      7,000 SF NNN Lease, High NOI
      6399 Charlotte Pike, Nashville, TN 37209
      View Details
    • $6,500,000
      4,744 SF

      Car Dealership on Charlotte Pike

      Car dealership with office and service garage on Charlotte Pike.
      6005 Charlotte Pike, Nashville, TN 37209
      View Details
    • $4,500,000
      2,772 SF

      Car Dealership on Charlotte Pike

      Car dealership with office and service garage on Charlotte Pike.
      6005 Charlotte Pike, Nashville, TN 37209
      View Details
    • $2,700,000
      5,948 SF

      West Nashville Retail Building

      Freestanding retail building in West Nashville with four tenants.
      6210 Charlotte Pike, Nashville, TN 37209
      View Details
    • $5,000,000
      32,319 SF

      Prime Commercial Opportunity in a High-Traffic Location!

      Prime Commercial Opportunity in a High-Traffic Location!
      5911 Charlotte Pike, Nashville, TN 37209
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,000 SF

      Nashville West Shopping Center Space

      Retail space available in established Nashville shopping center.
      6722-6728 Charlotte Pike, Nashville, TN 37209
      View Details
    • Contact for pricing
      6,350 SF

      Nashville West Retail Space Available

      Retail space for lease in Nashville West Shopping Center.
      6802 Charlotte Pike, Nashville, TN 37209
      View Details
    • $45 SF/Yr
      958 SF

      Unique Market-Style Retail Destination

      Market-style shopping and eating destination with eclectic mix of shops.
      3814-3820 Charlotte Ave, Nashville, TN 37209
      View Details
    • Contact for pricing

      Office Space in Hill Center

      Office space in a Publix-anchored mixed-use center in Nashville.
      6606 Charlotte Pike, Nashville, TN 37209
      View Details
    • Contact for pricing
      6,610 SF

      Retail and Restaurant Space Available

      Onsite restaurants and shops with open corridors and outdoor plazas.
      4101 Charlotte Ave, Nashville, TN 37209
      View Details
    • Contact for pricing
      6,750 SF

      Retail Space on Charlotte Avenue

      Retail space available for lease on Charlotte Avenue.
      3729 Charlotte Ave, Nashville, TN 37209
      View Details
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    Nashville, TN 37209-2117
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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.

    More about this property
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