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

    950-960 Colonnade Dr Smyrna, TN 37167

    • Hotels
    • 21,041 SF
    • 3.01 lot acres
    OFF-MARKET
    Last Sale
    Nov 30, 2020
    $850,000
    Value Estimations
    $1,070,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-2141755
    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

    • Hotels

    Property Details for 950-960 Colonnade Dr

    Year built
    2018
    Construction
    FRAME
    Lot size
    3.01 lot acres
    Property size
    21,041 SF
    Property type
    Hotels
    APN
    029-019.07-000
    APU
    2901907000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,070,000
      ML approach
      $1,940,000

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $1,095,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Smyrna
    County
    Rutherford
    State
    Tennessee
    Longitude
    -86.577
    Latitude
    35.9747
    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
    $145,074
    $404,400
    $5,635,600
    $6,040,000
    -
    $1,011,000
    $14,089,000
    $15,100,000

    Comparable in this City

    • Value Estimation
      $1,505,000
      49,292 SF

      945 Colonade Dr

      HOTEL • 49,292 SF
      945 Colonade Dr, Smyrna, TN 37167-6863
      View Details
    • Value Estimation
      $740,000
      10,431 SF

      810 Expo Dr

      HOTEL • 10,431 SF
      810 Expo Dr, Smyrna, TN 37167-5699
      View Details
    • Value Estimation
      $410,000
      14,594 SF

      3001 Highwood Blvd

      HOTEL • 14,594 SF
      3001 Highwood Blvd, Smyrna, TN 37167-9400
      View Details
    • Value Estimation
      $650,000
      13,244 SF

      742 President Pl

      HOTEL • 13,244 SF
      742 President Pl, Smyrna, TN 37167-5651
      View Details
    • Value Estimation
      $905,000
      13,345 SF

      990 Colonade Dr

      HOTEL • 13,345 SF
      990 Colonade Dr, Smyrna, TN 37167-6861
      View Details
    • Value Estimation
      $890,000
      15,815 SF

      2573 Highwood Blvd

      HOTEL • 15,815 SF
      2573 Highwood Blvd, Smyrna, TN 37167-9303
      View Details

    Similar Nearby for Sale

    • $1,625,000
      2.24 Acres

      Smyrna Commercial Land Investment

      Prime 2.24-acre commercial lot, I-24 access.
      360 Sam Ridley Pkwy, Smyrna, TN 37167
      View Details
    • $1,050,000
      2.58 Acres

      Smyrna Commercial Land - Prime Location

      2.58 Acres, C-2 Zoning, Pad Ready
      0 Sgt Asbury Hawn Way & Nissan Dr, Smyrna, TN 37167
      View Details
    • $2,349,000
      4,631 SF

      Smyrna, TN NNN Investment Opportunity

      NNN leased Pinnacle Financial Partners with long term.
      69 S Lowry St, Smyrna, TN 37167
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    • $1,600,000
      3.97 Acres

      Smyrna Land: Prime Commercial Potential

      3.97 Acres, Residential Zoning, High Growth Area
      374 Rock Springs Rd, Smyrna, TN 37167
      View Details
    • $5,000,000

      Smyrna Land for Estate Lots

      Land in Smyrna near I-24, suitable for estate lots.
      400 Megan Dr, Smyrna, TN 37167
      View Details
    • $524,900
      1,450 SF

      Versatile Commercial House in Smyrna

      Adaptable 1,450 sqft commercial house on 18,000 sqft lot.
      103 Morgan Ave, Smyrna, TN 37167
      View Details

    Similar Nearby for Lease

    • $6 SF/Yr
      240,000 SF

      Smyrna Warehouse Near I-24

      240,000 SF warehouse in Smyrna, less than 1 mile from I-24.
      2000 Midway Ln, Smyrna, TN 37167
      View Details
    • Contact for pricing
      1,050 SF

      Retail Space in Smyrna, TN

      Retail space available in a Publix-anchored shopping center.
      1640 Lee Victory Pkwy, Smyrna, TN 37167
      View Details
    • Contact for pricing
      1,400 SF

      Retail Space in Smyrna, TN

      Retail space for lease in a Publix-anchored shopping center.
      1610 Lee Victory Pkwy, 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
    • 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
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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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