As the Nashville commercial real estate market becomes more and more appealing to investors, property values in the area are reaching record highs. The latest reappraisals place Davidson County property values 37% higher than what they were in 2013, and for the first time in seven years, assessed values for commercial properties are higher than those for residential properties. This obviously means that property taxes are set to rise significantly in Music City, though so far, taxpayers seem to be handling the news well.
In light of this surge in commercial property taxes, we thought it’d be the perfect time to find out which are currently the top taxpaying properties in Nashville. Mind you, after updated tax bills go out in the fall, these numbers might change significantly. In short, if the value of a property increased less than the median 37%, taxes will go down; if values increased more than 37%, taxes will go up. How do you think the 10 properties below will fare?
Find all the top taxpaying properties on the map below:
1 Gaylord Opryland Resort & Convention Center – $9,630,299 in property taxes in 2016
- Year built: 1983
- Owned by: Ryman Hospitality Properties
- Architect: Earl Swensson Associates
- Rooms: 2,882
- Assessed value: $213,248,438
2 Opry Mills – A Simon Center – $4,068,193 in property taxes in 2016
- Year built: 2000
- Owned by: Simon Property Group
- Architect: Cooper Carry
- Number of stores: 200+
- Retail square footage: 1.2 million
- Assessed value: $90,083,998
3 The Mall at Green Hills – $3,648,155 in property taxes in 2016
- Year built: 1955
- Owned by: The Taubman Co.
- Number of stores: 100
- Retail square footage: 861,000
- Assessed value: $81,031,877
4 TriStar Centennial Medical Center – $3,070,880 in property taxes in 2016
- Year built: 1994
- Owned by: TriStar Health
- Architect: Earl Swensson Associates
- Number of beds: 650
- Assessed value: $68,000,000
5 Element Music Row – $1,985,305 in property taxes in 2016
- Year built: 2016
- Owned by: Childress Klein Properties
- Architect: Rule Joy Trammell + Rubio
- Number of apartment units: 431
- Assessed value: $49,853,122
6 One Hundred Oaks Mall – $1,832,363 in property taxes in 2016
- Year built: 1967 (redeveloped in 2010)
- Owned by: LaSalle Investment Management
- Total square footage: 891,470 (retail and medical office space)
- Major tenant: Vanderbilt University Medical Center (roughly 300,000 square feet)
- Assessed value: $40,574,920
7 333 Commerce St. – $1,795,751 in property taxes in 2016
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333 Commerce Street (Yardi Matrix)
Year built: 1994
- Owned by: MetLife Real Estate Investment
- Architect: Earl Swensson Associates
- Total square footage: 648,047 (office and retail space)
- Assessed value: $37,788,578
8 2525 West End – $1,535,776 in property taxes in 2016
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2525 West End (Yardi Matrix)
Year built: 1987
- Owned by: Lionstone Investments
- Architect: Skidmore, Owings & Merrill
- Total square footage: 365,916 (office and retail space)
- Major tenant: Vanderbilt University
- Assessed value: $34,007,440
9 Nashville City Center – $1,492,739 in property taxes in 2016
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Nashville City Center (Yardi Matrix)
Year built: 1988
- Owned by: The Shidler Group
- Architect: The Stubbins Associates
- Total square footage: 482,407 (office and retail space)
- Assessed value: $31,412,200
10 SunTrust Plaza – $1,330,345 in property taxes in 2016
SunTrust Plaza (via Yardi Matrix)
- Year built: 2007
- Owned by: Eakin Partners
- Architect: Hastings Architecture Associates
- Total square footage: 338,000 (office and retail space)
- Assessed value: $27,994,880
Methodology
- Data sources: PropertyShark, proprietary research (download raw data);
- *Search was based on individual parcels; for multi-parcel properties, the tax values listed are representative of the main parcel;
- 2016 tax values verified against the Davidson County Property Tax Portal.
