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    1611 16th S Ave Nashville, TN 37212-2907
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    Property profile & analytics

    1611 16th S Ave, Nashville, TN 37212-2907

    View on Map
    • Individual retail properties
    • 3,312 SF
    • 0.20 lot acres
    Off-Market
    Last Sale Jan 11, 2021
    $850,000
    Property ID
    US80-1837899
    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.
    Value Estimations
    $950,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Red Griffin Designs / Event Planning / Wedding Service
    • Bangarang Beauty Co / Hair Salon / Nail Salon

    Property Details for 1611 16th S Ave

    Year built
    1922
    Lot size
    0.20 lot acres
    Zone code
    OR20
    Property type
    Individual retail properties
    APN
    104-08-0-323-00
    APU
    10408032300

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 11, 2021 $850,000 Kb4 Properties LLC Boby W Hurt Special Warranty Deed —
    Aug 3, 2001 $225,000 Bobby W Hurt Prater,alice R Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $925,000
      ML approach
      $960,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,156,000
      Market price range: $443k - $1.16M

    • Alternative Use

      Use
      Estimation
      LAUNDROMAT (SELF-SERVICE)
      $1,035,000
      Current use
      RETAIL STORES
      $1,530,000
      Change: +48% Conversion: Difficult
      MEDICAL BUILDING
      $1,155,000
      Change: +12% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $960,000
      Change: -7% Conversion: Difficult
      OFFICE BUILDING
      $900,000
      Change: -13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.7945
    Latitude
    36.1381
    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
    $16,679
    $328,320
    $184,240
    $512,560
    -
    $820,800
    $460,600
    $1,281,400

    Comparable in this City

    • Value Estimation
      $515,000
      1,558 SF

      2130 21st S Ave

      LAUNDROMAT (SELF-SERVICE)
      2130 21st S Ave, Nashville, TN 37212-4318
      View Details
    • Value Estimation
      $905,000
      12,290 SF

      1026 17th S Ave

      FINANCIAL BUILDING
      1026 17th S Ave, Nashville, TN 37212-2202
      View Details
    • Value Estimation
      $5,155,000
      32,429 SF

      2201 21st S Ave

      GROCERY, SUPERMARKET
      2201 21st S Ave, Nashville, TN 37212-4906
      View Details
    • Value Estimation
      $1,160,000
      9,513 SF

      3110 Belmont Blvd

      GROCERY, SUPERMARKET
      3110 Belmont Blvd, Nashville, TN 37212-6004
      View Details
    • Value Estimation by Request
      5,055 SF

      1013 16th S Ave

      FINANCIAL BUILDING
      1013 16th S Ave, Nashville, TN 37212-2302
      View Details
    • Value Estimation
      $600,000
      5,331 SF

      2000 Wedgewood Ave

      FINANCIAL BUILDING
      2000 Wedgewood Ave, Nashville, TN 37212-3734
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Stand-alone office building in the heart of Music Row.
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      30,359 SF

      Nashville Retail Space For Sale

      30,359 SqFt retail space available in Nashville, TN.
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      View Details
    • $4,500,000

      Prime Nashville Retail Investment Opportunity

      Located in the heart of Nashville's Hillsboro Village and Green Hills.
      2525 21St Ave South, Nashville, TN 37212
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    • $2,499,999
      3,690 SF

      Prime Music Row Office Space

      3,700 SF commercial office space in historic Music Row.
      1233 17Th Ave S, Nashville, TN 37212
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Nashville F&B Space

      Second-generation light F&B space near Vanderbilt and Belmont Universities.
      1009B 17Th Ave South, Nashville, TN 37212
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      Prime Retail Space in Nashville

      Retail/restaurant space in vibrant, walkable Hillsboro Village.
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      6,250 SF

      Free Standing Retail Space

      6,250 SF, two-story retail space available for rent.
      1601 21St 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
    • Contact for pricing

      Nashville Office Space for Lease

      Two-story office building with ample parking in West End.
      115 29Th Ave South, Nashville, TN 37212
      View Details
    • Contact for pricing
      1,272 SF

      Office Space in Nashville

      8,924 SF office space available for lease.
      1001-1011 17Th Ave S, Nashville, TN 37212
      View Details
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    Nashville, TN 37212-2907
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    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
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