515 E Iris Dr
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515 E Iris Dr
2,280 SF Office Building Nashville, TN 37204 $2,250,000 ($987/SF)
Investment Highlights
- Corner Lot
- Extra Parking
- Wired Recording Studio
- Walk to Restaurants/Nearby Businesses
Executive Summary
Unique find with ample parking! Neighboring East Iris Studios, in central Berry Hill near studios, restaurants, and businesses. Loaded recording studio ready to play. Studio was custom built by musicians for professional recording in early 2000's. Property includes 2 offices and kitchen separate from recording. Spaces include control, studio, iso booths, sound lock and more. Subtenant is on 30 day month to month with private entrance and uses approximately 250 SF, can be absorbed into new lease, ownership, or given notice. Property was previously Westlake Audio and The 515 Studio.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $65,673 | $13.13 |
Other Income | - | - |
Vacancy Loss | - | - |
Effective Gross Income | $65,673 | $13.13 |
Taxes | - | - |
Operating Expenses | - | - |
Total Expenses | $3,258 | $0.65 |
Net Operating Income | $62,415 | $12.48 |
Financial Summary (Actual - 2023)
Gross Rental Income | |
---|---|
Annual | $65,673 |
Annual Per SF | $13.13 |
Other Income | |
---|---|
Annual | - |
Annual Per SF | - |
Vacancy Loss | |
---|---|
Annual | - |
Annual Per SF | - |
Effective Gross Income | |
---|---|
Annual | $65,673 |
Annual Per SF | $13.13 |
Taxes | |
---|---|
Annual | - |
Annual Per SF | - |
Operating Expenses | |
---|---|
Annual | - |
Annual Per SF | - |
Total Expenses | |
---|---|
Annual | $3,258 |
Annual Per SF | $0.65 |
Net Operating Income | |
---|---|
Annual | $62,415 |
Annual Per SF | $12.48 |
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Office
Property Subtype
Building Size
2,280 SF
Building Class
C
Year Built/Renovated
1941/2002
Price
$2,250,000
Price Per SF
$987
Tenancy
Single
Building Height
1 Story
Typical Floor Size
2,280 SF
Building FAR
0.23
Lot Size
0.23 AC
Zoning
4ZZ - Berry Hill Zoning allows for Commercial,Residential, and Mixed Use.
Parking
15 Spaces (6.58 Spaces per 1,000 SF Leased)
Amenities
- Kitchen
- Storage Space
- Basement
- Central Heating
- High Ceilings
- Hardwood Floors
- Yard
- Air Conditioning
- Smoke Detector
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PROPERTY TAXES
Parcel Number | 118-07-0-184 | Improvements Assessment | $137,880 (2024) |
Land Assessment | $180,360 (2024) | Total Assessment | $318,240 (2024) |
PROPERTY TAXES
Parcel Number
118-07-0-184
Land Assessment
$180,360 (2024)
Improvements Assessment
$137,880 (2024)
Total Assessment
$318,240 (2024)
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515 E Iris Dr
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