Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • 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

    1247 Lewis St Nashville, TN 37210

    Sponsored
    Source: https://www.intero.com
    For Sale
    $195,000

    Nashville's Hottest New Area Chestnut Hill

    Property size:
    4,791 SF

    Property Features for 1247 Lewis St

    General Information

    Property type
    Residential land & home lots
    Square Feet
    4,791 SF
    Price / Square Foot
    $40
    Elevators
    N/A
    Lot Size
    4,792 SF

    Overview

    Nashville Land in Chestnut Hill

    Located in Nashville's Chestnut Hill area, this 0.11-acre vacant lot at 1247 Lewis Street presents a development opportunity. The property, previously zoned IWD, has been rezoned to MUL-A-NS with council member support, allowing for higher density and residential development. New construction in the surrounding area is selling in the $500,000 to $700,000 price range. All utilities are available at the street. The property is less than 2 miles from Downtown Nashville and close to Wedgewood-Houston, including the upcoming Soho House, Flamingo, Pastis, Bastion, Present Tense, and Never Never Bar. An option exists to purchase the neighboring lot at 1249 Lewis Street, creating a combined area of 9196 square feet (0.21 acres). The seller does not have a survey, but the rezoning process is complete.

    We can help!

    Listing Contact
    Intero Headquarters

    Learn more

    Property Insight Report
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Pharmacy Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    State
    Tennessee
    Longitude
    -86.7589811
    Latitude
    36.1433085

    Nearby Similar for Sale

    • Contact for pricing

      Nashville Multifamily Property: Station 40

      246-unit multifamily property in West Nashville's growing urban area.
      610 Sylvan Hts Way, Nashville, TN 37209
      View Details
    • Contact for pricing
      1,704 SF

      Green Hills Villa with Accessibility

      Rare villa with accessible features, convenient location, and low-maintenance living.
      4207A Kirtland Rd, Nashville, TN 37215
      View Details
    • Contact for pricing
      1,043 SF

      Nashville Condo with Community Amenities

      Move-in ready condo near interstates, universities, and Nashville hotspots.
      2929 Selena Dr, Nashville, TN 37211
      View Details
    • $2,515,000
      7,448 SF

      East Nashville Boutique Community Quadplex

      Four units in East Nashville with high-end finishes and rooftop deck.
      1043 E Trinity Ln, Nashville, TN 37216
      View Details
    • Contact for pricing

      Luxury Condo with Sunset Views

      Renovated condo with all-inclusive HOA near downtown Nashville.
      6666 Brookmont Ter, Nashville, TN 37205
      View Details
    • $1,199,000

      Nashville Penthouse with Sunset Views

      Upscale penthouse with two en suite bedrooms and stunning views.
      3000 Poston Ave, Nashville, TN 37203
      View Details
    • $1,430,000

      Germantown Premier Residence with Income

      Custom-built townhome with city views and income potential.
      614 Madison St, Nashville, TN 37208
      View Details
    • $390,000
      1,115 SF

      Top Floor Condo in Nashville

      Luxury condo near Hillsboro Village, Vanderbilt, and Belmont Universities.
      2600 Hillsboro Pike, Nashville, TN 37212
      View Details
    • $4,000,000
      5,623 SF

      Nashville Medical Office Building For Sale

      Medical office building in Nashville's healthcare corridor, ideal for owner-users.
      404 Dr Db Todd Jr Blvd, Nashville, TN 37203
      View Details
    • $552,500

      Nashville Duplex with Income Potential

      Four-bedroom, three-bathroom duplex in Beverly Heights, Nashville with rental potential.
      4931 Sherman Oaks Dr, Nashville, TN 37211
      View Details
    • $650,000

      Riverfront Condo with Rental Income

      Turn-key condo near Broadway, permitted for short-term rental.
      700 1St Ave N, Nashville, TN 37201
      View Details
    • Contact for pricing

      Turnkey East Nashville Townhome

      Modern townhome in walkable East Nashville, fully furnished and ready.
      1104 Greenwood Ave, Nashville, TN 37206
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Nashville's Hottest New Area Chestnut Hill
    Where is this residential land & home lot located?
    The property is located at 1247 Lewis St Nashville, TN.
    What is the asking price?
    The asking price for this property is $195,000.
    (408) 342-8696
    Request Owner's contact information
    1247 Lewis St Nashville, TN 37210
    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.
    1247 Lewis St
    Nashville, TN 37210
    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
    1247 Lewis St Nashville, TN 37210
    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

    We can help!
    Listing Contact
    Intero Headquarters
    (408) 342-8696
    Learn more
    Google sign-in failed. Please try again or use another login method.