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Property profile & analytics
OFF-MARKET
Estimated value
$7,305,000
Medical Office Space
322 22nd N Ave Nashville, TN 37203-1842
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US80-1042947
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1974
Total area
16,074 SF
Lot
0.81 ac (35,284 SF)
Zoning code
MUG-A
APN
092-11-0-275-00
UPID
US80-1042947
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Specialty Surgery Center Medical Clinic Hospital
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.87M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.47M
Blend (final)
Blend
$7.31M
Owner & transaction history
Midtown Medical LLC · 3 yrs held
Midtown Medical LLC
since 2023
Last sale
$8.0M
7 recorded transactions
Zoning & alternative use
MUG-A · Nashville, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$9.7M
+73.7%
Warehouse, storage
$8.6M
+53.1%
Neighborhood: shopping center
$8.5M
+51.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Nashville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Nashville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$7,195,000
ML approach
$6,865,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$5,610,000
Current use
AUTO REPAIR, GARAGE
$9,745,000
Change: +74% · Conversion: Difficult
WAREHOUSE, STORAGE
$8,585,000
Change: +53% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$8,510,000
Change: +52% · Conversion: Difficult
RETAIL STORES
$7,435,000
Change: +33% · Conversion: Difficult
OFFICE BUILDING
$5,365,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$7.31M
Range $6.57M – $8.04M · ±10% · vs last sale $8.00M (Jul 3 2023)
Last sale anchor
$8.00M
Jul 3 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$454 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$80,284
Tax year 2023
Assessed value
$2,467,240
Assessed 2023
Previous assessed
$2,467,240
+0.0% YoY
Effective rate
3.25%
On assessed value
Assessed land
$1,730,400
Assessed improvement
$736,840
Land market value
$4,326,000
Improvement market value
$1,842,100
Total market value
$6,168,100
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1974
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
16,074 SF
Lot
0.81 ac (35,284 SF)
Zoning code
MUG-A
APN
092-11-0-275-00
UPID
US80-1042947
Jurisdiction
DAVIDSON
Zoning & alternative use
MUG-A · Nashville, TN
Zoning MUG-A · permitted uses
MUG-A · Nashville, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Nashville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$5.6M
AUTO REPAIR, GARAGE
Est. value
$9.7M
WAREHOUSE, STORAGE
Est. value
$8.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.5M
RETAIL STORES
Est. value
$7.4M
OFFICE BUILDING
Est. value
$5.4M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1974
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
0.81 ac
Current owner
From public records · entity-resolved
Midtown Medical LLC
Entity
Mailing address
2004 HAYES ST STE #800, NASHVILLE, TN 37203-2659
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 3, 2023
—
Midtown Medical LLC
Murphy Avenue General Partnership
Quit Claim Deed
related
$98,306,400 · Truist Bank
Oct 14, 2021
$8,000,000
Murphy Avenue General Partnership
322 22nd Avenue Associates LLC
Warranty Deed
$8,000,000 · Truist Bank
Oct 14, 2021
—
Murphy Avenue General Partnership
322 22nd Avenue Associates LLC
Quit Claim Deed
related
—
Oct 7, 2021
—
22nd Avenue Associates LLC
Jeffrey B Carter
Quit Claim Deed
related
—
Oct 7, 2021
$6,500,000
322 22nd Avenue Associates LLC
Jeffrey B Carter
Special Warranty Deed
—
Nov 12, 1991
$1,000,000
Jeffrey B Carter
Unknown
Grant Deed
—
—
—
Jeffrey B Carter
—
Deed Of Trust
related
$1,100,000 · Tennessee Bank & Trust Co
—
—
Jeffrey B Carter
—
Deed Of Trust
related
$1,400,000 · Tennessee Bank & Trust Co
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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