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    2805 Azalea Pl Nashville, TN 37204-3117

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    Property profile & analytics

    2805 Azalea Pl Nashville, TN 37204-3117

    View on Map
    • Medical Office Space
    • 1,933 SF
    • 0.29 lot acres
    Off-Market
    Last Sale Nov 3, 2020
    $850,000
    Property ID
    US80-0140162
    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
    $885,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Berry Hill Chiropractic / Alternative Medicine Practice
    • Jenson Gillette / Alternative Medicine Practice
    • Jenson Elijah Gillette / Alternative Medicine Practice
    • Beth Barnett / Alternative Medicine Practice
    • Dr. Shanda Novak / Alternative Medicine Practice

    Property Details for 2805 Azalea Pl

    Year built
    1945
    Construction
    FRAME
    Lot size
    0.29 lot acres
    Property size
    1,933 SF
    Zone code
    4ZZ
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    118-07-0-129-00
    APU
    11807012900

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,150,000
      ML approach
      $1,110,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $915,000
      Market price range: $366k - $915k

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $675,000
      Current use
      AUTO REPAIR, GARAGE
      $1,170,000
      Change: +74% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $970,000
      Change: +44% Conversion: Easy
      RETAIL STORES
      $895,000
      Change: +33% Conversion: Difficult
      OFFICE BUILDING
      $685,000
      Change: +2% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $560,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.768
    Latitude
    36.1159
    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
    $11,876
    $227,360
    $179,080
    $406,440
    -
    $568,400
    $447,700
    $1,016,100

    Comparable in this City

    • Value Estimation
      $2,890,000
      11,868 SF

      820 Gale Ln

      MEDICAL BUILDING • 11,868 SF
      820 Gale Ln, Nashville, TN 37204-3012
      View Details
    • Value Estimation
      $1,240,000
      4,723 SF

      808 Kirkwood Ave

      MEDICAL BUILDING • 4,723 SF
      808 Kirkwood Ave, Nashville, TN 37204-2602
      View Details
    • Value Estimation
      $1,065,000
      7,096 SF

      4344 Kenilwood Dr

      MEDICAL BUILDING • 7,096 SF
      4344 Kenilwood Dr, Nashville, TN 37204-4401
      View Details
    • Value Estimation
      $745,000
      1,462 SF

      2829 Columbine Pl

      MEDICAL BUILDING • 1,462 SF
      2829 Columbine Pl, Nashville, TN 37204-3103
      View Details
    • Value Estimation
      $4,550,000
      28,516 SF

      2906 Foster Creighton Dr

      MEDICAL BUILDING • 28,516 SF
      2906 Foster Creighton Dr, Nashville, TN 37204-3706
      View Details
    • Value Estimation by Request
      1,672 SF

      2702 12th S Ave

      MEDICAL BUILDING • 1,672 SF
      2702 12th S Ave, Nashville, TN 37204-2506
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,800 SF

      648 W Iris Dr, Nashville, TN 37204

      Office buildings • 2,800 SF
      648 W Iris Dr, Nashville, TN 37204
      View Details
    • $1,499,999
      2,260 SF

      Berry Hill Mixed-Use Opportunity

      Prime location with flexible zoning in Nashville's Berry Hill.
      2809 Azalea Pl, Nashville, TN 37204
      View Details
    • Contact for pricing
      4,300 SF

      Berry Hill Mixed-Use Opportunity

      Two adjacent parcels in Nashville's growing creative district.
      2689 Fessey Ct, Nashville, TN 37204
      View Details
    • $2,400,000
      3,670 SF

      Berry Hill Live-Work Suites

      Live and work in Nashville's thriving mixed-use business district.
      2604 Westwood Dr, Nashville, TN 37204
      View Details
    • $1,975,000
      4,300 SF

      Two Adjacent Parcels Totaling 0.45 AC in the Heart of Berry Hill For Sale

      Two Adjacent Parcels Totaling 0.45 AC in the Heart of Berry Hill For Sale
      2689 Fessey Ct, Nashville, TN 37204
      View Details
    • $1,550,000
      1,050 SF

      1,050 SF Office Building For Sale

      1,050 SF Office Building For Sale
      2825 Azalea Pl, Nashville, TN 37204
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,133 SF

      Updated Office Space Available

      Office space with updated common areas and key card access.
      700 Craighead St, Nashville, TN 37204
      View Details
    • Contact for pricing
      2,440 SF

      Nashville Office Space For Rent

      Office space available for rent in Nashville, Tennessee.
      2301 12Th Ave S, Nashville, TN 37204
      View Details
    • Contact for pricing
      29,250 SF

      Nashville Office Space For Rent

      Office space available for rent in Nashville, Tennessee.
      2212-2214 12Th Ave S, Nashville, TN 37204
      View Details
    • Contact for pricing
      3,800 SF

      Nashville Office Space For Rent

      Office space available for lease in Nashville, Tennessee.
      2912 Sidco Dr, Nashville, TN 37204
      View Details
    • $30 SF/Yr
      1,072 SF

      Office Building in Melrose Area

      Office building in the 8th Avenue South/Melrose area.
      700 Craighead St, Nashville, TN 37204
      View Details
    • Contact for pricing
      2,114 SF

      Office Space Near Geodis Stadium

      Office space with parking near Berry Hill and 100 Oaks.
      478-480 Craighead St, Nashville, TN 37204
      View Details
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    Nashville, TN 37204-3117
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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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