Corner Convenience Store
New
For Sale
$500,000
1416 Franklin St, Clarksville, TN 37040
Commercial kitchen, retail area, road frontage, and on-site parking support ongoing store operations.
Property Size2,146 SF
Lot Size0.46 Acres
Price / SF$232.99
Days on Market4
Property Features for 1416 Franklin St
General Information
Standard status
Active
Size
2,146 SF
Lot size
0.46 Acres
Property subtype
Commercial
Additional Details
Corner Location
Yes
Building Details
Year Built
1981
Buildings
1
Listing Agency:
LEGION REALTY
(931) 368-4001
Listed By:
NAOMY STANSBERRY
Source:
Corcoran
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 9 at 3:12PM
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 LEGION REALTY
Investment Insights
Based on property information with market context.
This 2,146-square-foot commercial building occupies a 0.46-acre corner lot at 1416 Franklin St in Clarksville, TN. Built in 1981, the property is currently configured as a convenience store with a retail floor plan and commercial kitchen. Road frontage, straightforward access, and on-site parking support customer-oriented commercial use.
The real estate offering includes the building and land. The operating business, equipment, and inventory are available separately, allowing those components to be considered independently from the property. The site was previously licensed for lottery sales; any future licensing would remain subject to applicable approvals and regulations. The existing layout may also accommodate another retail or commercial concept, subject to required approvals.
The real estate offering includes the building and land. The operating business, equipment, and inventory are available separately, allowing those components to be considered independently from the property. The site was previously licensed for lottery sales; any future licensing would remain subject to applicable approvals and regulations. The existing layout may also accommodate another retail or commercial concept, subject to required approvals.
Key Highlights
- 2,146‑square‑foot commercial building on a 0.46‑acre corner lot
- Currently configured as a convenience store with a commercial kitchen
- Road frontage and easy access at 1416 Franklin St
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,702
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$474,040
$474.0K
Cap Rate 7%
$338,600
$338.6K
Cap Rate 9%
$263,356
$263.4K
Market Conditions
NOI Build-Up for 2,146 SF
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.
Gross rent
$33.5K $15.60/SF
− Vacancy
−$1.9K −$0.87/SF
EGI
$31.6K $14.73/SF
− OpEx
−$7.9K −$3.68/SF
NOI
$23.7K $11.04/SF
Area
Clarksville, TN
Vacancy
5.60%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$474,040
Cap Rate 7%
$338,600
Cap Rate 9%
$263,356
Alternative Uses
Best Use
Specialty Retail
$338.6K
$296.3K – $395.0K
NOI $23,702 @ 7.0% cap · market cap 4.74%
Second Best
Retail
$291.7K
$255.3K – $340.3K
NOI $20,420 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$360.2K
$315.2K – $420.3K
NOI $25,216 @ 7.0% cap · market cap 5.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 37040, TN
60,382
Population
24,628
Households
2.5
Avg Household Size
31
Median Age
30%
College-Educated
94%
High-School Grad
92.8 sq mi
ZIP Area
651
Density / Sq Mi
$65,331
Median Household Income
$40,621
Median Earnings
$1,177
Median Rent
$242,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Commercial kitchen, retail area, road frontage, and on-site parking support ongoing store operations.
Where is this grocery and convenience store located?
The property is located at 1416 Franklin St Clarksville, TN.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 2,146‑square‑foot commercial building on a 0.46‑acre corner lot; Currently configured as a convenience store with a commercial kitchen; Road frontage and easy access at 1416 Franklin St
