Sign Up Successful!
You now have access to more from Realmo!
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

    115 Spence Ln Nashville, TN 37210-2506

    • Warehouses
    • 10,000 SF
    • 1.10 lot acres
    OFF-MARKET
    Value Estimations
    $820,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0117538
    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

    • ERT Heating & Air / Hvac Contractor / Furnace Repair Service
    • Energy Reduction Team / Insulation Contractor

    Property Details for 115 Spence Ln

    Year built
    1976
    Lot size
    1.10 lot acres
    Property size
    10,000 SF
    Zone code
    IWD
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    094-00-0-138-00
    APU
    9400013800

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $630,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,009,000
      Market price range: $386k - $1.24M

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.722
    Latitude
    36.1608
    CBSA code
    34980
    CBSA name
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN 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
    2023
    $20,361
    $68,200
    $557,520
    $625,720
    -
    $170,500
    $1,393,800
    $1,564,300

    Comparable in this City

    • Value Estimation
      $1,060,000
      179,990 SF

      1641 Lebanon Pike Cir

      MINI-WAREHOUSE, STORAGE • 179,990 SF
      1641 Lebanon Pike Cir, Nashville, TN 37210-3232
      View Details
    • Value Estimation
      $1,255,000
      69,508 SF

      1865 Air Ln Dr

      MINI-WAREHOUSE, STORAGE • 69,508 SF
      1865 Air Ln Dr, Nashville, TN 37210-3814
      View Details
    • Value Estimation by Request
      9,247 SF

      1301 4th S Ave

      MINI-WAREHOUSE, STORAGE • 9,247 SF
      1301 4th S Ave, Nashville, TN 37210-4120
      View Details
    • Value Estimation by Request
      3,200 SF

      58 Nance Ln

      MINI-WAREHOUSE, STORAGE • 3,200 SF
      58 Nance Ln, Nashville, TN 37210-4335
      View Details
    • Value Estimation
      $1,290,000
      13,335 SF

      145 Lyle Ln

      MINI-WAREHOUSE, STORAGE • 13,335 SF
      145 Lyle Ln, Nashville, TN 37210-4732
      View Details
    • Value Estimation
      $405,000
      1,350 SF

      59 Factory St

      MINI-WAREHOUSE, STORAGE • 1,350 SF
      59 Factory St, Nashville, TN 37210-4219
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,200 SF

      3,200 SF Warehouse For Sale

      3,200 SF Warehouse For Sale
      288B Hermitage Ave, Nashville, TN 37210
      View Details
    • $2,350,000
      8,240 SF

      Nashville Warehouse: Owner-User Opportunity

      8,240 SF Warehouse, $2.35M
      933 Visco Dr, Nashville, TN 37210
      View Details
    • Contact for pricing
      50,420 SF

      Renovated Warehouse with Expansion Potential

      50,420 SF warehouse with office space and expansion potential.
      1101 Menzler Rd, Nashville, TN 37210
      View Details
    • $4,000,000
      34,261 SF

      Nashville Warehouse - $4M

      34,261 SF Warehouse, Prime Location
      1101 Polk Ave, Nashville, TN 37210
      View Details
    • Contact for pricing
      282,500 SF

      Nashville Industrial Property in Opportunity Zone

      282,500 SF industrial property on 17.24 acres near downtown.
      191 Polk Ave, Nashville, TN 37210
      View Details
    • $4,000,000
      34,261 SF

      Nashville Industrial Building For Sale

      34,261 SF industrial building on 1.5 acres in Nashville.
      1101 Polk Ave, Nashville, TN 37210
      View Details

    Similar Nearby for Lease

    • $11 SF/Yr
      104,331 SF

      Nashville Warehouse Space for Lease

      Airport Submarket, Infill Warehouse, Divisible
      700 Massman Dr, Nashville, TN 37210
      View Details
    • $11 SF/Yr
      104,331 SF

      Nashville Warehouse Space for Lease

      Prime Airport Submarket Warehouse
      710 Massman Dr, Nashville, TN 37210
      View Details
    • Contact for pricing
      20,011 SF

      Industrial Space with Office

      20,011 SF industrial space with office for lease.
      1931 Air Lane Dr, Nashville, TN 37210
      View Details
    • $2,260 /Mo
      1,750 SF

      Versatile Office and Warehouse Space

      1,750 SF office with warehouse access in Nashville.
      205 Omohundro Pl, Nashville, TN 37210
      View Details
    • $2,100,000
      9,460 SF

      Freestanding Industrial Building For Lease

      Industrial building with loading platform and easy highway access.
      1004 Old Tree Ct, Nashville, TN 37210
      View Details
    • $21 SF/Yr
      3,750 SF

      Nashville Warehouse Space Available

      3,750 SF warehouse space for rent in Nashville.
      476 Woodycrest Ave, Nashville, TN 37210
      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.
    115 Spence Ln
    Nashville, TN 37210-2506
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.