Franklin Commercial Building with
For Sale
$995,000
1191 W Main St, Franklin, TN 37064
Commercial building with garage near downtown Franklin amenities.
Property Size2,277 SF
Price / SF$436.98
Days on Market227
Property Features for 1191 W Main St
General Information
Standard status
Active
Size
2,277 SF
Building Details
Year Built
1954
Listing Agency:
Compass
Listed By:
Andrew Terrell · License #314637
(615) 497-6488
Source:
Shearonsellsteam
Added: Mar 5
Changed: Oct 3
Last Checked: Oct 16 at 2:16PM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,096
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$761,920
$761.9K
Cap Rate 7%
$544,229
$544.2K
Cap Rate 9%
$423,289
$423.3K
Market Conditions
NOI Build-Up for 2,277 SF
Gross rent
$60.1K $26.40/SF
− Vacancy
−$9.3K −$4.09/SF
EGI
$50.8K $22.31/SF
− OpEx
−$12.7K −$5.58/SF
NOI
$38.1K $16.73/SF
Area
Williamson County, TN
Vacancy
15.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$761,920
Cap Rate 7%
$544,229
Cap Rate 9%
$423,289
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 authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
Explore this area
Business Placement
Demographics for 37064, TN
62,422
Population
25,302
Households
2.5
Avg Household Size
41
Median Age
59%
College-Educated
94%
High-School Grad
184.0 sq mi
ZIP Area
339
Density / Sq Mi
$121,492
Median Household Income
$56,690
Median Earnings
$1,810
Median Rent
$664,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
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.
