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    Nashville Multifamily Property: Station 40 Title is generated by Realmo AI

    610 Sylvan Heights Way, Nashville, TN 37209

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    246-unit multifamily property in West Nashville's growing urban area.

    Added:
    Jan 27, 2026
    Days on Market:
    129
    Last Refresh:
    Jan 26 at 9:34 pm

    Property Features for 610 Sylvan Heights Way

    General Information

    Standard status
    Active

    Building Details

    Year Built
    2016

    We can help!

    Listing Contact
    Crystal Xiao

    Listing agent Crystal Xiao License #130104

    Listing office Skyline Properties, Inc.

    Listing date Jan 27, 2026

    Source Nmrk

    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 Skyline Properties, Inc.

    HighLights

    • Prime infill location in West Nashville with an 84 walk score, offering walkability to retail, restaurants, fitness, and entertainment.
    • Significant mark‑to‑market upside with in‑place rents $200-$300 below similar vintage comparables.
    • Value‑add opportunity to increase rents by up to $500/unit, based on aspirational comps in lease‑up.
    • Discount to replacement cost, offering a compelling investment proposition.
    • Located between the highly desirable Sylvan Park and The Nations neighborhoods, with strong home values.
    • Proximity to major economic drivers, including Vanderbilt University Medical Center and corporate headquarters.

    Overview

    Station 40 is a multifamily property built in 2016, comprising 246 units. It is located on Charlotte Avenue in West Nashville, offering walkability, connectivity, and access to the city’s growth corridors. Positioned within one of Nashville’s fastest-growing neighborhoods, it serves as a link between the Sylvan Park and The Nations neighborhoods. This area has become attractive to employers, creative office spaces, and urban redevelopment, with projects reshaping West Nashville into a hub for commerce and entertainment. The property has a walk score of 84, indicating a highly walkable area surrounded by mixed-use retail, restaurants, fitness destinations, and entertainment. Located between Sylvan Park and The Nations neighborhoods, home values are $800,000 and $700,000, respectively. It is located approximately 8 minutes from downtown Nashville. The property presents mark-to-market upside, with in-place rents below similar properties. There is a value-add opportunity to increase rents. The offering price represents a discount to replacement cost. Station 40 is positioned to deliver income and long-term value appreciation.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.9241
    Latitude
    36.1578

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    FAQs

    What type of property is this?
    Apartment building - 246-unit multifamily property in West Nashville's growing urban area.
    Where is this apartment building located?
    The property is located at 610 Sylvan Heights Way Nashville, TN.
    What are key features of this property?
    This property features: Prime infill location in West Nashville with an **84 walk score**, offering walkability to retail, restaurants, fitness, and entertainment.; Significant mark‑to‑market upside with in‑place rents $200-$300 below similar vintage comparables.; Value‑add opportunity to increase rents by up to $500/unit, based on aspirational comps in lease‑up.
    (615) 354-4048
    We can help!
    Listing Contact
    Crystal Xiao
    Real Estate License ID: 130104
    Learn More
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    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
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