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

    1515 Phillips St Nashville, TN 37208

    • Sports & entertainment properties
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    Sep 05, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1708277
    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

    • Sports & entertainment properties

    Property Details for 1515 Phillips St

    Lot size
    0.19 lot acres
    Zone code
    RM20
    Property type
    Sports & entertainment properties
    APN
    092-04-0-048-00
    APU
    9204004800

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.8015
    Latitude
    36.1681
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $270,000
    $0.00
    $270,000

    Comparable in this City

    • Value Estimation by Request
      0.09 Acres

      1514 Jackson St

      RECREATIONAL, ENTERTAINMENT • 0.09 Acres
      1514 Jackson St, Nashville, TN 37208
      View Details
    • Value Estimation by Request
      0.14 Acres

      1516 Jackson St

      RECREATIONAL, ENTERTAINMENT • 0.14 Acres
      1516 Jackson St, Nashville, TN 37208
      View Details
    • Value Estimation by Request
      7,424 SF

      1027 12th N Ave

      AUDITORIUM • 7,424 SF
      1027 12th N Ave, Nashville, TN 37208-3052
      View Details
    • Value Estimation by Request
      19.17 Acres

      2231 26th N Ave

      GOLF COURSE • 19.17 Acres
      2231 26th N Ave, Nashville, TN 37208-1021
      View Details
    • Value Estimation by Request
      4,873 SF

      1101 Jackson St

      AUDITORIUM • 4,873 SF
      1101 Jackson St, Nashville, TN 37208-3119
      View Details
    • Value Estimation by Request
      6,650 SF

      1200 Dr Db Todd Jr Blvd

      AUDITORIUM • 6,650 SF
      1200 Dr Db Todd Jr Blvd, Nashville, TN 37208-2950
      View Details

    Similar Nearby for Sale

    • $242,500
      1.57 Acres

      Rare Land for Sale Over an Acre in North Nashville

      Rare Land for Sale Over an Acre in North Nashville
      0 Delk Ave, Nashville, TN 37208
      View Details
    • $433,000
      0.20 Acres

      Investor or Builder Alert! Prime Potential in a Rapidly Growing Area

      Investor or Builder Alert! Prime Potential in a Rapidly Growing Area
      1831 10th Ave N, Nashville, TN 37208
      View Details
    • $199,000
      0.11 Acres

      Potential Commercial Opportunity Zoned Residential

      Potential Commercial Opportunity Zoned Residential
      1749 Dr Db Todd Jr Blvd, Nashville, TN 37208
      View Details
    • $325,000
      0.03 Acres

      Great Investment Building Lot, Vacant, Plans Available

      Great Investment Building Lot, Vacant, Plans Available
      2014A 9th Ave N, Nashville, TN 37208
      View Details
    • $830,000
      2,204 SF

      2,204 SF · Multi-Family For Sale · 6 Beds

      2,204 SF · Multi-Family For Sale · 6 Beds
      2405 Meharry Blvd Nashville, Nashville, TN 37208
      View Details
    • $239,900
      0.13 Acres

      Great Opportunity to Build in Sought After Area of Town!

      Great Opportunity to Build in Sought After Area of Town!
      1823 12th Ave N, Nashville, TN 37208
      View Details

    Similar Nearby for Lease

    • $36 SF/Yr
      2,681 SF

      2,681 SF Retail Space For Lease in Prime Location

      2,681 SF Retail Space For Lease in Prime Location
      2600 Clifton Ave, Nashville, TN 37208
      View Details
    • Contact for pricing
      35,000 SF

      Downtown Nashville Office Space Available

      Office space with views of Downtown, Cumberland River, and Capitol.
      416 Jefferson St, Nashville, TN 37208
      View Details
    • $1,500 /Mo

      Germantown 2BE/1BA Unit For Rent

      Recently updated 2BE/1BA unit in Germantown, near Downtown Nashville.
      1606 14Th Ave N, Nashville, TN 37208
      View Details
    • Contact for pricing

      Prime Land in 8th Avenue

      Land for rent in a high-traffic Nashville location.
      2015 8Th Ave S, Nashville, TN 37208
      View Details
    • $35 SF/Yr
      2,150 SF

      Corner Retail Space with Patio

      Retail space in mixed-use building, Chestnut Hill neighborhood.
      1111 3Rd Ave S, Nashville, TN 37208
      View Details
    • $36 SF/Yr
      2,500 SF

      Prime Retail/Office Space Available

      High-visibility retail/office space with convenient access and free parking.
      909 8Th Ave S, Nashville, TN 37208
      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.
    1515 Phillips St
    Nashville, TN 37208
    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.