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    Historic Downtown Franklin Office Building Title is generated by Realmo AI

    112 Bridge St, Franklin, TN 37064

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    For Sale
    $5,490,000

    Rare, historically significant property in Downtown Franklin's Historic District.

    Type:Commercial
    Property size:
    8,089 SF
    Lot size:
    0.93 Acres
    Price / SF:
    $678/SF
    Added:
    Oct 1, 2025
    Days on Market:
    247
    Last Refresh:
    Apr 5 at 8:19 pm

    Property Features for 112 Bridge St

    General Information

    Standard status
    Active
    Size
    8,089 SF
    Lot size
    0.93 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1941

    We can help!

    Listing Contact
    JAMIE BRANDENBURG
    JAMIE BRANDENBURG

    Listing agent JAMIE BRANDENBURG License #344013

    Listing office COMPASS RE

    Listing date Oct 1, 2025

    Source Corcoran

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

    All listing content including descriptions, pricing, images are the copyrighted material of COMPASS RE

    HighLights

    • Historically significant property in the heart of Downtown Franklin's Historic District.
    • Benefit from 55 marked on‑site parking spaces, a rarity in the downtown core.
    • Fully restored in 2016, offering immediate usability.
    • Flexible layout suitable for various professional uses (financial services, private equity, technology, preservation).
    • Recently renovated third floor with a large conference space.
    • Walkable to Main Street, Public Square, award‑winning dining, shopping, and civic landmarks.

    Overview

    Located in the heart of Downtown Franklin's Historic District, 112 Bridge Street presents a rare opportunity. Constructed in 1941, the property, known as the “Old, Old Jail,” was restored by 2016 and reopened as The LeHew Magid Big House for Historic Preservation. Currently, the building serves as a headquarters and is open for public tours. The property includes 55 marked on-site parking spaces and a renovated third floor with a large conference space. The flexible layout is suited for a financial services firm, private equity group, technology headquarters, or a preservation-focused organization. Situated steps from Main Street and the Public Square, the building is walkable to dining, shopping, and civic landmarks. Zoned First Avenue District and covered by the Historic Preservation Overlay, the property maintains its architectural integrity while allowing for professional uses. The property is positioned for a buyer committed to honoring its historic value. The building may also be acquired as part of a portfolio with adjacent 108 Bridge Street. The property offers 8089 square feet of space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Heritage Foundation of Williamson ... Historical Society LeHew Magid Big ... Heritage Building

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Williamson
    State
    Tennessee
    Longitude
    -86.8682
    Latitude
    35.9278

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    FAQs

    What type of property is this?
    Office building - Rare, historically significant property in Downtown Franklin's Historic District.
    Where is this office building located?
    The property is located at 112 Bridge St Franklin, TN.
    What is the asking price?
    The asking price for this property is $5,490,000.
    What are key features of this property?
    This property features: Historically significant property in the heart of Downtown Franklin's Historic District.; Benefit from 55 marked on‑site parking spaces, a rarity in the downtown core.; Fully restored in 2016, offering immediate usability.
    (615) 475-5616
    We can help!
    Listing Contact
    JAMIE BRANDENBURG
    JAMIE BRANDENBURG
    Real Estate License ID: 344013
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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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