Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    633 W Iris Dr Nashville, TN 37204

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,099,000

    Retail space in Berry Hill near downtown Nashville.

    Property size:
    1,950 SF
    Lot size:
    0.22 Acres

    Property Features for 633 W Iris Dr

    General Information

    Standard status
    Active
    Size
    1,950 SF
    Lot size
    0.22 Acres

    Building Details

    Year built
    1945

    We can help!

    Listing Contact
    Greg Mabey
    Greg Mabey
    Source: Corcoran

    Listing Agency: LIBERTY REALTY & AUCTION Listing Agent: Greg Mabey

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Berry Hill Retail Space Available

    Located in Berry Hill, this property offers a retail space with three entrances to the main building. The finished basement includes a separate entrance. The fenced backyard features a handicap ramp leading to the main building. There are 8 parking spots in the front and 5 in the back. The building is equipped with a 200 amp electrical service, speakers in most rooms, and washer and dryer hookups. The property is suitable for uses permitted in district 6 according to berryhilltn.gov. A multi-million dollar development was approved on January 8, 2024, to redevelop the Columbine Park area, which is within walking distance of the property. The property is surrounded by recording studios and publishing companies and is located minutes from downtown Nashville, BNA airport, and other districts. The property size is 1950 square feet.
    Location Intelligence

    Current Use by Public Records

    Euphoria Salon Nashville Hair Salon Purple Iris Business Management Consultant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.76951
    Latitude
    36.11561

    Nearby Similar for Sale

    • $5,000,000
      20,568 SF

      Dickerson Pike Commercial Showroom

      17,568 SF showroom on Dickerson Pike, Nashville. For sale.
      3800 Dickerson Pike, Nashville, TN 37207
      View Details
    • $739,900

      Renovated Plaza Near Nashville Zoo

      Freestanding plaza with multiple income streams near Nashville Zoo.
      408 Elysian Fields Rd, Nashville, TN 37211
      View Details
    • $549,000
      1,848 SF

      Bellevue Office Park Condominium

      Commercial condo in Bellevue Office Park, Nashville, for sale.
      165 Belle Forest Cir, Nashville, TN 37221
      View Details
    • $450,000
      1,065 SF

      Lenox Village Commercial Property

      Commercial property with fenced patio, suitable for various businesses.
      7009 Lenox Village Dr, Nashville, TN 37211
      View Details
    • $2,000,000
      5,002 SF

      Free-Standing Building in West End

      5,000 SF building in West End near Vanderbilt University.
      1912 Church St, Nashville, TN 37203
      View Details
    • $1,300,000
      2,928 SF

      Industrial/Flex Property Near I-440

      2,928 SF industrial/flex property with warehouse and office space.
      2612 Winford Ave, Nashville, TN 37211
      View Details
    • $1,800,000
      4,300 SF

      Berry Hill Mixed-Use Opportunity

      Two adjacent parcels in Nashville's growing creative district.
      2686 Fessey Ct, Nashville, TN 37204
      View Details
    • $945,000
      884 SF

      Wedgewood-Houston Live/Work Corner Unit

      Loft-style condo in dynamic district, ideal for living/working.
      1250 Martin St, Nashville, TN 37203
      View Details
    • $1,975,000
      2,240 SF

      Berry Hill Corner Lot Building

      Commercial building on corner lot in developing Berry Hill.
      2799 Bransford Ave, Nashville, TN 37204
      View Details
    • $259,900
      932 SF

      Versatile Commercial Space For Sale

      Adaptable commercial space suitable for various business ventures.
      2643 Smith Springs Rd, Nashville, TN 37217
      View Details
    • $1,350,000
      1,290 SF

      Turn-Key Recording Studio in Nashville

      Fully furnished recording studio in Wedgewood-Houston, ready for its next chapter.
      370 Herron Dr, Nashville, TN 37210
      View Details
    • $739,900
      1,215 SF

      Renovated Plaza Near Nashville Zoo

      Freestanding plaza with income streams near Nashville Zoo.
      408 Elysian Fields Rd, Nashville, TN 37211
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail space in Berry Hill near downtown Nashville.
    Where is this retail space located?
    The property is located at 633 W Iris Dr Nashville, TN.
    What is the asking price?
    The asking price for this property is $1,099,000.
    What are key features of this property?
    This property features: - Located in Berry Hill, the heartbeat of Music City, surrounded by recording studios and publishing companies.; - Approved multi-million dollar development of Columbine Park within walking distance.; - Multiple entrances (3 to main building, 1 separate entrance to finished basement).
    (615) 604-0903
    Request Owner's contact information
    633 W Iris Dr Nashville, TN 37204
    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.
    633 W Iris Dr
    Nashville, TN 37204
    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
    633 W Iris Dr Nashville, TN 37204
    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
    Greg Mabey
    Greg Mabey
    Real Estate License ID: 249300
    (615) 604-0903 (615) 321-5539
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!