Office

224 3rd Ave N

224 3rd ave n, franklin, TN 37064

Price

Price on request

Market rate estimate — not broker-provided

Cost-of-Business Details

Very Low Confidence

Low

$52.27/SF

Mid

$61.49/SF

High

$70.71/SF

Tier Used

peer_city_transfer

Transferred from peer market raleigh (similarity: 100%) with 6 comparable listings.

Peer market: raleigh (100% similarity)

Tier Resolution Trace

Tier 1insufficient_data

Tier 2insufficient_data

Tier 3insufficient_data

Tier 4successselected

Cost Breakdown

Component	Value	Detail	Source
Base Rent	$61.49/SF	—	peer_city_transfer
Utilities	—	11.2¢/kWh	OpenEI URDB
Property Tax	—	0.0% eff. rate	API Ninjas
Labor Index	—	$1605/wk	BLS QCEW

Source Provenance (1)

Source	Type	Count	Year	Freshness	Peer
Peer City Transfer	economic_similarity	6	—	real-time	raleigh (100%)

Data sources used

peer_city_transfer

Description

For Lease: 3,357 SF Premier Downtown Franklin Office Space

Property description as provided by the listing source. PropZone adds independent market context, valuation estimates, and comparable listings.

Location

224 3rd ave n, franklin, TN 37064

Leaflet © OpenStreetMap contributors

Market Context

As of Q1 2025, the Nashville office market showed average asking rents near $32.39/SF/yr, rents up 2.9% year over year, and cap rates around 8.4%. Source: multiple brokerages Q1 2025 market report.

Projected current pricing

low confidence

Projected asking rent

$44.51–$46.31/SF/yr

Estimated sale value

$262–$354/SF

Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q1 2026 Cushman & Wakefield data (cap rate 8.4%, asking rent trend-adjusted to today).

View the full Nashville Office market report →

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Compare it against other office listings for sale in Franklin, TN to benchmark pricing and space — view the full market.

Office market FAQ

What is the typical cap rate for office in Nashville?: About 8.4% as of Q1 2025, per multiple brokerages.

Unified Estimate

Very Low Confidence

$32.68/SF-$44.22/SF

Mid: $38.45/SF

Rate-first confidence-weighted blend with cost-of-business adjustment.

No local comparable sales were available, so this estimate is transferred from a comparable peer market — treat it as a rough indication only. Transferred from peer market raleigh (similarity: 100%) with 6 comparable listings.