Historic Downtown Mixed-Use
New
For Sale
Contact for pricing
220 Public Square, Lafayette, TN 37083
Commercial zoning and a flexible floor plan support office, retail, and other business uses.
Property Size9,000 SF
Price / SF$141.76
Days on Market7
Property Features for 220 Public Square
General Information
Standard status
Active
Size
9,000 SF
Total Parking Spaces
5
Property subtype
Retail, Office, Mixed Use
Zoning
Commercial
Lease Type
Gross
Additional Details
Asking Price
$499,000
Building Details
Year Built
1908
Units
1
Tenancy
Single
Building Size
9,000 SF
Listing Agency:
Benchmark Realty, LLC
(615) 288-8292
Listed By:
Lori Mofield · License #TN 354294
Source:
Crexi
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 11 at 7:54AM
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 Benchmark Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1908, this 3,520-square-foot mixed-use commercial building occupies 220 Public Square in Lafayette. The property includes a flexible interior arrangement suited to professional offices, retail, medical or wellness practices, financial services, boutiques, restaurants, and other commercial concepts. Its original construction date gives the building historic character, while the range of stated use possibilities supports both owner-user and investor considerations.
The property is positioned directly on Public Square in downtown Lafayette, near restaurants, retail businesses, financial institutions, and government offices. The surrounding district serves as the commercial and civic center of Macon County, with pedestrian access and visibility from the square. Commercial zoning further supports the property's broad commercial positioning.
The property is positioned directly on Public Square in downtown Lafayette, near restaurants, retail businesses, financial institutions, and government offices. The surrounding district serves as the commercial and civic center of Macon County, with pedestrian access and visibility from the square. Commercial zoning further supports the property's broad commercial positioning.
Key Highlights
- 3,520‑square‑foot mixed‑use commercial building
- Built in 1908 with historic character
- Directly positioned on Public Square in downtown Lafayette
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
$41,026
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
8.22%
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%
$820,520
$820.5K
Cap Rate 7%
$586,086
$586.1K
Cap Rate 9%
$455,844
$455.8K
Market Conditions
NOI Build-Up for 3,520 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
$63.4K $18.00/SF
− Vacancy
−$4.8K −$1.35/SF
EGI
$58.6K $16.65/SF
− OpEx
−$17.6K −$5.00/SF
NOI
$41.0K $11.66/SF
Area
Macon County, TN
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$820,520
Cap Rate 7%
$586,086
Cap Rate 9%
$455,844
Alternative Uses
Best Use
Office B
$841.3K
$736.2K – $981.6K
NOI $58,893 @ 7.0% cap · market cap 11.80%
Second Best
Retail
$586.1K
$512.8K – $683.8K
NOI $41,026 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$1.03M
$902.9K – $1.20M
NOI $72,230 @ 7.0% cap · market cap 14.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
Explore this area
Business Placement
Demographics for 37083, TN
15,786
Population
6,958
Households
2.3
Avg Household Size
39
Median Age
14%
College-Educated
85%
High-School Grad
147.6 sq mi
ZIP Area
107
Density / Sq Mi
$60,215
Median Household Income
$35,419
Median Earnings
$821
Median Rent
$231,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial zoning and a flexible floor plan support office, retail, and other business uses.
Where is this mixed-use property located?
The property is located at 220 Public Square Lafayette, TN.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 3,520‑square‑foot mixed‑use commercial building; Built in 1908 with historic character; Directly positioned on Public Square in downtown Lafayette
