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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1717 Patterson St Nashville, TN 37203-2925

    • Medical offices
    • 13,554 SF
    • 1.37 lot acres
    OFF-MARKET
    Last Sale
    Jul 20, 2020
    Value Estimations
    $3,060,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1177550
    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

    • Surgical Care Affiliates LLC / Surgical Center
    • Southern Joint Surgery Center / Surgical Center
    • MICHAEL J. CHRISTIE / Orthopedic Surgeon
    • ROBERT JOEL OTTO / Orthopedic Surgeon
    • JEFFREY THOMAS HODRICK / Orthopedic Surgeon

    Property Details for 1717 Patterson St

    Year built
    1991
    Lot size
    1.37 lot acres
    Property size
    13,554 SF
    Zone code
    MUI-A
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    092-12-0-139-00
    APU
    9212013900

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,395,000
      6.5%
      $2,210,000
      7%
      $2,050,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,988,000
      Market price range: $782k - $2.99M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $4,730,000
      Current use
      OFFICE BUILDING
      $4,525,000
      Change: -4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.7977
    Latitude
    36.1572
    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
    $134,195
    $2,975,000
    $1,149,000
    $4,124,000
    -
    $7,437,500
    $2,872,500
    $10,310,000

    Comparable in this City

    • Value Estimation
      $11,445,000
      50,704 SF

      1919 Charlotte Ave

      MEDICAL BUILDING • 50,704 SF
      1919 Charlotte Ave, Nashville, TN 37203-2161
      View Details
    • Value Estimation
      $855,000
      5,207 SF

      1800 Charlotte Ave

      MEDICAL BUILDING • 5,207 SF
      1800 Charlotte Ave, Nashville, TN 37203-2105
      View Details
    • Value Estimation
      $3,800,000
      10,728 SF

      342 22nd N Ave

      MEDICAL BUILDING • 10,728 SF
      342 22nd N Ave, Nashville, TN 37203-1844
      View Details
    • Value Estimation
      $12,730,000
      52,741 SF

      310 25th N Ave

      MEDICAL BUILDING • 52,741 SF
      310 25th N Ave, Nashville, TN 37203-1515
      View Details
    • Value Estimation by Request
      1,786 SF

      329 21st Ave N Ste, Unit 1

      MEDICAL BUILDING • 1,786 SF
      329 21st Ave N Ste, Nashville, TN 37203-1857
      View Details
    • Value Estimation by Request
      2,206 SF

      2201 Murphy Ave Ste, Unit 101

      MEDICAL BUILDING • 2,206 SF
      2201 Murphy Ave Ste, Nashville, TN 37203-1835
      View Details

    Similar Nearby for Sale

    • $2,450,000
      3,654 SF

      3,654 SF Office/Medical For Sale

      3,654 SF Office/Medical For Sale
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      View Details
    • $4,000,000
      5,623 SF

      Nashville Medical Office Building For Sale

      Medical office building in Nashville's healthcare corridor, ideal for owner-users.
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    • $5,900,000
      6,302 SF

      Nashville Mixed-Use Redevelopment Opportunity

      Prime Midtown Nashville location, 6,302 SF, high growth area.
      1811 Charlotte Ave, Nashville, TN 37203
      View Details
    • $5,750,000
      12,400 SF

      Nashville Office Building For Sale

      Office building with 12,400 square feet of space available.
      1707 Division St, Nashville, TN 37203
      View Details
    • $3,200,000
      10,419 SF

      West End Avenue Office Building

      Three-story office building with basement, renovated, parking, and architectural details.
      3301 W End Ave, Nashville, TN 37203
      View Details
    • $239,000

      West End Commercial Office Studio

      First-floor office/studio with private entrance and parking on West End.
      3415 W End Ave, Nashville, TN 37203
      View Details

    Similar Nearby for Lease

    • $34 SF/Yr
      33,364 SF

      West End Ave Office Space

      Nashville Office Building, Flexible Suites
      3212 End Ave, Nashville, TN 37203
      View Details
    • $13 SF/Yr
      7,680 SF

      Nashville Office Space at Music Circle

      Flexible Workspace Solutions in Nashville
      1 Music Cir, Nashville, TN 37203
      View Details
    • $6,000 /Mo

      Two-Story Office Building For Rent

      Two-story office building suitable for various business or retail uses.
      1704 8Th Ave S, Nashville, TN 37203
      View Details
    • $23 SF/Yr
      2,556 SF

      Midtown Nashville Office Space

      ±2,556 SF Office, 10 Parking Spaces
      1915 Church St, Nashville, TN 37203
      View Details
    • Contact for pricing
      14,588 SF

      Nashville Office Space for Lease

      Midtown Nashville Office, 3,000-7,924 SF Available
      1911 Church St, Nashville, TN 37203
      View Details
    • $32 SF/Yr
      55,000 SF

      Church Street Office Building

      Nashville Midtown Office Space: 55,000 SF
      1900 Church St, Nashville, TN 37203
      View Details
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    1717 Patterson St
    Nashville, TN 37203-2925
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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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