Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Commercial Land For Sale Title is generated by Realmo AI

    2504 Memorial Blvd, Springfield, TN 37172

    View on Map
    Claim this Listing
    For Sale
    $2,795,000

    4.31 acres of commercial land with road frontage.

    Type:Commercial
    Lot size:
    4.31 Acres
    Added:
    Dec 10, 2025
    Days on Market:
    176
    Last Refresh:
    Apr 5 at 8:23 pm

    Property Features for 2504 Memorial Blvd

    General Information

    Standard status
    Active
    Lot size
    4.31 Acres
    Property subtype
    Commercial

    We can help!

    Listing Contact
    STEVEN R JUSTICE

    Listing agent STEVEN R JUSTICE

    Listing office CENTURY 21 LANDMARK REALTY

    Listing date Dec 10, 2025

    Source Corcoran

    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 CENTURY 21 LANDMARK REALTY

    HighLights

    • Great commercial location
    • Fronts 3 roads
    • Approximately 1180 ft of road frontage
    • 4.31 acres
    • Near Kroger
    • Near Reiselman GMC

    Overview

    This commercial property offers a prime location with frontage on three roads, totaling approximately 1180 feet. The site encompasses 4.31 acres and is situated in proximity to Kroger and Reiselman GMC.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Robertson
    State
    Tennessee
    Longitude
    -86.8684
    Latitude
    36.49

    Nearby Similar for Sale

    • $925,000
      3,000 SF

      Springfield Commercial Building For Sale

      Commercial building in Springfield, Tennessee with showroom, office, and storage.
      2104 Ruth St, Springfield, TN 37172
      View Details
    • $2,400,000
      3,323 SF

      New Whataburger Ground Lease Opportunity

      New 3,305 SF Whataburger on 1.32 acres, 15-year NNN lease.
      35 Mooreland Drive, Springfield, TN 37172
      View Details
    • Contact for pricing
      3,179 SF

      Arby's NNN Investment Property

      NNN leased Arby’s in Springfield, Tennessee with 11 years remaining.
      1303 Memorial Blvd, Springfield, TN 37172
      View Details
    • $499,900
      5,000 SF

      Commercial Building on Large Land

      Commercial building with expansion potential near Nashville.
      6160 Underwood Road, Springfield, TN 37172
      View Details
    • $550,000

      Corner Lot Near Historic Downtown

      Commercial land near downtown with multi-use zoning.
      1205 S Main St, Springfield, TN 37172
      View Details
    • $550,000

      Corner Lot Near Historic Downtown

      Commercial land near downtown with multi-use zoning.
      1205 S Main St, Springfield, TN 37172
      View Details
    • $550,000

      Corner Lot Near Historic Downtown

      Commercial land near downtown with multi-use zoning.
      1205 South Main Street, Springfield, TN 37172
      View Details
    • $499,900
      5,000 SF

      Commercial Land with Insulated Building

      Commercial land with insulated building near Nashville.
      6160 Underwood Rd, Springfield, TN 37172
      View Details
    • $2,295,000
      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
    • $799,000

      Industrial Land for Large-Scale Project

      Large industrial/commercial site suitable for development or business park.
      1 Highway 161, Springfield, TN 37172
      View Details
    • $2,000,000
      1,291 SF

      13.3 Acres Commercial Land Springfield

      13.3 acres of C-1 zoned commercial land.
      2719 Tom Austin Hwy, Springfield, TN 37172
      View Details
    • $499,900
      5,000 SF

      Commercial

      6160 Underwood Rd, Springfield, TN 37172
      View Details

    FAQs

    What type of property is this?
    Commercial land - 4.31 acres of commercial land with road frontage.
    Where is this commercial land located?
    The property is located at 2504 Memorial Blvd Springfield, TN.
    What is the asking price?
    The asking price for this property is $2,795,000.
    What are key features of this property?
    This property features: Great commercial location; Fronts 3 roads; Approximately 1180 ft of road frontage
    (615) 746-5102
    We can help!
    Listing Contact
    STEVEN R JUSTICE
    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
    2504 Memorial Blvd, Springfield, TN 37172
    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!