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

    First S Street Milan, TN 38358

    View on Map
    Claim this Listing
    Pending
    $99,900

    LAND - Milan, TN

    Lot size:
    2.20 Acres
    Added:
    Apr 17, 2026
    Days on Market:
    16
    Last Refresh:
    May 2 at 10:06 pm

    Property Features for First S Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Pending
    APN
    143 046.00
    Lot size
    2.20 Acres

    Taxes and HOA fees

    Tax Annual Amount
    465

    Utilities

    Utilities
    Cable Available
    Water source
    Public

    We can help!

    Listing Contact
    Scott Beasley
    Scott Beasley

    Listing agent Scott Beasley License #343923

    Listing office Hickman Realty Group, Inc.-Mil 5120 Telecom Drive Suite K, Jackson, TN

    Listing date Apr 17, 2026

    MLS# 2601737 Listing URL

    Copyright © 2026 Central West Tennessee Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Commercial Land in Milan, TN

    This approximately 2.2-acre tract of commercial land is located in Milan, Tennessee. The property is commercially zoned and accessible via easement to Highway 45, offering exposure to approximately 20,000 vehicles per day. It is suitable for a variety of uses, including retail, office, service-based businesses, or development. The location benefits from strong traffic counts and convenient access within a growing local market. Utilities are available nearby; however, verification is the responsibility of the buyer.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Milan
    County
    Gibson
    State
    Tennessee
    Longitude
    -88.747881
    Latitude
    35.883037

    Nearby Similar for Sale

    • $650,000
      6,480 SF

      Renovated Commercial Space in Milan

      6,400+ sq ft renovated building suitable for retail or fitness.
      1077 S Main Street, Milan, TN 38358
      View Details
    • $299,900
      5,784 SF

      Commercial Building in Milan, TN

      5,784 SF commercial building on 0.96 acres for sale.
      1039 W Van Hook Street, Milan, TN 38358
      View Details
    • $54,900
      1,320 SF

      Milan Commercial Building Redevelopment Potential

      Downtown Milan commercial building with excellent visibility and redevelopment potential.
      1108 S Main Street, Milan, TN 38358
      View Details
    • $239,900
      5,800 SF

      Trucking Terminal and Warehouse Opportunity

      Prime Milan, Tennessee trucking terminal and warehouse for sale.
      5009 W Van Hook Street, Milan, TN 38358
      View Details
    • $199,000

      Prime Development Land Near Highway

      3.4 acre wooded lot with high visibility and utilities.
      Jones Boulevard, Milan, TN 38358
      View Details
    • $475,000
      4,176 SF

      Turnkey Multifamily Investment Opportunity

      Five-unit multifamily property in Milan, Tennessee, near schools and shopping.
      1137 Argus Street, Milan, TN 38358
      View Details
    • $179,900
      1,143 SF

      Milan Commercial Building For Sale

      Stand-alone building in high-traffic area, suitable for various businesses.
      1053 N Main Street, Milan, TN 38358
      View Details
    • $429,000

      Prime West Tennessee Acreage

      29.76 acres in Milan, TN with pasture and hardwoods.
      Chapel Hill Road, Milan, TN 38358
      View Details
    • $650,000
      5,000 SF

      Modern Auto Shop with Bay Doors

      5,000 sq ft shop with 8 bay doors.
      3029 & 3025 Highland Street, Milan, TN 38358
      View Details
    • $275,000
      2,048 SF

      New Construction Duplex in Milan

      New duplex with 3 beds, 2 baths, and fenced yards.
      3078 Anderson Street, Milan, TN 38358
      View Details
    • $2,250,000

      Prime Commercial Land in Milan

      7+/- acres of high-visibility land perfect for development.
      S First and Graball Street, Milan, TN 38358
      View Details
    • $59,900

      Land For Sale in Milan

      6.24 acre tract of land in Gibson County, Tennessee.
      Gold Medal Road, Milan, TN 38358
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.2-acre commercial land with high visibility and access.
    Where is this commercial land located?
    The property is located at First S Street Milan, TN.
    What is the asking price?
    The asking price for this property is $99,900.
    What are key features of this property?
    This property features: Prime commercial location in Milan, TN.; Commercial zoning suitable for various business types.; High traffic exposure: approximately 20,000 vehicles per day via Highway 45 easement.
    (731) 571-4300
    We can help!
    Listing Contact
    Scott Beasley
    Scott Beasley
    Real Estate License ID: 343923
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry

    First S Street, Milan, TN 38358

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!