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    Retail-Office Building with Parking Title is generated by Realmo AI

    103 Garland Street, Greenfield, TN 38230

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    For Sale
    $69,000

    COMMERCIAL - GREENFIELD, TN

    Property size:
    1,125 SF
    Lot size:
    0.08 Acres
    Price / SF:
    $61/SF
    Added:
    Mar 10, 2025
    Days on Market:
    453
    Last Refresh:
    Jun 5 at 4:06 pm

    Property Features for 103 Garland Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    APN
    027.00
    Size
    1,125 SF
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Description
    .08 acre lot at 103 Garland Street, DB 446, page 112,
    Tax Annual Amount
    287

    Building Details

    Year built
    1960
    Floors in Building
    1

    We can help!

    Listing Contact
    Lisa Long

    Listing agent Lisa Long

    Listing office Tennessee Real Estate Company 324 Tyson Ave Suite A, Paris, TN

    Listing date Mar 10, 2025

    MLS# 133804

    Copyright © 2026 Tennessee Valley Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Charming commercial building built in 1960 in Greenfield, TN
    • Nearly 1,200 SF interior space with flexible layout for retail, office, or service use
    • New roof plus new 200‑amp electrical service
    • Central heat/air and a kitchen/laundry area
    • Bathroom and recent addition included
    • Currently rented for $750/month under a long‑term lease; parking in front and back

    Overview

    This charming commercial building in Greenfield, TN provides approximately 1,125 square feet of interior space with a flexible layout intended to accommodate a variety of retail, office, or service-oriented uses. The building includes central heat/air, a kitchen/laundry area, and a bathroom. Recent updates noted for the property include a new roof, a new 200 amp electrical service, and a recent addition, all supporting a more efficient baseline for day-to-day operations.

    The property is situated at 103 Garland Street and features curb appeal with parking available in both the front and rear. The offering is structured as for sale.

    At the time of listing, the building is currently rented for $750 per month under a long-term lease with the tenants described as “great.” For prospective tenants, the existing utility and interior components (including HVAC, kitchen/laundry, and restroom facilities) may reduce early buildout considerations. For buyers, the current occupancy provides an income stream tied to the existing lease arrangement, with the overall space configuration remaining adaptable for future business plans.
    Property Profile Location Intelligence

    Current Use by Public Records

    Hair Shack Hair Salon

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Greenfield Floral Shop — 116 N Front St, Greenfield, TN 38230

    Location Insight

    • Map
    • Local Demand
    City
    Greenfield
    County
    Weakley
    State
    Tennessee
    Longitude
    -88.799968
    Latitude
    36.156264

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    FAQs

    What type of property is this?
    Storefront property - Charming Greenfield building with parking in front and back, offering flexible retail or office space.
    Where is this storefront property located?
    The property is located at 103 Garland Street Greenfield, TN.
    What is the asking price?
    The asking price for this property is $69,000.
    What are key features of this property?
    This property features: Charming commercial building built in 1960 in Greenfield, TN; Nearly 1,200 SF interior space with flexible layout for retail, office, or service use; New roof plus new 200‑amp electrical service
    (731) 363-4181
    We can help!
    Listing Contact
    Lisa Long
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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