518 Main StSpringfield, TN 37172

Property Details for 518 Main St

Year built

1930

Lot size

0.04 AC

Property size (Sq ft)

1,960 SF

Property type

Retail space

APN

074080J C 01300

APU

074080JC01300

Description

This exceptional 1,728 square foot retail property, located at 518 S Main St in the heart of historic downtown Springfield, Tennessee, presents a unique investment opportunity. Situated directly across from the courthouse on the town square, this building boasts high visibility and foot traffic. Currently operating as an antique store, the property retains features from its previous life as a restaurant, offering significant potential for a variety of uses. The existing infrastructure includes commercial-grade sinks, roof vents suitable for a kitchen hood, two bathrooms, and a walk-in cooler – all valuable assets for a food service establishment. The 0.04-acre lot provides ample space for outdoor seating or other business needs. The building's prime location and versatile layout make it an ideal investment for both established businesses and entrepreneurs seeking a high-traffic, high-visibility location in a thriving downtown area. The asking price of $325,000 reflects the property's significant potential and desirable location. This is a rare opportunity to acquire a piece of Springfield's rich history and vibrant commercial landscape. Don't miss out on this chance to own a piece of downtown Springfield.

• CAP approach

  CAP return

  Valuation

  6%

  $497,733

  6.5%

  $459,446

  7%

  $426,628

• Comparable approach

  Method

  Valuation

  Relative Method

  $425,166

  Geo Method

  $425,166

• Alternative Use

  Use

  Valuation

  Residential

  $387,560

  Hospitality

  $355,003

  Educational

  $295,358

  Medical

  $305,516

  Retail

  $459,446

Location Insight

City

Springfield

County

Robertson

State

Tennessee

Latitude

36.5086

Longitude

-86.8848

CBSA code

34980

CBSA name

NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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