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    Property profile & analytics

    1915 Columbia Ave Franklin, TN 37064-3921

    • Office Properties & Spaces
    • 4,850 SF
    • 0.40 lot acres
    OFF-MARKET
    Last Sale
    Feb 16, 2025
    $1,800,000
    Value Estimations
    $2,400,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0512293
    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

    • RIP-Regional Intervention Program Franklin / Family Counselor

    Property Details for 1915 Columbia Ave

    Year built
    1975
    Construction
    FRAME
    Lot size
    0.40 lot acres
    Property size
    4,850 SF
    Property type
    Office Properties & Spaces
    APN
    094090G B 01900
    APU
    094090GB01900

    Description

    This exceptional 4,997-square-foot flex building, located at 1915 Columbia Ave in Franklin, Tennessee, presents a unique investment opportunity for owner-users. Situated on a spacious 14,615-square-foot lot (APN: 090G B 019.00 00), this single-story Class C industrial property boasts a 15-foot ceiling height, perfect for various uses. Built in 1975 and renovated in 1990, the building currently features 18 private offices, a conference room, break room, reception area, storage rooms, waiting room, and restrooms. A significant advantage is the inclusion of one loading dock and one dock-high door, facilitating efficient loading and unloading. The property is zoned for commercial use and is readily adaptable. The existing interior layout is easily modified; permits are available for interior demolition and construction to convert the space into a warehouse configuration, offering considerable flexibility for future tenants or owners. This prime Franklin location, within Williamson County, offers convenient access to major transportation routes and amenities. The asking price for this versatile property is $1,950,000. This is a rare opportunity to acquire a well-located, adaptable industrial space in a thriving market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,420,000
      ML approach
      $2,530,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,897,000
      Market price range: $1.50M - $3.73M

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Williamson
    State
    Tennessee
    Longitude
    -86.876
    Latitude
    35.8969
    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
    $11,923
    $114,160
    $324,000
    $438,160
    -
    $336,000
    $953,700
    $1,289,700

    Comparable in this City

    • Value Estimation
      $925,000
      159,934 SF

      725 Cool Spgs Ct

      OFFICE (GENERAL) • 159,934 SF
      725 Cool Spgs Ct, Franklin, TN 37064
      View Details
    • Value Estimation
      $2,495,000
      5,139 SF

      329 Royal Oaks Blvd

      OFFICE (GENERAL) • 5,139 SF
      329 Royal Oaks Blvd, Franklin, TN 37064-8207
      View Details
    • Value Estimation
      $725,000
      14,068 SF

      198 Main St

      OFFICE (GENERAL) • 14,068 SF
      198 Main St, Franklin, TN 37064-2516
      View Details
    • Value Estimation
      $3,035,000
      8,416 SF

      111 Pkwy Ct

      OFFICE (GENERAL) • 8,416 SF
      111 Pkwy Ct, Franklin, TN 37064-4009
      View Details
    • Value Estimation
      $2,115,000
      6,400 SF

      329 Royal Oaks Blvd

      OFFICE (GENERAL) • 6,400 SF
      329 Royal Oaks Blvd, Franklin, TN 37064-8207
      View Details
    • Value Estimation
      $2,585,000
      2,480 SF

      101 Forrest Xing Blvd Ste, Unit 103

      OFFICE (GENERAL) • 2,480 SF
      101 Forrest Xing Blvd Ste, Franklin, TN 37064-5430
      View Details

    Similar Nearby for Sale

    • $1,950,000
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      Franklin Office Building - Great Location!

      15 Offices, Loading Dock, 4,950 SF
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      Prime Franklin Commercial Land

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    Similar Nearby for Lease

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      Franklin Office Space For Lease

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      20,000 square foot office space for rent in Franklin.
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    • $21 SF/Yr
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      Franklin Business Park Office Space

      Office space for rent in Franklin Business Park.
      1715 Columbia Ave, Franklin, TN 37064
      View Details
    • Contact for pricing
      135 SF

      Executive Office Space For Rent

      Private office in Franklin, TN with full-service lease.
      400 Sugartree Ln, Franklin, TN 37064
      View Details
    • $35 SF/Yr
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      Class A Office Space Available

      Sublease opportunity with brand new buildout and immediate availability.
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      View Details
    • $28 SF/Yr
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      Riverside Drive Office Space Available

      Office space with balcony available for immediate occupancy.
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      View Details
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    1915 Columbia Ave
    Franklin, TN 37064-3921
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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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