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

    1226 16th S Ave Nashville, TN 37212-2902

    • High-rise multifamily apartments
    • 115,109 SF
    • 0.72 lot acres
    OFF-MARKET
    Last Sale
    Aug 19, 2022
    $26,300,000
    Value Estimations
    $22,195,000
    Show details
    Cap Rate Potential
    4.9%
    High-rise multifamily apartments
    Location Intelligence
    Property ID
    US80-1903620
    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

    • High-rise multifamily apartments

    Property Details for 1226 16th S Ave

    Year built
    2013
    Lot size
    0.72 lot acres
    Property size
    115,109 SF
    Zone code
    ORI
    Property type
    High-rise multifamily apartments
    APN
    104-08-0-235-00
    APU
    10408023500

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $24,290,000
      ML approach
      $7,945,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $19,995,000
      6.5%
      $18,460,000
      7%
      $17,140,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $20,927,000
      Market price range: $5.27M - $46.2M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $28,315,000
      Current use
      MEDICAL BUILDING
      $40,170,000
      Change: +42% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $33,325,000
      Change: +18% Conversion: Difficult
      OFFICE BUILDING
      $31,350,000
      Change: +11% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.7932
    Latitude
    36.1411
    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
    $244,520
    $1,204,000
    $6,310,436
    $7,514,436
    -
    $3,010,000
    $15,776,090
    $18,786,090

    Comparable in this City

    • Value Estimation
      $705,000
      58,174 SF

      1016 18th S Ave

      HIGH-RISE APARTMENTS • 58,174 SF
      1016 18th S Ave, Nashville, TN 37212-2105
      View Details
    • Value Estimation
      $865,000
      57,658 SF

      1906 Chet Atkins Pl

      HIGH-RISE APARTMENTS • 57,658 SF
      1906 Chet Atkins Pl, Nashville, TN 37212-2123
      View Details
    • Value Estimation
      $440,000
      90,742 SF

      2000 Grand Ave

      HIGH-RISE APARTMENTS • 90,742 SF
      2000 Grand Ave, Nashville, TN 37212-2101
      View Details
    • Value Estimation by Request
      1.46 Acres

      106 31st S Ave

      HIGH-RISE APARTMENTS • 1.46 Acres
      106 31st S Ave, Nashville, TN 37212-3344
      View Details
    • Value Estimation
      $595,000
      86,221 SF

      2115 Portland Ave

      HIGH-RISE APARTMENTS • 86,221 SF
      2115 Portland Ave, Nashville, TN 37212-3606
      View Details
    • Value Estimation
      $25,435,000
      80,995 SF

      1710 Belcourt Ave

      HIGH-RISE APARTMENTS • 80,995 SF
      1710 Belcourt Ave, Nashville, TN 37212-3752
      View Details

    Similar Nearby for Sale

    • $390,000
      1,115 SF

      Top Floor Condo in Nashville

      Luxury condo near Hillsboro Village, Vanderbilt, and Belmont Universities.
      2600 Hillsboro Pike, Nashville, TN 37212
      View Details
    • $335,000
      554 SF

      West End Poolside Condo

      Move-in ready condo with pool view and modern amenities.
      3000 Vanderbilt Pl, Nashville, TN 37212
      View Details
    • $469,900
      1,300 SF

      Hillsboro Village Condo with Amenities

      Move-in ready condo near Hillsboro Village with community amenities.
      2600 Hillsboro Pike, Nashville, TN 37212
      View Details
    • $865,000

      Nashville Duplex with Short-Term Rental

      Duplex property with grandfathered short-term rental permit in Nashville.
      3000 Brightwood Ave, Nashville, TN 37212
      View Details
    • $595,000
      1,732 SF

      LIVE/WORK opportunity right on Music Row!

      LIVE/WORK opportunity right on Music Row!
      1609 Deford Bailey Ave, Nashville, TN 37212
      View Details

    Similar Nearby for Lease

    • $1,900 /Mo

      Charming Nashville Apartment with Parking

      Three-bedroom apartment in gated community near Vanderbilt and Music Row.
      1504 18Th Ave S, Nashville, TN 37212
      View Details
    • $2,795 /Mo

      Peabody Square Townhome For Rent

      Townhome with bonus room, convenient to colleges.
      1605 Deford Bailey Ave, Nashville, TN 37212
      View Details
    • $1,025 /Mo

      Nashville Triplex with Garage

      Triplex unit near Downtown, Green Hills, Belmont, and Vanderbilt.
      1517 Sweetbriar Ave, Nashville, TN 37212
      View Details
    • $2,895 /Mo
      1,414 SF

      Hillsboro Village Townhome with Balconies

      Sleek 2BR townhome with fresh paint, hardwoods, and natural light.
      2110 Acklen Ave, Nashville, TN 37212
      View Details
    • $38 SF/Yr
      8,924 SF

      Office Space in Nashville

      8,924 SF office space available for lease.
      1001 17Th Ave S, Nashville, TN 37212
      View Details
    • Contact for pricing
      3,352 SF

      Nashville Office Space For Rent

      Office space available for lease in Nashville, Tennessee.
      1908 Blakemore Ave, Nashville, TN 37212
      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.
    1226 16th S Ave
    Nashville, TN 37212-2902
    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.