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

    215 Reidhurst Ave Nashville, TN 37203

    • High-rise multifamily apartments
    • 83,224 SF
    • 0.28 lot acres
    OFF-MARKET
    Last Sale
    Oct 20, 2022
    $21,500,000
    Value Estimations
    $20,830,000
    Show details
    Cap Rate Potential
    4.4%
    High-rise multifamily apartments
    Location Intelligence
    Property ID
    US80-0283249
    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

    • High-rise multifamily apartments

    Property Details for 215 Reidhurst Ave

    Year built
    2013
    Lot size
    0.28 lot acres
    Property size
    83,224 SF
    Zone code
    MUG-A
    Property type
    High-rise multifamily apartments
    APN
    092-15-0-057-00
    APU
    9215005700

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $19,855,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $14,460,000
      6.5%
      $13,345,000
      7%
      $12,395,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $20,470,000
      Market price range: $3.81M - $33.4M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $20,470,000
      Current use
      MEDICAL BUILDING
      $29,045,000
      Change: +42% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.8089
    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
    $0.00
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $13,450,000
      75,613 SF

      1209 Pne St

      HIGH-RISE APARTMENTS • 75,613 SF
      1209 Pne St, Nashville, TN 37203-4009
      View Details
    • Value Estimation
      $36,375,000
      161,136 SF

      1700 State St

      HIGH-RISE APARTMENTS • 161,136 SF
      1700 State St, Nashville, TN 37203-2984
      View Details
    • Value Estimation by Request
      141,820 SF

      2200 State St

      HIGH-RISE APARTMENTS • 141,820 SF
      2200 State St, Nashville, TN 37203-2383
      View Details
    • Value Estimation
      $23,140,000
      524,261 SF

      1010 Church St

      HIGH-RISE APARTMENTS • 524,261 SF
      1010 Church St, Nashville, TN 37203-7090
      View Details
    • Value Estimation by Request
      367,966 SF

      805 Lea Ave

      HIGH-RISE APARTMENTS • 367,966 SF
      805 Lea Ave, Nashville, TN 37203-4383
      View Details
    • Value Estimation
      $9,940,000
      102,484 SF

      300 Bar B Que Aly

      HIGH-RISE APARTMENTS • 102,484 SF
      300 Bar B Que Aly, Nashville, TN 37203-3221
      View Details

    Similar Nearby for Sale

    • $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
    • $1,199,000

      Nashville Penthouse with Sunset Views

      Upscale penthouse with two en suite bedrooms and stunning views.
      3000 Poston Ave, Nashville, TN 37203
      View Details
    • $3,375,000
      2,213 SF

      Nashville High-Rise Condominium Presale

      Groundbreaking 60-story high-rise condominium presale in Nashville.
      1010 Church St, Nashville, TN 37203
      View Details
    • $475,000
      1,160 SF

      Chic City Flat in Midtown

      Modern 2-bedroom condo with pool, gardens, and convenient location.
      205 31St Ave N, Nashville, TN 37203
      View Details
    • $599,900
      1,108 SF

      Updated Residence in The Gulch

      Courtyard-facing residence with fresh updates and unmatched amenities.
      600 12Th Ave S, Nashville, TN 37203
      View Details
    • $344,900
      820 SF

      Midtown Condo with Courtyard View

      Move-in ready, one-bedroom condo in Midtown with parking and amenities.
      1803 Broadway, Nashville, TN 37203
      View Details

    Similar Nearby for Lease

    • $1,995 /Mo
      788 SF

      Southgate Condo with Courtyard View

      Spacious 1 bed, 1 bath condo near Nashville hotspots.
      542 Southgate Ave, Nashville, TN 37203
      View Details
    • $1,600 /Mo
      852 SF

      Historic Bennie Dillon Loft

      Spacious corner loft in downtown Nashville with city skyline views.
      700 Church Street Aly, Nashville, TN 37203
      View Details
    • $10,920 /Mo
      1,749 SF

      Furnished Apartment in Nashville

      Furnished apartment available for rent in Nashville.
      635 7Th Ave S, Nashville, TN 37203
      View Details
    • Contact for pricing
      28,294 SF

      Mixed-Use Development in Nashville, TN

      Office, retail, apartments, and park space in Nashville.
      500 11Th Ave N, Nashville, TN 37203
      View Details
    • $3,900 /Mo
      850 SF

      Furnished Nashville Triplex Apartment

      Furnished triplex apartment available for short-term rental in Nashville.
      1823 Pearl St, Nashville, TN 37203
      View Details
    • $10,920 /Mo
      1,248 SF

      Furnished Rental in Nashville

      Furnished rental available for various lease lengths in Nashville.
      635 7Th Ave S, Nashville, TN 37203
      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.
    215 Reidhurst Ave
    Nashville, TN 37203
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.