Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historic District Retail Property Title is generated by Realmo AI

    117 5th N Ave, Franklin, TN 37064

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,590,000

    Fully leased retail property in Franklin's Historic District.

    Type:Commercial/Industrial
    Property size:
    3,625 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $714/SF
    Added:
    Mar 11, 2026
    Days on Market:
    68
    Last Refresh:
    Apr 6 at 3:18 am

    Property Features for 117 5th N Ave

    General Information

    Standard status
    Active
    Size
    3,625 SF
    Lot size
    0.09 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1924

    We can help!

    Listing Contact
    Loy Hardcastle

    Listing agent Loy Hardcastle License #268108

    Listing office Parks Compass

    Listing date Mar 11, 2026

    Source Exitrealty

    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 Parks Compass

    HighLights

    • Fully leased with solid tenants providing immediate income.
    • Excellent location in the Historic District of downtown Franklin.
    • Double net leases (taxes and insurance included).
    • Long‑term lease in place until 8/2029 with 4% annual increase.
    • Structural and mechanical items are in top shape.
    • Possible owner financing available.

    Overview

    Located in the Historic District of downtown Franklin, this retail property features structural and mechanical systems in optimal condition. The roof is constructed with a TPO reflective membrane. The property is fully leased with established tenants and includes rear entrances accessible from the alley. The current lease for unit 117-A 5th Ave is set to expire in April 2025, while the lease for unit 117-B 5th Ave extends until August 2029, with a 4% annual increase. The leases are structured as double net leases, incorporating taxes and insurance as additional rent. The property size is 3,625 square feet. Owner financing options may be available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Native Matter Clothing & Fashion Store Hop House Tennessee ... Bar & Pub Mt Xia Inc. ... Business Management Consultant Shannon Hazelton Hair Salon

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Always In Bloom, Inc. — 227 Franklin Rd, Franklin, TN 37064
    • Amelia's Flowers — 230 Franklin Rd, Franklin, TN 37064
    • Kroger Floral — 595 Hillsboro Rd Ste 305, Franklin, TN 37064

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Williamson
    State
    Tennessee
    Longitude
    -86.8722
    Latitude
    35.9245

    Nearby Similar for Sale

    • $950,000
      2,470 SF

      Premier Franklin Office Suites Available

      Two office suites in Franklin, TN, ideal for investors/owner-occupants.
      311 S Royal Oaks Blvd, Franklin, TN 37064
      View Details
    • $16,500,000
      14,190 SF

      Downtown Franklin Commercial Assemblage Opportunity

      Prime 0.71-acre site in Downtown Franklin for mixed-use development.
      206 E Main St, Franklin, TN 37064
      View Details
    • $995,000
      2,277 SF

      Franklin Commercial Building with Garage

      Commercial building with garage near downtown Franklin amenities.
      1191 W Main St, Franklin, TN 37064
      View Details
    • Contact for pricing
      6,059 SF

      Downtown Franklin Former Bank Building

      Former financial services building in desirable downtown Franklin, Tennessee.
      213 5th Ave N, Franklin, TN 37064
      View Details
    • $5,000,000
      6,070 SF

      Historic Building in Franklin, TN

      Iconic commercial building in historic district, multiple uses possible.
      132 3rd Ave S, Franklin, TN 37064
      View Details
    • $2,875,000
      8,638 SF

      Class A Office Condos

      Class A office condos in Franklin, TN for sale.
      329 S Royal Oaks Blvd, Franklin, TN 37064
      View Details
    • $6,749,000
      6,604 SF

      Historic Downtown Franklin Adaptable Property

      Historically significant property suitable for various uses in Downtown Franklin.
      108 Bridge St, Franklin, TN 37064
      View Details
    • $5,490,000
      8,089 SF

      Historic Downtown Franklin Office Building

      Rare, historically significant property in Downtown Franklin's Historic District.
      112 Bridge St, Franklin, TN 37064
      View Details
    • $525,000
      1,120 SF

      Move-in Ready Office Condo

      Two-story office condo in Franklin's Cool Springs area.
      106 Mission Ct, Franklin, TN 37067
      View Details
    • $505,000
      1,120 SF

      Move-in Ready Office Condo

      Two-story office condo in Franklin's Cool Springs area.
      106 Mission Ct, Franklin, TN 37067
      View Details
    • $2,999,000
      9,000 SF

      Fully Leased Retail Property

      Retail property for sale, fully leased.
      426 Century Ct, Franklin, TN 37064
      View Details
    • Contact for pricing
      1,000 SF

      Professional Office Suite in Franklin

      Move-in-ready office space with flexible layout in prime location.
      103 Confederate Dr Unit 2, Franklin, TN 37064
      View Details

    FAQs

    What type of property is this?
    Storefront property - Fully leased retail property in Franklin's Historic District.
    Where is this storefront property located?
    The property is located at 117 5th N Ave Franklin, TN.
    What is the asking price?
    The asking price for this property is $2,590,000.
    What are key features of this property?
    This property features: Fully leased with solid tenants providing immediate income.; Excellent location in the Historic District of downtown Franklin.; Double net leases (taxes and insurance included).
    (615) 790-7400
    We can help!
    Listing Contact
    Loy Hardcastle
    Real Estate License ID: 268108
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    117 5th N Ave, Franklin, TN 37064
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!