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

    1940 Air Ln Dr Nashville, TN 37210-3810

    • Office buildings
    • 8,005 SF
    • 1.19 lot acres
    OFF-MARKET
    Last Sale
    Apr 03, 2023
    $2,740,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-3417461
    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

    • Carpenter Wright Engineers / Engineering Consultant / Structural Engineer
    • Medical Ventures LLC / Production Facility

    Property Details for 1940 Air Ln Dr

    Year built
    1984
    Lot size
    1.19 lot acres
    Property size
    8,005 SF
    Zone code
    OR20
    Property type
    Office buildings
    APN
    095-14-0-123-00
    APU
    9514012300

    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
    -86.6979
    Latitude
    36.1492
    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
    $25,541
    $186,640
    $598,280
    $784,920
    -
    $466,600
    $1,495,700
    $1,962,300

    Comparable in this City

    • Value Estimation
      $34,930,000
      155,472 SF

      1131 4th S Ave

      OFFICE BUILDING • 155,472 SF
      1131 4th S Ave, Nashville, TN 37210-2603
      View Details
    • Value Estimation
      $1,230,000
      5,273 SF

      52 Lindsley Ave

      OFFICE BUILDING • 5,273 SF
      52 Lindsley Ave, Nashville, TN 37210-2535
      View Details
    • Value Estimation
      $16,060,000
      40,308 SF

      1654 Elm Hl Pike

      OFFICE BUILDING • 40,308 SF
      1654 Elm Hl Pike, Nashville, TN 37210-3638
      View Details
    • Value Estimation
      $1,650,000
      4,140 SF

      970 Fiber Glass Rd

      OFFICE BUILDING • 4,140 SF
      970 Fiber Glass Rd, Nashville, TN 37210-4633
      View Details
    • Value Estimation by Request
      864 SF

      105 Glenrose Cir

      OFFICE BUILDING • 864 SF
      105 Glenrose Cir, Nashville, TN 37210-5017
      View Details
    • Value Estimation by Request
      2,016 SF

      1307 Lewis St

      OFFICE BUILDING • 2,016 SF
      1307 Lewis St, Nashville, TN 37210-3411
      View Details

    Similar Nearby for Sale

    • $3,825,000
      8,775 SF

      Nashville Office Building For Sale

      8,775 SF office building available in Nashville, Tennessee.
      2809 Foster Ave, Nashville, TN 37210
      View Details
    • Contact for pricing
      7,940 SF

      Nashville CBD Office Space Available

      Office space in Nashville CBD with parking and branding opportunities.
      600 4Th Ave N, Nashville, TN 37210
      View Details
    • $1,100,000
      4,626 SF

      Unique Office and Light Industrial Building For Sale

      Unique Office and Light Industrial Building For Sale
      711 Hill Ave, Nashville, TN 37210
      View Details
    • Contact for pricing
      8,160 SF

      Nashville Mixed-Use Portfolio

      Downtown Nashville redevelopment opportunity.
      504 4Th Ave, Nashville, TN 37210
      View Details
    • $125,000
      0.05 Acres

      Great Tear Down, Build Opportunity in Rapidly Developing Area of Town

      Great Tear Down, Build Opportunity in Rapidly Developing Area of Town
      74 Fairfield Ave, Nashville, TN 37210
      View Details
    • Contact for pricing
      3,200 SF

      3,200 SF Warehouse For Sale

      3,200 SF Warehouse For Sale
      288B Hermitage Ave, Nashville, TN 37210
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,083 SF

      Nashville Office Building For Rent

      Office building with ample parking in Nashville, Tennessee.
      37 Peabody St, Nashville, TN 37210
      View Details
    • $24 SF/Yr
      20,000 SF

      Visible Office Building, Interstate Exposure

      20,000 SF office building with high visibility and ample parking.
      1809 Dabbs Ave, Nashville, TN 37210
      View Details
    • $288 SF/Yr
      38,099 SF

      Nashville Office Space - 9,525 SF

      Prime Nashville office, single-tenant, fully renovated.
      500 Interstate Blvd, Nashville, TN 37210
      View Details
    • $12 SF/Yr
      6,935 SF

      Nashville Office Space For Rent

      Office space for rent, easy access to interstates and airport.
      750 Massman Dr, Nashville, TN 37210
      View Details
    • $2,260 /Mo
      1,750 SF

      Versatile Office and Warehouse Space

      1,750 SF office with warehouse access in Nashville.
      205 Omohundro Pl, Nashville, TN 37210
      View Details
    • Contact for pricing
      1,960 SF

      Office Space with Basement Storage

      Office space featuring private offices, conference rooms, and basement storage.
      525 4Th Ave S, Nashville, TN 37210
      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.
    1940 Air Ln Dr
    Nashville, TN 37210-3810
    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.