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

    240 Mayfield Dr Smyrna, TN 37167-3036

    • Office buildings
    • 15,008 SF
    • 1.45 lot acres
    OFF-MARKET
    Last Sale
    Oct 18, 2021
    $1,400,000
    Value Estimations
    $1,485,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0779546
    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

    • The Insurance Place, Inc. / Insurance Agency
    • Erchomai Counseling and Coaching / Counselor / Service Establishment
    • Karen T. Gilbert, MSSW / Medical Clinic
    • Center for marriage & family health LLC / Crisis Center / Medical Clinic
    • Niya African Hair Braiding / Hair Salon

    Property Details for 240 Mayfield Dr

    Year built
    1986
    Construction
    FRAME
    Lot size
    1.45 lot acres
    Property size
    15,008 SF
    Property type
    Office buildings
    APN
    027P-D-002.00-000
    APU
    027PD00200000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,515,000
      ML approach
      $1,335,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,763,000
      Market price range: $970k - $2.62M

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

    Location Insight

    • Map
    • Local Demand
    City
    Smyrna
    County
    Rutherford
    State
    Tennessee
    Longitude
    -86.509
    Latitude
    35.9771
    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
    $19,139
    $238,040
    $558,800
    $796,840
    -
    $595,100
    $1,397,000
    $1,992,100

    Comparable in this City

    • Value Estimation by Request
      868 SF

      934 Almaville Rd

      OFFICE BUILDING • 868 SF
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      View Details
    • Value Estimation by Request
      1,008 SF

      513 Enon Spgs Rd Ef

      OFFICE BUILDING • 1,008 SF
      513 Enon Spgs Rd Ef, Smyrna, TN 37167-4442
      View Details
    • Value Estimation
      $800,000
      1,500 SF

      613 Potomac Pl Ste, Unit 203

      OFFICE BUILDING • 1,500 SF
      613 Potomac Pl Ste, Smyrna, TN 37167-5654
      View Details
    • Value Estimation
      $860,000
      2,291 SF

      697 President Pl Ste, Unit 300

      OFFICE BUILDING • 2,291 SF
      697 President Pl Ste, Smyrna, TN 37167-5673
      View Details
    • Value Estimation by Request
      1,266 SF

      117 Lakeside Dr, Unit A-D

      OFFICE BUILDING • 1,266 SF
      117 Lakeside Dr, Smyrna, TN 37167-2167
      View Details
    • Value Estimation
      $565,000
      3,151 SF

      693 President Pl Ste, Unit 103

      OFFICE BUILDING • 3,151 SF
      693 President Pl Ste, Smyrna, TN 37167-8601
      View Details

    Similar Nearby for Sale

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      Adaptable 1,450 sqft commercial house on 18,000 sqft lot.
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      Smyrna Office Building: Value-Add Opportunity

      13,456 SF Vacant Office Building in Smyrna, TN
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    • $1,600,000
      3.97 Acres

      Smyrna Land: Prime Commercial Potential

      3.97 Acres, Residential Zoning, High Growth Area
      374 Rock Springs Rd, Smyrna, TN 37167
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    • $5,000,000

      Smyrna Land for Estate Lots

      Land in Smyrna near I-24, suitable for estate lots.
      400 Megan Dr, Smyrna, TN 37167
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    • $5,500,000

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      Commercial land for development in an active retail corridor.
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      Prime 2.24-acre commercial lot, I-24 access.
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    Similar Nearby for Lease

    • Contact for pricing
      13,130 SF

      Rock Springs Retail Center Space Available

      Smyrna, TN retail/office space for lease.
      2160 Rock Springs Rd, Smyrna, TN 37167
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    • $20 SF/Yr
      2,742 SF

      Smyrna Medical Office Space Available

      Medical office space for lease in Smyrna, Tennessee.
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      6,564 SF

      Smyrna Retail Space Available

      Retail space available for lease in Smyrna, Tennessee.
      819 Industrial Blvd, Smyrna, TN 37167
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      371,090 SF

      Creekside Logistics: Smyrna, TN

      Class A Warehouse Space Available Now
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    • $6,667 /Mo

      Smyrna, TN Outparcel For Lease

      Outparcel for ground lease in a Publix-anchored shopping center.
      591 Almaville Rd, Smyrna, TN 37167
      View Details
    • Contact for pricing
      25,600 SF

      Smyrna Warehouse Space Available

      25,600 SF warehouse space for lease in Smyrna, Tennessee.
      615 Enon Springs Rd E, Smyrna, TN 37167
      View Details
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    240 Mayfield Dr
    Smyrna, TN 37167-3036
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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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