Commercially Zoned Wedgewood
For Sale
$934,900
505 Wedgewood Ave, Nashville, TN 37203
ATTENTION INVESTORS—NOOSTR, Commercially Zoned
Property Size2,324 SF
Price / SF$402.28
Days on Market507
Property Features for 505 Wedgewood Ave
General Information
Standard status
Active
Property type
Other mixed-use properties, Live-work space, Other office properties, Mixed-use properties, Office Spaces
Size
2,324 SF
Elevators
N/A
Building Details
Year Built
2018
Buildings
1
Stories
3
Listed By:
Intero Headquarters
(408) 342-8696
Added: May 27, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
This commercially zoned property, currently operating as a NOOSTR (AirBnB), presents an opportunity for investors. It could also serve as an office. The residence features hardwood floors on the second and third floors, stained concrete on the first floor, and tile in the bathrooms and showers. Granite countertops are installed throughout. The kitchen is equipped with a tile backsplash, undercabinet lighting, a gas range, and stainless steel appliances. A large pantry is currently utilized as a rental storage closet. Located in an area with local shops and restaurants, the property is situated near a school and park. Geodis Park is located behind the residence. The property includes a covered patio. The unit is fully furnished and is located in Wedgwood-Houston, near 12 South, The Gulch, and SoBro, and is 2-5 minutes to downtown Nashville. The property is in great condition and has 2,324 square feet of space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,099
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$581,980
$582.0K
Cap Rate 7%
$415,700
$415.7K
Cap Rate 9%
$323,322
$323.3K
Market Conditions
NOI Build-Up for 2,324 SF
Gross rent
$48.8K $21.00/SF
− Vacancy
−$10.0K −$4.31/SF
EGI
$38.8K $16.70/SF
− OpEx
−$9.7K −$4.17/SF
NOI
$29.1K $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 Rate 5%
$581,980
Cap Rate 7%
$415,700
Cap Rate 9%
$323,322
Alternative Uses
Best Use
Office B
$415.7K
$363.7K – $485.0K
NOI $29,099 @ 7.0% cap · market cap 3.11%
Second Best
Mixed Use
$403.4K
$353.0K – $470.6K
NOI $28,237 @ 7.0% cap · market cap 3.02%
Theoretical Best
Office A
$591.6K
$517.7K – $690.2K
NOI $41,414 @ 7.0% cap · market cap 4.43%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,041
Businesses Nearby
Explore this area
Business Placement
Demographics for 37203, TN
20,429
Population
16,422
Households
1.2
Avg Household Size
30
Median Age
67%
College-Educated
93%
High-School Grad
4.2 sq mi
ZIP Area
4,864
Density / Sq Mi
$69,671
Median Household Income
$55,399
Median Earnings
$1,881
Median Rent
$519,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Nashville, TN
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - ATTENTION INVESTORS—NOOSTR, Commercially Zoned
Where is this mixed-use property located?
The property is located at 505 Wedgewood Ave Nashville, TN.
What is the asking price?
The asking price for this property is $934,900.
