Quadruplex Office
For Sale
$1,600,000
1016 17th Ave, Nashville, TN 37212
Quadruplex office building with three separate entrances, kitchens on each floor, and 10+ on-site parking spaces.
Property Size4,000 SF
Price / SF$400
Days on Market160
Property Features for 1016 17th Ave
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Office
Amenities
3
Building Details
Year Built
1987
Listing Agency:
Coldwell Banker Southern Realty
(615) 957-2850
Listed By:
Ashley Boykin · License #298641
(615) 957-2850
Source:
Xome
Added: Mar 4
Changed: Aug 8
Last Checked: Aug 11 at 5:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Southern Realty
Investment Insights
Based on property information with market context.
1016 17th Ave S is a four-unit (quadruplex) commercial office building offering a layout designed for professional and creative operations. The interior includes private offices, collaborative bullpens, and conference rooms, with a kitchen on each floor to support day-to-day team needs. The property also features three separate entrances, which can accommodate multiple tenant setups or private client access.
The building is positioned in the heart of Music Row in Nashville, TN. On-site parking is available with 10+ spaces, and additional storage units are offered for rent. An HOA maintains the exterior of the building, helping reduce exterior maintenance responsibilities.
The property is described as freshly painted and move-in ready. With approximately 4,000 square feet of total space, it presents a practical owner-user or multi-suite ownership format.
The building is positioned in the heart of Music Row in Nashville, TN. On-site parking is available with 10+ spaces, and additional storage units are offered for rent. An HOA maintains the exterior of the building, helping reduce exterior maintenance responsibilities.
The property is described as freshly painted and move-in ready. With approximately 4,000 square feet of total space, it presents a practical owner-user or multi-suite ownership format.
Key Highlights
- Quadruplex commercial office building built in 1987
- Three separate entrances for flexible tenant or private client access
- Kitchens on each floor for added convenience for tenants and teams
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$50,085
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,001,700
$1.0M
Cap Rate 7%
$715,500
$715.5K
Cap Rate 9%
$556,500
$556.5K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$84.0K $21.00/SF
− Vacancy
−$17.2K −$4.31/SF
EGI
$66.8K $16.70/SF
− OpEx
−$16.7K −$4.17/SF
NOI
$50.1K $12.52/SF
Area
Nashville, TN
Vacancy
20.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,001,700
Cap Rate 7%
$715,500
Cap Rate 9%
$556,500
Alternative Uses
Best Use
Office B
$715.5K
$626.1K – $834.8K
NOI $50,085 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$891.0K – $1.19M
NOI $71,280 @ 7.0% cap · market cap 4.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,770
Businesses Nearby
Explore this area
Business Placement
Demographics for 37212, TN
22,318
Population
8,306
Households
2.7
Avg Household Size
26
Median Age
78%
College-Educated
95%
High-School Grad
2.7 sq mi
ZIP Area
8,266
Density / Sq Mi
$86,461
Median Household Income
$24,291
Median Earnings
$1,565
Median Rent
$928,500
Median Home Value
Market
Vacancy Rate% for Office in Nashville, TN
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Quadruplex office building with three separate entrances, kitchens on each floor, and 10+ on-site parking spaces.
Where is this office units located?
The property is located at 1016 17th Ave Nashville, TN.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Quadruplex commercial office building built in 1987; Three separate entrances for flexible tenant or private client access; Kitchens on each floor for added convenience for tenants and teams
