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    7982 Coley Davis Rd Nashville, TN 37221

    Sponsored
    For Sale
    $540,000

    Bellevue Office Condo: Prime Location, High ROI

    Property size:
    1,480 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    415
    This 1,480 sq ft Class B office condo in Nashville's desirable Bellevue area presents a compelling investment opportunity. Located at 7982 Coley Davis Road, Suite 101, this single-unit property, built in 2005, boasts a net lease with a single tenant and a strong 6.70% cap rate, generating a net operating income (NOI) of $36,186. The asking price is $540,000, translating to $364.86 per square foot. The property features a flexible open floor plan, recently updated with fresh paint and new flooring, ideal for various office configurations. It includes a private outdoor patio, a reception area, conference room, cubicles, filing room, utility closet, bathroom, and storage room. The property benefits from its convenient location, offering easy access to I-40 and Highway 70, proximity to public transportation, and less than a 15-minute commute to universities, hospitals, downtown Nashville, and surrounding affluent areas. Abundant nearby amenities include various restaurants, banks, and retail establishments. The lease includes annual rent bumps of 3%. The property is zoned COM. This is a turnkey investment perfect for owner-occupancy or continued leasing. Tenant improvement allowances and rent concessions are available.

    Property Features for 7982 Coley Davis Rd

    General Information

    Property type
    Office space
    Square Feet
    1,480 SF
    Class
    B

    Building Details

    Year Built
    2005
    Units
    1

    We can help!

    Listing Contact
    Alexander Delgado
    Alexander Delgado

    Learn more

    Property Insight Report

    HighLights

    • $540,000 asking price for a 1,480 sq ft Class B office condo in Nashville, TN.
    • Net lease investment opportunity with a 6.70% cap rate and $36,186 NOI.
    • Located in the Harpeth Springs Business Park, Bellevue, offering easy access to I‑40 and Highway 70.
    • Single‑tenant, 1‑unit property built in 2005 with a COM zoning designation.
    • Features a 3% annual rent bump and a broker co‑op program.
    Property Profile Location Intelligence

    Current Use by Public Records

    Custom Fit Bookkeeping ... Tax Preparation Service Nichols Management Engineering Consultant Protection Plus Security Security Guard Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.966676663817
    Latitude
    36.074890040783

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    FAQs

    What type of property is this?
    Office space - Bellevue Office Condo: Prime Location, High ROI
    Where is this office space located?
    The property is located at 7982 Coley Davis Rd Nashville, TN.
    What is the asking price?
    The asking price for this property is $540,000.
    What are key features of this property?
    This property features: $540,000 asking price for a 1,480 sq ft Class B office condo in Nashville, TN.; Net lease investment opportunity with a 6.70% cap rate and $36,186 NOI.; Located in the Harpeth Springs Business Park, Bellevue, offering easy access to I-40 and Highway 70.
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    Nashville, TN 37221
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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
    7982 Coley Davis Rd Nashville, TN 37221
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    We can help!
    Listing Contact
    Alexander Delgado
    Alexander Delgado
    Real Estate License ID: TN 284580
    Learn more
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