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

    201 23rd N Ave Nashville, TN 37203-1501

    • Medical offices
    • 11,958 SF
    • 0.48 lot acres
    OFF-MARKET
    Value Estimations
    $2,565,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0727299
    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

    • Lori Star / Nurse Practitioner
    • Dr. Audrey H. Kang, MD / Obstetrician-Gynecologist
    • Dr. Cornelia R. Graves, MD / Obstetrician-Gynecologist
    • Tennessee Maternal Fetal Medicine / Medical Group / Maternity Hospital
    • Scott Patricia L MD / Obstetrician-Gynecologist

    Property Details for 201 23rd N Ave

    Year built
    1994
    Lot size
    0.48 lot acres
    Property size
    11,958 SF
    Zone code
    MUG-A
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    092-15-0-041-00
    APU
    9215004100

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,110,000
      6.5%
      $1,950,000
      7%
      $1,810,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,248,000
      Market price range: $689k - $2.64M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $4,175,000
      Current use
      OFFICE BUILDING
      $3,990,000
      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
    -86.8065
    Latitude
    36.1508
    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
    $66,927
    $1,054,520
    $1,002,240
    $2,056,760
    -
    $2,636,300
    $2,505,600
    $5,141,900

    Comparable in this City

    • Value Estimation
      $21,880,000
      201,408 SF

      2400 Patterson St

      MEDICAL BUILDING • 201,408 SF
      2400 Patterson St, Nashville, TN 37203-1562
      View Details
    • Value Estimation
      $12,595,000
      50,952 SF

      2000 Murphy Ave

      MEDICAL BUILDING • 50,952 SF
      2000 Murphy Ave, Nashville, TN 37203-2010
      View Details
    • Value Estimation
      $1,485,000
      6,000 SF

      526 8th S Ave

      MEDICAL BUILDING • 6,000 SF
      526 8th S Ave, Nashville, TN 37203-4139
      View Details
    • Value Estimation
      $4,655,000
      10,860 SF

      331 Arena Ave

      MEDICAL BUILDING • 10,860 SF
      331 Arena Ave, Nashville, TN 37203
      View Details
    • Value Estimation
      $1,350,000
      1,584 SF

      113 23rd N Ave

      MEDICAL BUILDING • 1,584 SF
      113 23rd N Ave, Nashville, TN 37203-1701
      View Details
    • Value Estimation
      $2,440,000
      18,812 SF

      2222 State St

      MEDICAL BUILDING • 18,812 SF
      2222 State St, Nashville, TN 37203-1845
      View Details

    Similar Nearby for Sale

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      Nashville Medical Office Building For Sale

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      Opportunity to Own a Commercial Office / Studio on West End at I-440

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    • $5,750,000
      12,400 SF

      Nashville Office Building For Sale

      Office building with 12,400 square feet of space available.
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      West End Avenue Office Building

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    Similar Nearby for Lease

    • $38 SF/Yr
      14,745 SF

      Nashville Medical Office Space For Lease

      Modern medical suites, various sizes available.
      2400 Patterson St, 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.
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      View Details
    • $34 SF/Yr
      33,364 SF

      West End Ave Office Space

      Nashville Office Building, Flexible Suites
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      View Details
    • $13 SF/Yr
      7,680 SF

      Nashville Office Space at Music Circle

      Flexible Workspace Solutions in Nashville
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    • $32 SF/Yr
      55,000 SF

      Church Street Office Building

      Nashville Midtown Office Space: 55,000 SF
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      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
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    201 23rd N Ave
    Nashville, TN 37203-1501
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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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