518 Main StSpringfield, TN 37172
- Retail properties
- 1,960 SF
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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