Office Building Near
For Sale
Contact for pricing
212 Pavilion Boulevard, Nashville, TN 37217
Office property near BNA Airport.
Property Size11,780 SF
Price / SF$309.85
Days on Market15
Property Features for 212 Pavilion Boulevard
General Information
Standard status
Active
Size
11,780 SF
Property subtype
Office
Listing Agency:
Charles Hawkins Co.
(615) 256-3189
Listed By:
Jonathan Douillard · License #307852
Source:
Crexi
Added: Jul 28
Changed: Aug 8
Last Checked: Aug 9 at 3:55PM
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 Charles Hawkins Co.
Investment Insights
Based on property information with market context.
The property is an office building containing 11,780 square feet. It is located at 212 Pavilion Boulevard in Nashville, Tennessee, near BNA Airport, providing a defined office use in an established Nashville address.
Key Highlights
- 11,780‑square‑foot office building
- Located near BNA Airport
- 212 Pavilion Boulevard, Nashville, TN 37217
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
$147,500
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
4.04%
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%
$2,950,000
$3.0M
Cap Rate 7%
$2,107,143
$2.1M
Cap Rate 9%
$1,638,889
$1.6M
Market Conditions
NOI Build-Up for 11,780 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
$247.4K $21.00/SF
− Vacancy
−$50.7K −$4.31/SF
EGI
$196.7K $16.70/SF
− OpEx
−$49.2K −$4.17/SF
NOI
$147.5K $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%
$2,950,000
Cap Rate 7%
$2,107,143
Cap Rate 9%
$1,638,889
Alternative Uses
Best Use
Office B
$2.11M
$1.84M – $2.46M
NOI $147,500 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.00M
$2.62M – $3.50M
NOI $209,920 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
634
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 building - Office property near BNA Airport.
Where is this office building located?
The property is located at 212 Pavilion Boulevard Nashville, TN.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: 11,780‑square‑foot office building; Located near BNA Airport; 212 Pavilion Boulevard, Nashville, TN 37217
