Commercial Land with Existing
New
For Sale
$289,900
628 N Cumberland St, Lebanon, TN 37087
Existing three-bedroom structure offers potential office use near downtown Lebanon and Cumberland University.
Days on Market2
Property Features for 628 N Cumberland St
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Building Size
1,144 SF
Year Built
1953
Listing Agency:
PARKS
(615) 896-1829
Listed By:
Tim Dutton
(615) 896-1829
Source:
Spotlightproperties
Added: Jul 30
Changed: Jul 31
Last Checked: Jul 31 at 8:16AM
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 PARKS
Investment Insights
Based on property information with market context.
This commercial land parcel measures just under a quarter acre and includes an existing three-bedroom, one-and-a-half-bathroom home built in 1953. The structure could be used as an office, providing an existing improvement on the site while retaining the property’s commercial land classification.
Located at 628 N Cumberland St in Lebanon, the property is 0.6 miles from Lebanon Square, 1.2 miles from Cumberland University, and less than 1 mile from multiple new construction neighborhoods.
Located at 628 N Cumberland St in Lebanon, the property is 0.6 miles from Lebanon Square, 1.2 miles from Cumberland University, and less than 1 mile from multiple new construction neighborhoods.
Key Highlights
- Commercial land parcel measuring just under a quarter acre
- Existing 3 bed, 1.5 bathroom home built in 1953
- Existing structure could be used as an office
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.2k | $26.40 |
| − Vacancy | −$4.7k | −$4.09 |
| EGI | $25.5k | $22.31 |
| − OpEx | −$6.4k | −$5.58 |
| NOI | $19.1k | $16.73 |
1,144 SF · lease $26.40/SF/yr · vacancy 15.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$273.4K
$239.3K – $319.0K
NOI $19,140 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.50M
$1.31M – $1.75M
NOI $105,010 @ 7.0% cap · market cap 36.22%
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 37087, TN
51,658
Population
21,800
Households
2.4
Avg Household Size
39
Median Age
29%
College-Educated
92%
High-School Grad
164.9 sq mi
ZIP Area
313
Density / Sq Mi
$80,978
Median Household Income
$43,253
Median Earnings
$1,134
Median Rent
$359,900
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Existing three-bedroom structure offers potential office use near downtown Lebanon and Cumberland University.
Where is this commercial land located?
The property is located at 628 N Cumberland St Lebanon, TN.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Commercial land parcel measuring just under a quarter acre; Existing 3 bed, 1.5 bathroom home built in 1953; Existing structure could be used as an office
