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

    1015 Kelley Dr Paris, TN 38242-5819

    • Medical Office Space
    • 20,500 SF
    • 1.29 lot acres
    OFF-MARKET
    Value Estimations
    $1,365,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-3433091
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Lindsay Foust, DPM / Physician
    • Mark F. Aaron, MD / Physician
    • Jean Monette / Physician
    • Paul Locus / Physician
    • Ascension Saint Thomas Heart Paris Comprehensive Heart Failure and Transplant Center / Physician

    Property Details for 1015 Kelley Dr

    Year built
    2003
    Construction
    FRAME
    Lot size
    1.29 lot acres
    Property size
    20,500 SF
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    040106 02805
    APU
    4010602805

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,365,000
      Market price range: $942k - $1.80M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,365,000
      Current use
      COMMERCIAL (GENERAL)
      $1,760,000
      Change: +29% Conversion: Easy
      RESTAURANT
      $1,445,000
      Change: +6% Conversion: Difficult
      RETAIL STORES
      $1,420,000
      Change: +4% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Paris
    County
    Henry
    State
    Tennessee
    Longitude
    -88.3089
    Latitude
    36.2952
    CBSA code
    37540
    CBSA name
    PARIS, TN MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $83,200
    $2,536,900
    $2,620,100

    Comparable in this City

    • Value Estimation by Request
      2,388 SF

      224 Memorial Dr

      MEDICAL BUILDING • 2,388 SF
      224 Memorial Dr, Paris, TN 38242-5416
      View Details
    • Value Estimation by Request
      6,027 SF

      243 Jim Adams Dr

      MEDICAL BUILDING • 6,027 SF
      243 Jim Adams Dr, Paris, TN 38242-4967
      View Details
    • Value Estimation
      $660,000
      9,257 SF

      1024 Kelley Dr

      MEDICAL BUILDING • 9,257 SF
      1024 Kelley Dr, Paris, TN 38242-4500
      View Details
    • Value Estimation by Request
      3,957 SF

      1001 Cornerstone Dr

      MEDICAL BUILDING • 3,957 SF
      1001 Cornerstone Dr, Paris, TN 38242-5811
      View Details
    • Value Estimation by Request
      2,912 SF

      1203 Wood St

      MEDICAL BUILDING • 2,912 SF
      1203 Wood St, Paris, TN 38242-4317
      View Details
    • Value Estimation
      $525,000
      7,840 SF

      57 Commerce St

      MEDICAL BUILDING • 7,840 SF
      57 Commerce St, Paris, TN 38242-4917
      View Details

    Similar Nearby for Sale

    • $259,900
      2,336 SF

      Commercial Building Near Downtown Paris

      Commercial building near downtown Paris, Tennessee, suitable for various businesses.
      707 E Wood St, Paris, TN 38242
      View Details
    • $455,000
      4,501 SF

      Downtown Paris Commercial Investment Opportunity

      Renovated 5-unit property in downtown Paris, TN. $50,000+ GRI.
      117 E Wood St, Paris, TN 38242
      View Details
    • New
      $248,000
      4,050 SF

      Paris, TN Investment Opportunity

      Three-suite commercial building in Paris, TN, fully leased.
      113 Wood St, Paris, TN 38242
      View Details
    • Contact for pricing
      1,750 SF

      Versatile Commercial Building for Lease

      Multi-purpose commercial building for lease in Paris, Tennessee.
      780 Fairgrounds Rd, Paris, TN 38242
      View Details
    • $1,800,000
      1,605 SF

      Commercial Property with Residential Component

      Commercial property with residence, shop, office, and fuel tank.
      2819 Highway 54, Paris, TN 38242
      View Details
    • $350,000
      0.14 Acres

      Prime Paris, TN Office Building

      2,560 SF Office/Land - $350K
      1102 Mineral Wells Ave, Paris, TN 38242
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,000 SF

      Retail Space Near US Hwy

      Retail space available near US Hwy 77 in Paris, TN.
      1384 Mineral Wells Ave, Paris, TN 38242
      View Details
    • Contact for pricing

      High-Profile Retail Site For Rent

      Prime retail location near Paris Crossing development with high visibility.
      - Paris Parcel 20/21 Mineral Wells Ave, Paris, TN 38242
      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.
    1015 Kelley Dr
    Paris, TN 38242-5819
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!