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Property profile & analytics
OFF-MARKET
Office buildings
510 Heritage Dr Madison, TN 37115-2661
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US80-3389368
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1973
Total area
3,200 SF
Lot
17.46 ac (760,558 SF)
Zoning code
R10
APN
042-11-0-086-00
UPID
US80-3389368
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
-
LKJB Quality Assurance Business Management Consultant
-
Low cost construction Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Hickory Chase Owner LLC · 2 yrs held
Hickory Chase Owner LLC
since 2023
Last sale
$49.6M
6 recorded transactions
Zoning & alternative use
R10 · Madison, TN
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$332,081
Tax year 2023
Assessed value
$10,205,320
Assessed 2023
Previous assessed
$10,145,000
+0.6% YoY
Effective rate
3.25%
On assessed value
Assessed land
$1,011,200
Assessed improvement
$9,194,120
Land market value
$2,528,000
Improvement market value
$22,985,300
Total market value
$25,513,300
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1973
Heating
CENTRAL
Cooling
CENTRAL
Buildings
18
Stories
2
Total area
3,200 SF
Lot
17.46 ac (760,558 SF)
Zoning code
R10
APN
042-11-0-086-00
UPID
US80-3389368
Jurisdiction
DAVIDSON
Zoning & alternative use
R10 · Madison, TNZoning R10 · permitted uses
R10 · Madison, TN
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1973
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
18
Lot
17.46 ac
Current owner
From public records · entity-resolved
Hickory Chase Owner LLC
Entity
Mailing address
400 BOUIEVARD OF THE AMERICAS #405, LAKEWOOD, NJ 08701
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 1, 2023
$49,557,500
Hickory Chase Owner LLC
Nashville Portfolio Madison Square
Special Warranty Deed
$34,690,000 · Capital One Bank NA
Sep 16, 2015
$14,700,000
Nashville Portfolio Madison Square
Mission Nashville LLC
Special Warranty Deed
$8,910,000 · Capital One Bank NA
Feb 28, 2006
$2,647,500
Mission Nashville 23 LLC
Mission Nashville LLC
Grant Deed
—
Feb 6, 2006
$18,900,000
Mission Nashville LLC
Heritage House Partners LLC
Grant Deed
—
Mar 30, 2001
$13,325,000
Heritage House Partners LLC
Heritage House Partners
Grant Deed
related
—
Apr 28, 1988
$10,250,000
Greenbrier Developers INC
Unknown
Grant Deed
—
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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