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

    2981 Canada Rd Lakeland, TN 38002

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail or office space for lease in Lakeland, Tennessee.

    Property Features for 2981 Canada Rd

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Brian Califf
    Brian Califf
    Source: Crexi

    Listing Agency: NAI Saig Company Memphis Listing Agent: Brian Califf

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

    Learn more

    Overview

    Retail or Office Space Available

    Suite 102 offers 1,400 square feet of space suitable for retail or office use. The space is located at the corner of Canada Road and Highway 64 in Lakeland, Tennessee. It will be available starting June 1, 2026. The asking rent is $21 per square foot, with NNN expenses of $7.90 per square foot.
    Location Intelligence

    Current Use by Public Records

    Elizabeth Rook Insurance, ... Insurance Agency Tinder Box Lakeland, ... (Bike/Boat/Book/etc) Store Hair by Ashley ... Hair Salon Alma Bella Salon Hair Salon

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Shelby
    State
    Tennessee
    Longitude
    -89.7342214
    Latitude
    35.2070057

    Nearby Similar for Lease

    • Contact for pricing

      New Retail Development For Lease

      New shopping center near Kroger and Arlington High School.
      5291-5287 Airline Rd, Arlington, TN 38002
      View Details
    • Contact for pricing
      2,143 SF

      Retail Space For Lease

      Retail spaces available in Lakeland, TN, near I-40.
      9861 Lk District Dr N, Lakeland, TN
      View Details
    • Contact for pricing

      Retail Center Near Arlington School

      New retail center with excellent visibility and access.
      Airline Rd & Milton Wilson Blvd, Arlington, TN 38002
      View Details
    • Contact for pricing

      Retail Building Near Arlington High

      Multi-tenant retail building near school and future Kroger.
      11830 Milton Wilson Dr, Arlington, TN 38002
      View Details
    • Contact for pricing

      Retail Space in Lakeland Development

      Retail space for lease in new mixed-use development.
      70 & Seed Tick Rd, Lakeland, TN 38002
      View Details
    • Contact for pricing

      Arlington Retail Space For Lease

      Retail building with drive-thru potential in Arlington, Tennessee.
      Retail Milton Wilson Dr, Arlington, TN 38002
      View Details
    • Contact for pricing
      1,573 SF

      Retail Space with Drive-Through

      Retail space with drive-through in Lakeland, Tennessee.
      9833 Highway 70, Lakeland, TN 38002
      View Details
    • Contact for pricing
      2,729 SF

      Retail Space in Lakeland, TN

      Retail space available in a developing mixed-use community.
      4836 Vlg Lot Cv, Lakeland, TN
      View Details
    • Contact for pricing
      2,400 SF

      New Retail Space in Arlington

      New 22,885 SF shopping center with excellent visibility.
      5291 Airline Rd, Arlington, TN 38002
      View Details
    • Contact for pricing
      35,146 SF

      Retail Space Near Interstate 40

      Retail spaces available near I-40 and Canada Rd.
      9845 Lk District Dr, Lakeland, TN
      View Details
    • Contact for pricing
      16,759 SF

      Arlington Retail Space Available

      Retail space available for lease in Arlington, Tennessee.
      5062 Milton Wilson Blvd, Arlington, TN 38002
      View Details
    • Contact for pricing
      17,800 SF

      Retail Space in Proposed Center

      Retail spaces for lease in proposed 34,125 SF shopping center.
      Milton Wilson Rd & Airline Rd, Arlington, TN
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail or office space for lease in Lakeland, Tennessee.
    Where is this retail space located?
    The property is located at 2981 Canada Rd Lakeland, TN.
    What are key features of this property?
    This property features: - Located at the busy corner of Canada Road and Hwy 64 in Lakeland, TN; - 1,400 SF space suitable for Retail or Office use; - Available 6/1/2026
    (901) 526-3100
    Request Owner's contact information
    2981 Canada Rd Lakeland, TN 38002
    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.
    2981 Canada Rd
    Lakeland, TN 38002
    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
    2981 Canada Rd Lakeland, TN 38002
    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
    Brian Califf
    Brian Califf
    Real Estate License ID: 299669
    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!