Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    622 Iris Dr Nashville, TN 37204-3191

    • Office buildings
    • 2,165 SF
    • 0.25 lot acres
    OFF-MARKET
    Last Sale
    Oct 07, 2024
    $440,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0730792
    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

    • Cherry Land Surveying Inc / Land Surveyor

    Property Details for 622 Iris Dr

    Year built
    1942
    Construction
    FRAME
    Lot size
    0.25 lot acres
    Property size
    2,165 SF
    Zone code
    4ZZ
    Property type
    Office buildings
    APN
    118-07-0-124-00
    APU
    11807012400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Nashville
    County
    Davidson
    State
    Tennessee
    Longitude
    -86.7688
    Latitude
    36.1162
    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
    $7,985
    $196,040
    $77,240
    $273,280
    -
    $490,100
    $193,100
    $683,200

    Comparable in this City

    • Value Estimation
      $14,105,000
      101,069 SF

      3011 Armory Dr

      OFFICE BUILDING • 101,069 SF
      3011 Armory Dr, Nashville, TN 37204-3722
      View Details
    • Value Estimation
      $1,945,000
      15,534 SF

      4030 Armory Oaks Dr

      OFFICE BUILDING • 15,534 SF
      4030 Armory Oaks Dr, Nashville, TN 37204-4527
      View Details
    • Value Estimation by Request
      1,110 SF

      404 Iris Dr

      OFFICE BUILDING • 1,110 SF
      404 Iris Dr, Nashville, TN 37204-3108
      View Details
    • Value Estimation
      $4,475,000
      18,912 SF

      3710 Franklin Pike

      OFFICE BUILDING • 18,912 SF
      3710 Franklin Pike, Nashville, TN 37204-3506
      View Details
    • Value Estimation
      $1,400,000
      10,076 SF

      701 Bradford Ave

      OFFICE BUILDING • 10,076 SF
      701 Bradford Ave, Nashville, TN 37204-2209
      View Details
    • Value Estimation
      $910,000
      3,660 SF

      2819 Bransford Ave

      OFFICE BUILDING • 3,660 SF
      2819 Bransford Ave, Nashville, TN 37204-3101
      View Details

    Similar Nearby for Sale

    • $2,015,000
      4,387 SF

      4,387 SF Office Building For Sale

      4,387 SF Office Building For Sale
      2814 Azalea Pl, Nashville, TN 37204
      View Details
    • $3,050,000
      9,100 SF

      Office Building on Large Lot

      9,100 SF office building on 0.52 acres.
      746 Benton Ave, Nashville, TN 37204
      View Details
    • $2,500,000
      4,743 SF

      Historic Building in Vibrant Neighborhood

      Historic building in Nashville's vibrant Bransford District.
      2804 Azalea Pl, 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
    • $4,890,000
      8,493 SF

      Berry Hill Stand Alone Office

      Two-story office building in Berry Hill, Nashville for sale.
      2699 Fessey Ct, Nashville, TN 37204
      View Details
    • Contact for pricing
      60,205 SF

      60,205 SF Nashville Office Building

      60,205 SF office building on 4.08 acres, 15 minutes from Downtown.
      3038 Sidco Dr, Nashville, TN 37204
      View Details

    Similar Nearby for Lease

    • 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

      Convenient Nashville Office Space

      First-floor office space with easy access to major interstates.
      Nashville, TN 37204
      View Details
    • 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

      Berry Hill Office Space Available

      Office space in Berry Hill, Nashville, near restaurants and retailers.
      503 Heather Pl, 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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    622 Iris Dr
    Nashville, TN 37204-3191
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.