Franklin Commercial Building with
1191 W Main St Franklin, TN 37064
1191 W Main St, Franklin, TN, 37064
$995,000
For Sale
$995,000
Commercial building with garage near downtown Franklin amenities.
Property Size2,277 SF
Lot Size0.70 Acres
Price / SF$436.98
Days on Market145
Property Features for 1191 W Main St
General Information
- Standard status
- Active
- Size
- 2,277 SF
- Lot size
- 0.70 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1954
Listing Agency
COMPASS
(615) 383-7914
Listed by
ANDREW TERRELL
Source
Corcoran
Added: Feb 25 Checked: Jul 19 at 4:32 am
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
Investment Insights
Based on property information with market context.
This property features a +/- 2,277 square foot building along with a 473 square foot garage. It is zoned Central Commercial, which allows for a wide variety of uses. The building contains 4 offices. The property benefits from a location on West Main Street with significant frontage. It is located approximately 0.5 miles from downtown Franklin and its Main Street. The property is near the Margin District, a mixed-use development under construction near downtown Franklin's Five Points area. The location provides convenient access to restaurants, retailers, and other downtown Franklin amenities.
Key Highlights
- Prime location on W. Main Street with significant frontage.
- Zoned Central Commercial, allowing for diverse business opportunities.
- Close proximity (+/- 0.5 miles) to downtown Franklin and award‑winning Main Street.
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 | $60.1k | $26.40 |
| − Vacancy | −$9.3k | −$4.09 |
| EGI | $50.8k | $22.31 |
| − OpEx | −$12.7k | −$5.58 |
| NOI | $38.1k | $16.73 |
2,277 SF · lease $26.40/SF/yr · vacancy 15.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$544.2K
$476.2K – $634.9K
NOI $38,096 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$667.5K
$584.1K – $778.7K
NOI $46,724 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Glory to Glory Fitness
Training Center
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Commercial building with garage near downtown Franklin amenities.
Where is this office units located?
The property is located at 1191 W Main St Franklin, TN.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Prime location on W. Main Street with significant frontage.; Zoned Central Commercial, allowing for diverse business opportunities.; Close proximity (+/- 0.5 miles) to downtown Franklin and award‑winning Main Street.
