Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Shops Near Governor's Square Title is generated by Realmo AI

    3031 Wilma Rudolph Blvd, Clarksville, TN

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Retail property near a large mall in a growing area.

    Type:RETAIL
    Property size:
    10,031 SF
    Lot size:
    1.15 Acres
    Price / SF:
    $548/SF
    Added:
    Feb 28, 2025
    Days on Market:
    462
    Last Refresh:
    May 20 at 9:36 pm

    Property Features for 3031 Wilma Rudolph Blvd

    General Information

    Standard status
    Active
    Size
    10,031 SF
    Lot size
    1.15 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Ben Sullivan
    Ben Sullivan

    Listing agent Ben Sullivan License #289789

    Listing office Market Street Retail Advisors

    Listing date Feb 28, 2025

    Source Moodyscre

    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 Market Street Retail Advisors

    HighLights

    • Value‑add opportunity with below‑market FedEx lease, offering potential for increased rental income.
    • Strategic location at the entrance to Governor's Square Mall, a regional draw with over 400,000 residents in its trade area.
    • FedEx is a major tenant (24.42% of GLA) with a lease extending to 2/28/28 and a 5‑year option.
    • Located in Clarksville, TN, a rapidly growing city near Nashville and home to Fort Campbell Army Base.
    • Strong tenant mix with Sleep Number and Army Navy paying significantly higher rents ($38.89 and $40.00 per sq ft net, respectively).
    • Governor's Square Mall is anchored by national retailers including HomeGoods, Burlington, Dick’s Sporting Goods, and Best Buy, with a new Dave & Buster's lease signed in 2024.

    Overview

    This retail property, known as Governor’s Square Mall Shops of Wilma Rudolph, is located at the entrance to the 1,100,000 square foot Governor’s Square Mall, which draws from a trade area population of over 400,000 residents. The property is positioned in Clarksville, Tennessee, 48 miles west of Nashville, Tennessee. Clarksville is experiencing rapid growth and is home to Fort Campbell Army Base and the 101st Airborne Division. Other notable employers in the area include Austin Peay University, Hancook Tire, Trane, and Korean manufacturer LG. A new Dave and Busters, announced in February 2024, has signed a lease for 34,556 square feet in the mall. Anchor tenants include HomeGoods, Burlington, Dick’s Sporting Goods, ROSS Dress For Less, Old Navy, Best Buy, AMC Theater, Dillard’s, Belk Outlet and JCPenney. The property presents a value-add opportunity. FedEx occupies 24.42% of the gross leasable area with a lease expiration date of 2/28/28 and a 5-year option term at market rate. FedEx is currently paying $18.00 per square foot net. Sleep Number is currently paying $38.89 per square foot net, and Army Navy is currently paying $40.00 per square foot net. The property size is 10,031 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Army Clarksville Recruiting ... Military Recruiting Office Sleep Number Furniture & Home Goods FedEx Office Print ... Courier Service Forensic Accounting Corp Accounting Firm Rush My Passport Travel Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Clarksville
    County
    Montgomery
    State
    Tennessee
    Longitude
    -87.2897
    Latitude
    36.5921

    Nearby Similar for Sale

    • $2,850,000
      15,000 SF

      Landmark Office Building on Wilma Rudolph

      15,000 SF office building for sale or lease.
      2503 Wilma Rudolph Blvd, Clarksville, TN 37040
      View Details
    • $424,000
      3,542 SF

      Established Karaoke Bar with Amenities

      Popular karaoke bar with pool tables and entertainment spaces.
      2647 Fort Campbell Blvd, Clarksville, TN 37042
      View Details
    • $1,350,000
      13,240 SF

      Retail Building with Storage

      A multi-area retail building offering conditioned space plus dedicated storage for streamlined day-to-day operations.
      1060 S Riverside Dr, Clarksville, TN 37040
      View Details
    • $1,410,000

      7 Brew Coffee Drive-Thru

      Single-tenant NNN investment property in high-traffic Clarksville, Tennessee.
      959 N Riverside Dr, Clarksville, TN 37040
      View Details
    • $1,175,000

      Retail Storefront For Sale

      Prominent retail storefront available for sale at a signalized intersection in Clarksville, Tennessee.
      301 College St, Clarksville, TN 37040
      View Details
    • $329,000
      1,370 SF

      Versatile Commercial Property on Cumberland

      Commercial property with office, retail, and storage potential.
      846 Cumberland Dr, Clarksville, TN 37040
      View Details
    • $899,000

      Clarksville Investment Opportunity

      Profitable investment with minimal management effort in Clarksville, Tennessee.
      1348 Fort Campbell Blvd, Clarksville, TN 37042
      View Details
    • $1,250,000
      10,709 SF

      Clarksville Office Space for Sale

      Finished office space in Clarksville's Central Business District.
      107 N 3rd St, Clarksville, TN 37040
      View Details
    • $615,000
      3,750 SF

      Clarksville Triplex Investment Opportunity

      Triplex in high-demand area with garages and private patios.
      520 Patriot Park Ct, Clarksville, TN 37042
      View Details
    • $2,813,000
      950 SF

      New Dutch Bros Coffee ForSale

      Newly built Dutch Bros in Clarksville, TN for sale.
      2310 Trenton Rd, Clarksville, TN
      View Details
    • $995,000
      3,056 SF

      Office Suites on Memorial Drive

      Three office suites with high visibility and income potential.
      1850 Memorial Dr, Clarksville, TN 37043
      View Details
    • $549,950
      2,604 SF

      Fort Campbell Blvd Investment Opportunity

      Commercial property on Fort Campbell Blvd, ideal for various businesses.
      2030 Fort Campbell Blvd, Clarksville, TN 37042
      View Details

    FAQs

    What type of property is this?
    Strip mall - Retail property near a large mall in a growing area.
    Where is this strip mall located?
    The property is located at 3031 Wilma Rudolph Blvd Clarksville, TN.
    What is the asking price?
    The asking price for this property is $5,500,000.
    What are key features of this property?
    This property features: Value‑add opportunity with below‑market FedEx lease, offering potential for increased rental income.; Strategic location at the entrance to Governor's Square Mall, a regional draw with over 400,000 residents in its trade area.; FedEx is a major tenant (24.42% of GLA) with a lease extending to 2/28/28 and a 5‑year option.
    (615) 309-6100 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Ben Sullivan
    Ben Sullivan
    Real Estate License ID: 289789
    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
    3031 Wilma Rudolph Blvd, Clarksville, TN
    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!