Renovated Commercial Building Near
722 Park Ave Lebanon, TN 37087
722 Park Ave, Lebanon, TN, 37087
$650,000
For Sale
$650,000
Renovated 2,000 SF commercial building suitable for various business uses.
Property Size1,989 SF
Price / SF$326.80
Days on Market403
Property Features for 722 Park Ave
General Information
- Standard status
- Active
- Size
- 1,989 SF
Building Details
- Year Built
- 1959
Listing Agency
RE/MAX CHOICE PROPERTIES
(615) 444-3752
Listed by
JOSEPH GOODMAN CRS,ABR,GRI,SRES,SME
Source
Corcoran
Added: Jun 11, 2025 Checked: Mar 16 at 9:09 am
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 RE/MAX CHOICE PROPERTIES
Investment Insights
Based on property information with market context.
Located less than a mile from Interstate I-40 and 30 miles from Nashville, the property at 722 Park Avenue in Lebanon, Tennessee, is a single-level, fully renovated commercial building. Zoned Commercial Neighborhood (CN), the building spans approximately 2,000 square feet and features 4 bedrooms and 2 bathrooms with modern finishes. The layout is suited for office, medical, professional service, or live/work arrangements. The property is move-in ready. The surrounding area is a commercial corridor anchored by national retailers, including Walmart Supercenter, Lowe’s Home Improvement, Walgreens, Tractor Supply Co., Kroger, Big Lots, AutoZone, Harbor Freight Tools, and Dollar General. Local businesses such as Snow White Drive-In and Painturo’s Pizza, along with shops and dining in Lebanon’s historic Town Square, are also nearby. TDOT reports daily traffic counts of 3,490 cars per day, with 20,815 at the Raceway. The property offers visibility, accessibility, and versatility for business uses and rental income.
Key Highlights
- Prime Location: Less than a mile from I‑40 in rapidly growing Lebanon, TN, offering easy access and high visibility.
- Fully Renovated: Move‑in ready, single‑level 2,000 sq ft building with modern finishes.
- Versatile Layout: Adaptable design with 4 bedrooms and 2 bathrooms, ideal for various uses.
Local Financial Insights For Retail
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 | $67.5k | $33.96 |
| − Vacancy | −$2.6k | −$1.29 |
| EGI | $65.0k | $32.67 |
| − OpEx | −$19.5k | −$9.80 |
| NOI | $45.5k | $22.87 |
1,989 SF · lease $33.96/SF/yr · vacancy 3.80% · expense 30.00%
Alternative Uses
Best Use
Retail
$649.8K
$568.6K – $758.1K
NOI $45,486 @ 7.0% cap · market cap 7.00%
Second Best
Office B
$475.4K
$416.0K – $554.6K
NOI $33,278 @ 7.0% cap · market cap 5.12%
Theoretical Best
Warehouse
$2.61M
$2.28M – $3.04M
NOI $182,575 @ 7.0% cap · market cap 28.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Renovated 2,000 SF commercial building suitable for various business uses.
Where is this office units located?
The property is located at 722 Park Ave Lebanon, TN.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Prime Location: Less than a mile from I‑40 in rapidly growing Lebanon, TN, offering easy access and high visibility.; Fully Renovated: Move‑in ready, single‑level 2,000 sq ft building with modern finishes.; Versatile Layout: Adaptable design with 4 bedrooms and 2 bathrooms, ideal for various uses.
