Add Listing
    For Sale
    • 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

    Nashville Rd Franklin, KY 42134

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Pad-ready commercial land with utilities near major retailers.

    Type:Land
    Added:
    May 23, 2023
    Days on Market:
    1062
    Last Refresh:
    Mar 17 at 1:24 pm

    Property Features for Nashville Rd

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    James Cook

    Listing agent James Cook License #KY

    Listing office Berkshire Hathaway HomeServices Parks & Weisberg, Realtors Louisville

    Listing date May 23, 2023

    Source Crexi

    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 Berkshire Hathaway HomeServices Parks & Weisberg, Realtors Louisville

    Overview

    Commercial Land Near Retail Hub

    This multi-use development property is zoned for commercial and multi-family use. The pad-ready site includes all utilities: gas, electric, water, sewer, and high-speed internet. It is located 5 miles from I-65 in Franklin, Kentucky, fronting 31 W and adjacent to a Walmart Supercenter. Lowe’s is located across the street.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Franklin
    County
    Simpson
    State
    Kentucky
    Longitude
    -86.572083
    Latitude
    36.700173

    Nearby Similar for Sale

    • $690,000

      Historic Franklin Building with Restaurant

      Three-story, 12,000 sq ft building with restaurant/bar.
      205 W Cedar Street, Franklin, KY 42134
      View Details
    • $599,000

      Medical Office Near Hospital

      Well-maintained medical office building near the hospital in Franklin, KY.
      201 Pleasant Valley Road, Franklin, KY 42134
      View Details
    • $374,900

      Commercial Land in Franklin, KY

      Commercial property with development potential in Franklin, Kentucky.
      832 N Main Street, Franklin, KY 42134
      View Details
    • $350,000

      Development Ready Land in Franklin

      2.13 acre R3 zoned land with approved development plans.
      421 Fairview Avenue, Franklin, KY 42134
      View Details
    • $430,000

      Prime Commercial Lot For Sale

      1.13 acre commercial lot in Franklin, KY for sale.
      2020 Nashville Road, Franklin, KY 42134
      View Details
    • $750,000

      Commercial Property Near Medical Facilities

      Commercial property with 12 rooms and full bathrooms near hospital.
      1117 Brookhaven Road, Franklin, KY 42134
      View Details
    • $274,999
      1,413 SF

      Updated Home on Six Acres

      Updated 3-bedroom home on 6 acres within city limits.
      210 Macedonia Road, Franklin, KY 42134
      View Details
    • $750,000

      Commercial Property Near Medical Facilities

      Commercial brick property with 12 rooms and full bathrooms.
      1119 Brookhaven Road, Franklin, KY 42134
      View Details
    • $1,900,000

      Downtown Franklin Mixed-Use Opportunity

      28,000 sq ft mixed-use property in historic downtown Franklin.
      208 N Main Street, Franklin, KY 42134-1839
      View Details
    • $270,000
      840 SF

      Residential Farm with Barndominium

      6-acre farm with new barndominium near Franklin, Kentucky.
      11875 Franklin Road, Franklin, KY 42134
      View Details
    • $475,000

      Franklin Commercial Space on 31W

      Commercial space on 31W with high visibility and traffic.
      828 N Main Street, Franklin, KY 42134
      View Details
    • $419,900

      Franklin, KY Multi-Family Property

      Multi-family property for sale in Franklin, Kentucky.
      305 McGoodwin Avenue, Franklin, KY 42134
      View Details

    FAQs

    What type of property is this?
    Commercial land - Pad-ready commercial land with utilities near major retailers.
    Where is this commercial land located?
    The property is located at Nashville Rd Franklin, KY.
    What are key features of this property?
    This property features: Zoned for both Commercial and Multi‑Family Development; Pad Ready with All Utilities Included (Gas, Electric, Water, Sewer, High‑Speed Internet); Excellent Location: Fronts 31 W and Adjacent to Walmart Supercenter
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    James Cook
    Real Estate License ID: KY
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!