Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    426 Iris Dr Nashville, TN 37204

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    426 Iris Dr Nashville, TN 37204

    View on Map
    • Residential income homes
    • 7,272 SF
    • 0.21 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Distinctive Landscape Inc / Landscaping / General Contractor

    Property Details for 426 Iris Dr

    Year built
    2023
    Lot size
    0.21 lot acres
    Property size
    7,272 SF
    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents a portfolio of four brand-new, fully furnished, luxury short-term rental units in Nashville's desirable Berry Hill neighborhood. Each unit boasts 1,812 square feet, featuring four bedrooms and three bathrooms, and is part of a two-building, three-story complex built in 2023. The 7,272 square foot property sits on a 0.21-acre lot and offers stunning downtown skyline views from its rooftop deck. Private outdoor areas are included with each unit. Currently operating at 100% occupancy, this turnkey investment generates a substantial pro-forma NOI of $61,921, representing a 7.75% cap rate on the $2,990,000 asking price. The property's prime location provides easy access to Nashville's vibrant culinary and entertainment scene. This is an exceptional opportunity to acquire a high-performing, low-maintenance investment property in a rapidly appreciating market. The property is zoned 4Zz. Two parking pads are available. Photos of one unit are available, with photos of the remaining units available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.7625
    Latitude
    36.1145

    Comparable in this City

    • Value Estimation
      $8,445,000
      53,292 SF

      Elliott Ave

      HIGH-RISE APARTMENTS • 53,292 SF
      Elliott Ave, Nashville, TN 37204
      View Details
    • Value Estimation
      $8,130,000
      75,036 SF

      811 Gale Ln

      HIGH-RISE APARTMENTS • 75,036 SF
      811 Gale Ln, Nashville, TN 37204-3005
      View Details
    • Value Estimation
      $17,310,000
      168,665 SF

      Elliott Ave

      HIGH-RISE APARTMENTS • 168,665 SF
      Elliott Ave, Nashville, TN 37204
      View Details
    • Value Estimation
      $14,080,000
      121,444 SF

      2608 8th S Ave

      HIGH-RISE APARTMENTS • 121,444 SF
      2608 8th S Ave, Nashville, TN 37204-2584
      View Details
    • Value Estimation by Request
      4.24 Acres

      625 Benton Ave

      HIGH-RISE APARTMENTS • 4.24 Acres
      625 Benton Ave, Nashville, TN 37204-2356
      View Details
    • Value Estimation by Request
      2,225 SF

      Nashville Tn Restaurant For Sale - Fully Equipped Sales Of $700 000

      Restaurants • 2,225 SF
      0 Nashville Tn Restaurant For Sale - Fully Equipped Sales Of $700 000, Nashville, TN 37204
      View Details

    Similar Nearby for Sale

    • $1,590,000
      1,281 SF

      Two Great Buildings on One Lot For Sale!

      Two Great Buildings on One Lot For Sale!
      2830 Azalea Pl, Nashville, TN 37204
      View Details
    • $2,400,000
      3,670 SF

      Berry Hill Live-Work Suites

      Live and work in Nashville's thriving mixed-use business district.
      2604 Westwood Dr, Nashville, TN 37204
      View Details
    • $2,400,000
      3,670 SF

      4 Home-Office Vacation Rental Apartments

      4 Home-Office Vacation Rental Apartments
      2604 Westwood Dr, Nashville, TN 37204
      View Details
    • $2,750,000
      4,400 SF

      Multifamily Property in Nashville

      Multifamily property with tenants in place, Nashville location.
      442 E Iris Dr, Nashville, TN 37204
      View Details
    • Contact for pricing
      4,176 SF

      Nashville Mixed-Use Investment Opportunity

      Versatile property near Downtown Nashville, suitable for various uses.
      2204 8Th Ave S, Nashville, TN 37204
      View Details
    • $1,700,000
      15,681 SF

      Nashville Infill Redevelopment Opportunity

      Prime site for mixed-use redevelopment in a growing Nashville submarket.
      2700 Greystone Rd, Nashville, TN 37204
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      41,614 SF

      Industrial Space Near I-65

      41,614 SF industrial space with office and warehouse.
      2961 Armory Dr, Nashville, TN 37204
      View Details
    • Contact for pricing
      1,133 SF

      Updated Office Space Available

      Office space with updated common areas and key card access.
      700 Craighead St, Nashville, TN 37204
      View Details
    • Contact for pricing
      43,800 SF

      Industrial Warehouse in 100 Oaks

      43,800 SF warehouse in prime 100 Oaks location.
      3332 Powell Ave, Nashville, TN 37204
      View Details
    • Contact for pricing
      2,440 SF

      Nashville Office Space For Rent

      Office space available for rent in Nashville, Tennessee.
      2301 12Th Ave S, Nashville, TN 37204
      View Details
    • Contact for pricing
      29,250 SF

      Nashville Office Space For Rent

      Office space available for rent in Nashville, Tennessee.
      2212-2214 12Th Ave S, Nashville, TN 37204
      View Details
    • Contact for pricing
      3,800 SF

      Nashville Office Space For Rent

      Office space available for lease in Nashville, Tennessee.
      2912 Sidco Dr, Nashville, TN 37204
      View Details
    Request Owner's contact information
    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.
    426 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
    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

    Thank You for Inquiry

    426 Iris Dr, Nashville, TN, 37204

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!