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    233 Kirby Dr Portland, TN 37148

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    233 Kirby Dr Portland, TN 37148

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    • Office Units
    • 43,000 SF
    Off-Market
    Property ID
    US80-2680203
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Units

    Property Details for 233 Kirby Dr

    Year built
    2024
    Property size
    43,000 SF
    Property type
    Office Units
    Property subtype
    Warehouses

    Description

    43,000SF under construction with expected completion date in Jan/Feb 2025. The building can be expanded up to 70,000SF with room for outside storage or trailer parking. 3000SF of office space currently planned , with 8 Docks, 1 Drive-in door and three phase power.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Portland
    County
    Sumner
    State
    Tennessee
    Longitude
    -86.520436
    Latitude
    36.599118

    Comparable in this City

    • Contact for pricing
      338,000 SF

      338,000 SF Facility on 26.32 Acres

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    • $1,400,000
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      Income-Producing Medical Investment Opportunity

      Fully stabilized medical investment property in a rapidly growing Tennessee community.
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      Mixed-Use Investment Opportunity

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    • $4,023,900

      Industrial Acres For Sale

      47.34 acres of industrial land available for development.
      210 Kirby Dr, Portland, TN 37148
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    • $1,495,000

      Farmland Near Nashville

      Approximately 100 acres of farmland suitable for various uses.
      Payne Road Ext, Portland, TN 37148
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    • $350,000

      Commercial Land with Utilities

      Commercial land with all utilities available and approved septic field.
      133 W Roberts Rd, Portland, TN 37148
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    Similar Nearby for Sale

    • Contact for pricing
      338,000 SF

      338,000 SF Facility on 26.32 Acres

      338,000 SF facility on 26.32 acres in Portland, TN.
      3150 Barry Dr, Portland, TN 37148
      View Details
    • $1,400,000
      5,100 SF

      Income-Producing Medical Investment Opportunity

      Fully stabilized medical investment property in a rapidly growing Tennessee community.
      421 N Broadway, Portland, TN 37148
      View Details
    • $960,000
      10,400 SF

      Mixed-Use Investment Opportunity

      Two parcels with retail, restaurant, and storage income potential.
      457 N Broadway, Portland, TN 37148
      View Details
    • $4,023,900

      Industrial Acres For Sale

      47.34 acres of industrial land available for development.
      210 Kirby Dr, Portland, TN 37148
      View Details
    • $1,495,000

      Farmland Near Nashville

      Approximately 100 acres of farmland suitable for various uses.
      Payne Road Ext, Portland, TN 37148
      View Details
    • $350,000

      Commercial Land with Utilities

      Commercial land with all utilities available and approved septic field.
      133 W Roberts Rd, Portland, TN 37148
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Warehouse Space Available For Lease

      Two warehouse configurations available for lease.
      1850 Vaughn Pkwy, Portland, TN 37148
      View Details
    • $6 SF/Yr
      54,000 SF

      Industrial Warehouse Space Available

      54,000 SF industrial warehouse for lease in Portland, TN.
      120 Davis St, Portland, TN 37148
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    • Contact for pricing

      Industrial Facility in Portland, Tennessee

      73,360 SF industrial facility on 7.5 acres near I-65.
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    • $6 SF/Yr
      54,000 SF

      Industrial Warehouse Space Available

      54,000 SF warehouse with dock and ground doors.
      126 Davis St, Portland, TN 37148
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    • Contact for pricing
      203,548 SF

      Industrial Warehouse Space in Portland

      203,548 SF warehouse space available for lease.
      1211 Vaughn Pkwy, Portland, TN 37148
      View Details
    • Contact for pricing
      10,420 SF

      Retail Space in Portland Village

      Retail spaces available in a busy shopping center.
      112 W Knight St, Portland, TN 37148
      View Details
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    233 Kirby Dr
    Portland, TN 37148
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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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