Victorian Era Commercial
118 S Greenwood St Lebanon, TN 37087
118 S Greenwood St, Lebanon, TN, 37087
$949,900
For Sale
$949,900
Historic Lebanon property ideal for office, boutique, or mixed-use.
Property Size2,500 SF
Lot Size0.91 Acres
Price / SF$379.96
Days on Market94
Property Features for 118 S Greenwood St
General Information
- Standard status
- Active
- Size
- 2,500 SF
- Lot size
- 0.91 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1904
Listing Agency
UPTOWN TENNESSEE REALTORS, INC.
(615) 515-8696
Listed by
MICAH ZANE MINZAK
Source
Corcoran
Added: Apr 14 Checked: Jul 15 at 9:06 pm
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 UPTOWN TENNESSEE REALTORS, INC.
Investment Insights
Based on property information with market context.
This 2,500 sq ft Victorian-era commercial property, built in 1904, is located two blocks from the historic square in downtown Lebanon. The property is situated on a 0.91-acre lot and features five separate rooms suitable for private offices, meeting spaces, or client areas. It includes a full bath and a half bath. Updates include modern HVAC, plumbing, electrical systems, and a metal roof. Zoned Commercial Office Professional, the property is suitable for a range of business uses and is currently operating as both office space and an Airbnb. The exterior features a wraparound porch and maintained landscaping. Ample parking is available, with additional space for expansion. The property is suitable for business owners or investors looking to establish a presence in Lebanon.
Key Highlights
- Prime location: Just two blocks from the historic square in downtown Lebanon.
- Large 0.91‑acre lot: Offers ample parking and expansion potential.
- Modern updates: Includes new HVAC, plumbing, electrical systems, and metal roof.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.0k | $26.40 |
| − Vacancy | −$10.2k | −$4.09 |
| EGI | $55.8k | $22.31 |
| − OpEx | −$13.9k | −$5.58 |
| NOI | $41.8k | $16.73 |
2,500 SF · lease $26.40/SF/yr · vacancy 15.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$597.5K
$522.9K – $697.1K
NOI $41,828 @ 7.0% cap · market cap 4.40%
Second Best
Mixed Use
$456.4K
$399.4K – $532.5K
NOI $31,950 @ 7.0% cap · market cap 3.36%
Theoretical Best
Warehouse
$3.28M
$2.87M – $3.82M
NOI $229,481 @ 7.0% cap · market cap 24.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
CSR Engineering Inc
Engineer
Lebanon Insurance Agency
Insurance Agency
Realtor James Fuller
Real Estate Agency
Uptown Tennessee Realtors, ...
Real Estate Agency
Easterly Gary
Insurance Agency
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FAQs
What type of property is this?
Office building - Historic Lebanon property ideal for office, boutique, or mixed-use.
Where is this office building located?
The property is located at 118 S Greenwood St Lebanon, TN.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Prime location: Just two blocks from the historic square in downtown Lebanon.; Large 0.91‑acre lot: Offers ample parking and expansion potential.; Modern updates: Includes new HVAC, plumbing, electrical systems, and metal roof.
