Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    120 Freeman Dr Lewisburg, TN 37091

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $495,000

    Versatile Office Space, 5,274 sq ft, 0.5 acre lot

    Property size:
    5,274 SF

    Property Features for 120 Freeman Dr

    General Information

    Property type
    Office properties & Spaces
    Square Feet
    5,274 SF
    Lot Size
    21,780 SF

    Building Details

    Year Built
    2000

    We can help!

    Listing Contact
    Jimmy D. Dugger

    Listing Agency: Crye-Leike, Inc., REALTORS Listing Agent: Jimmy D. Dugger

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This 5,274 square foot office building in Lewisburg, Tennessee, presents a unique investment opportunity. Situated on a half-acre lot, its previous use as a rehabilitation center offers adaptable floor plans. The building boasts five handicap-accessible bathrooms, seven showers, ten toilets, nine sinks, and three urinals. This layout is easily convertible to various uses, including a women's dormitory, given its existing infrastructure. A significant portion of the building's space is open and adaptable to the buyer's needs. The property also includes dedicated office space, ideal for a business with 15-20 employees, easily configured with modular furniture. Its location minutes from I-65 provides convenient access to both Nashville and Huntsville markets. The seller is open to offering a remodel allowance for qualified buyers with innovative repurposing plans. The building is state-approved for housing up to 24 residents, adding further flexibility. Immediate occupancy is available, with ample parking. This property offers a compelling opportunity for a swift return on investment. Schedule a showing today to secure this versatile commercial space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Magnolia Academy High School StepStone Family & Youth ... Foster Care Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Nail Salon Gym & Fitness Center Pharmacy Skin Care Clinic Department Store Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewisburg
    County
    Marshall County, TN
    State
    Tennessee
    Longitude
    -86.82257
    Latitude
    35.45379

    Nearby Similar for Sale

    • $950,000
      8,400 SF

      Lewisburg Retail Center - High Growth Area

      8,400 SF Retail Space, 2 Leased Units, Expansion Potential
      1175 Ellington Pkwy, Lewisburg, TN 37091
      View Details
    • $399,900
      2,176 SF

      Lewisburg Office Building - Prime Location

      Mixed-use office/retail, high traffic area.
      1085 Ellington Pkwy, Lewisburg, TN 37091
      View Details
    • $479,000
      5.00 Acres

      Lewisburg Industrial Land - 5 Acres

      Prime I-65 Industrial Site, 5 Acres
      1033 Veterans Dr, Lewisburg, TN 37091
      View Details
    • $600,000
      1.03 Acres

      Lewisburg Commercial Land Opportunity

      Prime 1-acre lot, C2 zoning, near new developments.
      1429 New Columbia Hwy, Lewisburg, TN 37091
      View Details
    • $5,874,000
      8,900 SF

      Luxury Farm & Event Venue in TN

      124 Acres, Two Homes, Event Center
      1190 Ellington Pkwy, Lewisburg, TN 37091
      View Details
    • $650,000
      1,800 SF

      Lewisburg Retail Building - Prime Location

      Established Business, 1.8k sqft, 1.26 acres
      1505 Verona Caney Rd, Lewisburg, TN 37091
      View Details
    • $1,200,000
      4.88 Acres

      Prime Lewisburg Business Land

      4.88 Acres, High Visibility, I-65 Access
      900 Ellington Pkwy, Lewisburg, TN 37091
      View Details
    • $899,000
      5.48 Acres

      Lewisburg Commercial Development Tract

      High-traffic 5.48-acre lot, C-2 & Light Industrial zoning.
      Ellington Pkwy, Lewisburg, TN 37091
      View Details
    • $120,000
      8,434 SF

      Lewisburg Mixed-Use Investment Opportunity

      High-potential mixed-use property near the square.
      232 Commerce St, Lewisburg, TN 37091
      View Details
    • $115,000
      615 SF

      Lewisburg Mixed-Use Investment Opportunity

      Restaurant-Approved, Fully Remodeled, High-Traffic Location
      1450 Old Belfast Rd, Lewisburg, TN 37091
      View Details
    • $1,499,999
      4.74 Acres

      Lewisburg Commercial Development Land

      High-traffic location, ready to build.
      1435 New Columbia Hwy, Lewisburg, TN 37091
      View Details

    FAQs

    What type of property is this?
    Office property - Versatile Office Space, 5,274 sq ft, 0.5 acre lot
    Where is this office property located?
    The property is located at 120 Freeman Dr Lewisburg, TN.
    What is the asking price?
    The asking price for this property is $495,000.
    (931) 540-8400
    Request Owner's contact information
    120 Freeman Dr Lewisburg, TN 37091
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    120 Freeman Dr
    Lewisburg, TN 37091
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    120 Freeman Dr Lewisburg, TN 37091
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jimmy D. Dugger
    (931) 540-8400 (615) 210-5027
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!