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

    311 Plus Park Blvd Nashville, TN 37217-1025

    • Office buildings
    • 35,996 SF
    • 4.00 lot acres
    OFF-MARKET
    Last Sale
    Jun 09, 2021
    $4,050,000
    Value Estimations
    $3,460,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0249370
    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

    • Texas RioGrande Legal Aid / Law Firm
    • Consulado de El Salvador / Government Office
    • Soccer Shots Nashville / Sports School
    • Allegheny Industrial Associates / Industrial Manufacturer / Production Facility

    Property Details for 311 Plus Park Blvd

    Year built
    1973
    Lot size
    4.00 lot acres
    Property size
    35,996 SF
    Zone code
    MULTI-ZONE
    Property type
    Office buildings
    APN
    106-00-0-122-00
    APU
    10600012200

    Description

    This exceptional 1,680-square-foot traditional office space presents a unique opportunity for businesses seeking a modern, efficient workspace in the heart of Nashville. The property boasts a completely renovated interior, offering an open shell space ready for immediate occupancy or custom build-out to perfectly suit your company's specific needs. Features include 9-foot finished ceilings, brand new flooring, and a highly efficient central heating and air conditioning system. The open floor plan layout provides maximum flexibility and encourages collaboration. The building itself is exceptionally well-maintained, featuring professionally managed common areas, ensuring a professional and comfortable environment for your employees and clients. Its excellent location provides easy access to major freeways, simplifying commutes and logistics. This single-tenant occupancy offers privacy and control, making it an ideal solution for businesses seeking a prestigious and functional office space in a thriving urban center. Don't miss this chance to secure a prime location in Nashville's dynamic business district. This move-in ready space is perfect for a variety of businesses seeking a modern and efficient workspace.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,890,000
      ML approach
      $2,845,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.7259
    Latitude
    36.1303
    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
    $46,487
    $487,880
    $940,720
    $1,428,600
    -
    $1,219,700
    $2,351,800
    $3,571,500

    Comparable in this City

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    • Value Estimation
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      635 Spence Ln

      OFFICE BUILDING • 3,146 SF
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    • Value Estimation
      $685,000
      4,140 SF

      1038 Murfreesboro Pike

      OFFICE BUILDING • 4,140 SF
      1038 Murfreesboro Pike, Nashville, TN 37217-1504
      View Details
    • Value Estimation
      $2,975,000
      18,042 SF

      285 Plus Park Blvd

      OFFICE BUILDING • 18,042 SF
      285 Plus Park Blvd, Nashville, TN 37217-1003
      View Details
    • Value Estimation
      $6,200,000
      82,314 SF

      1161 Murfreesboro Pike

      OFFICE BUILDING • 82,314 SF
      1161 Murfreesboro Pike, Nashville, TN 37217-2222
      View Details
    • Value Estimation
      $30,000,000
      28,030 SF

      750 Envious Ln

      OFFICE BUILDING • 28,030 SF
      750 Envious Ln, Nashville, TN 37217-1342
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      180 SF

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      Centrally located creative complex with studios for artists and makers.
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    • Contact for pricing
      180 SF

      Creative Studios for Artists/Makers

      Centrally located creative complex with studios for artists and makers.
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    Similar Nearby for Lease

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    • $20 SF/Yr
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      Office space with on-site fitness and ample parking.
      1281 Murfreesboro Pike, Nashville, TN 37217
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    • $17 SF/Yr
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      Office Space with Highway Access

      Office space for rent with convenient highway access.
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    • $24 SF/Yr
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      Office Space with Amenities

      Office space featuring conference center, restaurant, exercise facilities.
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      View Details
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    Nashville, TN 37217-1025
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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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