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    Property profile & analytics

    823 Industrial Blvd Smyrna, TN 37167

    • Outlet malls
    • 122,600 SF
    • 16.76 lot acres
    OFF-MARKET
    Value Estimations
    $20,775,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1476010
    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

    • Outlet malls

    Property Details for 823 Industrial Blvd

    Year built
    2008
    Lot size
    16.76 lot acres
    Property size
    122,600 SF
    Property type
    Outlet malls
    Property subtype
    Shopping centers
    APN
    029-017.04-000
    APU
    2901704000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $25,090,000
      Market price range: $13.6M - $28.2M
      AI Estimate
      $14,117,000
      Market price range: $4.24M - $21.7M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $22,630,000
      Current use
      AUTO REPAIR, GARAGE
      $33,085,000
      Change: +46% Conversion: Difficult
      OFFICE BUILDING
      $27,150,000
      Change: +20% Conversion: Easy
      MEDICAL BUILDING
      $25,060,000
      Change: +11% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $20,990,000
      Change: -7% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Smyrna
    County
    Rutherford
    State
    Tennessee
    Longitude
    -86.5683
    Latitude
    35.9802
    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
    $175,289
    $2,521,720
    $4,776,240
    $7,297,960
    -
    $6,304,300
    $11,940,600
    $18,244,900

    Comparable in this City

    • Value Estimation
      $12,335,000
      76,179 SF

      1150 Genie Ln

      WHOLESALE OUTLET, DISCOUNT STORE • 76,179 SF
      1150 Genie Ln, Smyrna, TN 37167-6563
      View Details
    • Value Estimation
      $2,005,000
      9,864 SF

      299 Lowry St

      WHOLESALE OUTLET, DISCOUNT STORE • 9,864 SF
      299 Lowry St, Smyrna, TN 37167-2562
      View Details
    • Value Estimation
      $4,800,000
      87,375 SF

      325 Lowry St, Unit 333

      WHOLESALE OUTLET, DISCOUNT STORE • 87,375 SF
      325 Lowry St, Smyrna, TN 37167-2550
      View Details
    • Value Estimation
      $22,280,000
      151,726 SF

      410 Genie Ln

      WHOLESALE OUTLET, DISCOUNT STORE • 151,726 SF
      410 Genie Ln, Smyrna, TN 37167-5672
      View Details
    • Value Estimation
      $5,200,000
      99,781 SF

      1322 Hazelwood Dr, Unit 1410

      WHOLESALE OUTLET, DISCOUNT STORE • 99,781 SF
      1322 Hazelwood Dr, Smyrna, TN 37167-3922
      View Details
    • Value Estimation
      $25,755,000
      177,274 SF

      803 Industrial Blvd

      WHOLESALE OUTLET, DISCOUNT STORE • 177,274 SF
      803 Industrial Blvd, Smyrna, TN 37167-6865
      View Details

    Similar Nearby for Sale

    • $1,100,000
      3,660 SF

      Downtown Smyrna Leased Commercial Property

      Fully leased commercial property in Downtown Smyrna with established tenants.
      260 S Lowry St, Smyrna, TN 37167
      View Details
    • Contact for pricing
      8,220 SF

      Class A Flex Space Building

      New flex space building with warehouse, showroom, and office space.
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      Freestanding retail building with dock doors and highway visibility.
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    • $439,900
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      Versatile Commercial House in Smyrna

      Adaptable 1,450 sqft commercial house on 18,000 sqft lot.
      103 Morgan Ave, Smyrna, TN 37167
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      Renovated Commercial Building on Nissan

      Recently renovated 2,000 SF building on 1.3 acres.
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      3,909 SF

      1920s Schoolhouse Near Smyrna Depot

      Unique property blending vintage charm with modern functionality near Smyrna.
      300 Maple St, Smyrna, TN 37167
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,604 SF

      Retail Space on Sam Ridley

      Class A shopping center with high traffic and ample parking.
      440 W Sam Ridley Pkwy, Smyrna, TN 37167
      View Details
    • Contact for pricing
      34,854 SF

      Retail Space Near Nissan Plant

      Retail property near Nissan plant in growing Rutherford County.
      551 S Lowry St, Smyrna, TN 37167
      View Details
    • Contact for pricing
      6,564 SF

      Smyrna Retail Space Available

      Retail space available for lease in Smyrna, Tennessee.
      819 Industrial Blvd, Smyrna, TN 37167
      View Details
    • $1,695 /Mo

      Retail Space in Smyrna Square

      Retail space available for rent in Smyrna, Tennessee.
      423 Smyrna Square Dr, Smyrna, TN 37167
      View Details
    • $8,000 /Mo
      3,075 SF

      Restaurant Building with Drive-Thru

      3,075 SF restaurant space with drive-thru in Smyrna, TN.
      450 Enon Springs Rd E, Smyrna, TN 37167
      View Details
    • Contact for pricing
      4,169 SF

      Retail Space in Smyrna, TN

      Retail space available for lease in Smyrna, Tennessee.
      830 Nissan Dr, Smyrna, TN 37167
      View Details
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    Smyrna, TN 37167
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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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