Property profile

1303 Memorial Blvd Springfield, TN 37172

OFF-MARKET
Drive through restaurants
Property ID
US80-3498226
3,179 SF 0.67 ac lot Built 1987
Entity Owned 4-yr Hold Free & Clear
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Property summary

AI-generated overview

The property is a fee simple, single-tenant quick-service restaurant building in Springfield, Tennessee, previously operated as an Arby’s. It contains 3,179 square feet of space and has been structured as an absolute NNN lease with no landlord responsibilities, indicating a net-leased configuration. The tenant lease was extended with 11 years remaining at the time of the description, and the lease included additional extension options, with scheduled annual rental increases of 1.25% during the remaining term and at the start of each option period.

Property profile

Verified
Property type Drive through restaurants
Use group DRIVE-THRU RESTAURANT, FAST FOOD
Year built 1987
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 3,179 SF
Lot 0.67 ac (29,185 SF)
APN 074080O D 05300
UPID US80-3498226

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant Take-out & Catering

Location

1303 Memorial Blvd Springfield, TN 37172-3252
Springfield metro Census 80302 NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$2.69M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.18M

Owner & transaction history

since 2022
Last sale
$2.8M
5 recorded transactions
2022
Price N/A
2022
$2.8M
2012
Price N/A
2012
Price N/A
2005
$2.8M

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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