518 Main StSpringfield, TN 37172

  • Retail properties
  • 1,960 SF
For Sale
$325,000 View listing

Property Details for 518 Main St

Year built
1930
Lot size
0.04 AC
Property size (Sq ft)
1,960 SF
Property type
Retail properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
518 Main St, Springfield, Tennessee

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

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
0
-
$16,200
$22,640
$38,840
-
$40,500
$56,600
$97,100

FAQs

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