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    Property profile & analytics

    1228 Lakeview Dr Franklin, TN 37067-3073

    • Retail space
    • 2,352 SF
    • 0.53 lot acres
    OFF-MARKET
    Value Estimations
    $340,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1421030
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Aroluxe Media, LLC / Video Production Service

    Property Details for 1228 Lakeview Dr

    Year built
    1980
    Lot size
    0.53 lot acres
    Property size
    2,352 SF
    Property type
    Retail space
    APN
    094079F A 02001
    APU
    094079FA02001

    Description

    This exceptional Franklin, Tennessee commercial property at 1228 Lakeview Drive offers 2,352 square feet of versatile space in a single-tenant building. Situated on a 0.53-acre lot, this two-story structure boasts high visibility next to I-65's exit ramp, ensuring excellent exposure. The property includes up to 33 paved parking spaces on-site, with potential for expansion. Features include a covered front porch, asphalt paving in the rear, and an ADA-compliant ramp for ground-level access. The building offers dual staircases to the upper level and one loading dock with one dock-high door. The property's prior uses include car dealerships, retail, and office/warehouse spaces, demonstrating its adaptability to various business needs. A land lease, renovations, or a complete rebuild are all negotiable options for prospective buyers. This move-in ready property presents a unique opportunity in a prime Franklin location. The building is classified as Office, Retail, and Land, with subtypes including Warehouse, Creative Office, Executive Office, and Medical Office.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $340,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $450,000
      6.5%
      $415,000
      7%
      $385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $204,000
      Market price range: $91.5k - $365k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Williamson
    State
    Tennessee
    Longitude
    -86.8241
    Latitude
    35.9208
    CBSA code
    34980
    CBSA name
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $6,145
    $162,200
    $63,640
    $225,840
    -
    $405,500
    $159,100
    $564,600

    Comparable in this City

    • Value Estimation
      $1,005,000
      36,225 SF

      3301 Aspen Grv Dr

      RETAIL STORES (PERSONAL SERVICES) • 36,225 SF
      3301 Aspen Grv Dr, Franklin, TN 37067-2903
      View Details
    • Value Estimation
      $320,000
      1,280 SF

      3333 Aspen Grv Dr Ste, Unit 130

      RETAIL STORES (PERSONAL SERVICES) • 1,280 SF
      3333 Aspen Grv Dr Ste, Franklin, TN 37067-4874
      View Details
    • Value Estimation
      $355,000
      2,949 SF

      3343 Aspen Grv Dr Ste, Unit 220

      RETAIL STORES (PERSONAL SERVICES) • 2,949 SF
      3343 Aspen Grv Dr Ste, Franklin, TN 37067-2916
      View Details
    • Value Estimation
      $970,000
      2,475 SF

      4149 Mallory Ln

      RETAIL STORES (PERSONAL SERVICES) • 2,475 SF
      4149 Mallory Ln, Franklin, TN 37067-2802
      View Details
    • Value Estimation
      $700,000
      12,273 SF

      1730 Galleria Blvd

      RETAIL STORES (PERSONAL SERVICES) • 12,273 SF
      1730 Galleria Blvd, Franklin, TN 37067
      View Details
    • Value Estimation
      $625,000
      9,968 SF

      244 Cool Spgs Blvd

      RETAIL STORES (PERSONAL SERVICES) • 9,968 SF
      244 Cool Spgs Blvd, Franklin, TN 37067-2677
      View Details

    Similar Nearby for Sale

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      Land For Sale Franklin, TN

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    Similar Nearby for Lease

    • $42 SF/Yr
      1,500 SF

      Retail Space on Carothers Parkway

      Retail space available for lease on Carothers Parkway.
      9050 Carothers Pkwy, Franklin, TN 37067
      View Details
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      Retail Space in Franklin, TN

      Retail space available for lease in Franklin, Tennessee.
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      View Details
    • Contact for pricing
      9,283 SF

      Retail Space in Franklin, TN

      Retail space available for lease in Franklin, Tennessee.
      1761 Galleria Blvd, Franklin, TN 37067
      View Details
    • Contact for pricing
      2,371 SF

      Retail Space in McEwen Northside

      Urban retail space in a thriving Cool Springs community.
      5001 Aspen Grove Dr, Franklin, TN 37067
      View Details
    • Contact for pricing
      2,747 SF

      Retail Space in McEwen Northside

      Urban retail space in a thriving Cool Springs community.
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      View Details
    • Contact for pricing

      Retail Outparcel in Cool Springs

      Located in a super-regional mixed-use trade area near major retailers.
      300 Spring Creek Dr, Franklin, TN 37067
      View Details
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    Franklin, TN 37067-3073
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    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
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