Freestanding Office Building with
For Sale
$1,895,000
319 Plus Park Blvd, Nashville, TN 37217
Freestanding office asset with a diversified office unit mix, currently 100% occupied and positioned near BNA and major corridors.
Property Size10,000 SF
Days on Market161
Property Features for 319 Plus Park Blvd
General Information
Standard status
Active
Size
10,000 SF
Class
C
Property subtype
Office
Building Details
Building Size
10,000 SF
Year Built
1984
Listed By:
Justin Sturdivant · License #TN #333989
(941) 504-4222
Source:
Franklinst
Added: Apr 1
Changed: Sep 5
Last Checked: Jul 23 at 5:46AM
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 Justin Sturdivant
Investment Insights
Based on property information with market context.
Franklin Street presents a freestanding office asset located at 319 Plus Park Blvd in Nashville. The property offers an office-focused unit mix designed for office users and is currently 100% occupied. It is described as part of a centrally connected corridor, with surrounding industrial, office, and service-oriented users.
The offering is positioned minutes from Nashville International Airport (BNA) and is stated to have immediate connectivity to I-24 and I-40, supporting convenient access for tenants and visitors. The remarks also note proximity to downtown Nashville.
This is a for-sale opportunity featuring an occupied office configuration within an evolving commercial district, with an emphasis on stable tenancy and established day-to-day business presence.
The offering is positioned minutes from Nashville International Airport (BNA) and is stated to have immediate connectivity to I-24 and I-40, supporting convenient access for tenants and visitors. The remarks also note proximity to downtown Nashville.
This is a for-sale opportunity featuring an occupied office configuration within an evolving commercial district, with an emphasis on stable tenancy and established day-to-day business presence.
Key Highlights
- Freestanding office asset built in 1984
- Currently 100% occupied with a diversified office unit mix
- Positioned minutes from Nashville International Airport (BNA)
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
$125,213
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
6.61%
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%
$2,504,260
$2.5M
Cap Rate 7%
$1,788,757
$1.8M
Cap Rate 9%
$1,391,256
$1.4M
Market Conditions
NOI Build-Up for 10,000 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
$210.0K $21.00/SF
− Vacancy
−$43.1K −$4.31/SF
EGI
$167.0K $16.70/SF
− OpEx
−$41.7K −$4.17/SF
NOI
$125.2K $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%
$2,504,260
Cap Rate 7%
$1,788,757
Cap Rate 9%
$1,391,256
Alternative Uses
Best Use
Office B
$1.79M
$1.57M – $2.09M
NOI $125,213 @ 7.0% cap · market cap 6.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.55M
$2.23M – $2.97M
NOI $178,200 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
Explore this area
Business Placement
Demographics for 37217, TN
33,115
Population
14,168
Households
2.3
Avg Household Size
33
Median Age
32%
College-Educated
82%
High-School Grad
17.8 sq mi
ZIP Area
1,860
Density / Sq Mi
$61,529
Median Household Income
$37,090
Median Earnings
$1,313
Median Rent
$279,400
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 - Freestanding office asset with a diversified office unit mix, currently 100% occupied and positioned near BNA and major corridors.
Where is this office units located?
The property is located at 319 Plus Park Blvd Nashville, TN.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Freestanding office asset built in 1984; Currently 100% occupied with a diversified office unit mix; Positioned minutes from Nashville International Airport (BNA)
