Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2416 Memorial Blvd Springfield, TN 37172

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $499,900

    Versatile building suitable for retail, office, or medical use.

    Property size:
    3,354 SF
    Lot size:
    0.63 Acres

    Property Features for 2416 Memorial Blvd

    General Information

    Standard status
    Active
    Size
    3,354 SF
    Lot size
    0.63 Acres

    Building Details

    Year built
    1941

    We can help!

    Listing Contact
    S. L. Searcy
    Source: Exitrealty

    Listing Agency: Searcy Realty & Auction Listing Agent: S. L. Searcy

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

    Learn more

    Overview

    Memorial Blvd Retail/Office Building

    Located on Memorial Blvd, this building offers options for retail, office, medical, and other professional uses. The property features a large paved parking area in the front and rear. Previously used as a financial institution, it includes banking drive-thru features. A diesel back-up generator is included in the sale. The building has easy access to the downtown area, Northcrest Hospital, and the Highland Crest College Campus. A new roof was installed in 2022. The property size is 3354 square feet.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Robertson
    State
    Tennessee
    Longitude
    -86.87009
    Latitude
    36.4908

    Nearby Similar for Sale

    • $2,400,000

      New Whataburger Ground Lease Opportunity

      New 3,305 SF Whataburger on 1.32 acres, 15-year NNN lease.
      35 Mooreland Dr, Springfield, TN 37172
      View Details
    • Contact for pricing

      Hotel Pad at Shops Mooreland

      Hotel pad for sale with up to 107 keys.
      3500 Tom Austin Hwy, Springfield, TN 37172
      View Details
    • $3,200,000
      45,996 SF

      Industrial Warehouse with Showroom/Office Space

      Versatile industrial warehouse with showroom, office space, and loading docks.
      4000 Memorial Blvd, Springfield, TN 37172
      View Details
    • $299,900
      1,845 SF

      Downtown Springfield Commercial Property For Sale

      Commercial property in downtown Springfield, near courthouse square, tenant in place.
      505 Hill St, Springfield, TN 37172
      View Details
    • $1,200,000
      10,000 SF

      Historic Mixed-Use Building in Springfield

      10,000 sq ft mixed-use building with loft and apartment.
      109 7Th Ave E, Springfield, TN 37172
      View Details
    • $2,500,000
      45,996 SF

      Versatile Industrial/Retail Opportunity

      Unique industrial warehouse suitable for retail with showroom and office.
      4000 Memorial Blvd, Springfield, TN 37172
      View Details
    • Contact for pricing
      28,000 SF

      Industrial Property with Crane Access

      28,000 SF industrial building on 3.56 acres.
      3016 Highway 41 S, Springfield, TN 37172
      View Details
    • $575,000
      3,354 SF

      Springfield Office Building - Prime Location

      Versatile Office Space, Excellent Visibility
      2416 Memorial Blvd, Springfield, TN 37172
      View Details
    • $925,000
      3,000 SF

      Springfield Mixed-Use Commercial Building

      Prime Springfield location, versatile space, high potential.
      2104 Ruth St, Springfield, TN 37172
      View Details
    • $303,050
      2.09 Acres

      Prime Springfield Commercial Land

      High-traffic, 2.09-acre commercial lot
      Highway 41, Springfield, TN 37172
      View Details
    • $994,000
      9.94 Acres

      Prime Springfield Commercial Land

      9.94 Acres, High Traffic, Hwy 41 N
      Highway 41, Springfield, TN 37172
      View Details
    • $750,000
      907 SF

      Springfield Commercial Land Opportunity

      High-visibility Hwy 41 lot, home & outbuilding.
      2503 Memorial Blvd, Springfield, TN 37172
      View Details

    FAQs

    What type of property is this?
    Retail property - Versatile building suitable for retail, office, or medical use.
    Where is this retail property located?
    The property is located at 2416 Memorial Blvd Springfield, TN.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: - Prime location on Memorial Blvd suitable for retail, office, medical, or professional uses.; - Large paved parking area in front and rear.; - Banking drive-thru features.
    (615) 384-9095
    Request Owner's contact information
    2416 Memorial Blvd Springfield, TN 37172
    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.
    2416 Memorial Blvd
    Springfield, TN 37172
    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
    2416 Memorial Blvd Springfield, TN 37172
    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

    We can help!
    Listing Contact
    S. L. Searcy
    Real Estate License ID: 234072
    (615) 384-9095 (615) 347-6175
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!