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    Property profile & analytics

    1505 Verona Caney Rd Lewisburg, TN 37091

    • Retail space
    • 2,190 SF
    • 1.26 lot acres
    For Sale
    View listing
    $650,000
    Last Sale
    Feb 11, 2022
    $230,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-0487015
    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

    • The Burg / Bar & Pub

    Property Details for 1505 Verona Caney Rd

    Year built
    1993
    Lot size
    1.26 lot acres
    Property size
    2,190 SF
    Property type
    Retail space
    APN
    059057 05401
    APU
    5905705401

    Description

    This exceptional retail property presents a unique investment opportunity in the thriving Lewisburg, TN market. The 1,800 square foot commercial building sits on a spacious 1.26-acre lot, offering ample space for operations and potential expansion. Recent updates include a new 40 x 40 covered back patio, ideal for outdoor seating or events, and a real wood-burning fireplace, creating a welcoming atmosphere. The building is equipped with a durable metal roof, two HVAC units, and commercial-grade smoke eaters, ensuring efficient climate control and safety. The property's functionality is further enhanced by its inclusion of all existing contents (excluding specified items: wall art, poker table, jukebox, dart boards, golf game, and ATM). An attractive add-on option exists: the purchase of an adjacent 7.89-acre parcel zoned for agricultural use. This additional land boasts a scenic Big Rock Creek along its rear boundary, though it's important to note that portions of this acreage fall within a floodplain. The tax parcel ID for this additional land is 057 054.00. This combined property presents a compelling opportunity for a business owner seeking a well-maintained space with significant expansion potential in a rapidly growing area. The asking price for the 1.8k sqft building and 1.26 acres is $650,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Lewisburg
    County
    Marshall
    State
    Tennessee
    Longitude
    -86.7757
    Latitude
    35.4783
    CBSA code
    30280
    CBSA name
    LEWISBURG, TN MICROPOLITAN 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
    2021
    $886
    $4,960
    $39,360
    $44,320
    -
    $12,400
    $98,400
    $110,800

    Comparable in this City

    • Value Estimation by Request
      2,880 SF

      3530 Nashville Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,880 SF
      3530 Nashville Hwy, Lewisburg, TN 37091-6538
      View Details
    • Value Estimation by Request
      2,038 SF

      1575 Nashville Hwy

      RETAIL STORES (PERSONAL SERVICES) • 2,038 SF
      1575 Nashville Hwy, Lewisburg, TN 37091-2213
      View Details
    • Value Estimation by Request
      3,465 SF

      103 1st S Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,465 SF
      103 1st S Ave, Lewisburg, TN 37091-3314
      View Details
    • Value Estimation by Request
      4,389 SF

      108 2nd N Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,389 SF
      108 2nd N Ave, Lewisburg, TN 37091-3342
      View Details
    • Value Estimation by Request
      11,030 SF

      124 Church St

      RETAIL STORES (PERSONAL SERVICES) • 11,030 SF
      124 Church St, Lewisburg, TN 37091-2756
      View Details
    • Value Estimation by Request
      3,240 SF

      148 Church St

      RETAIL STORES (PERSONAL SERVICES) • 3,240 SF
      148 Church St, Lewisburg, TN 37091-2831
      View Details

    Similar Nearby for Sale

    • $650,000
      1,800 SF

      Lewisburg Retail Building - Prime Location

      Established Business, 1.8k sqft, 1.26 acres
      1505 Verona Caney Rd, Lewisburg, TN 37091
      View Details
    • $600,000

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    • $950,000
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      High-traffic location, ready to build.
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      Prime 1-acre lot, C2 zoning, near new developments.
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    • $120,000
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      Lewisburg Mixed-Use Investment Opportunity

      High-potential mixed-use property near the square.
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    Similar Nearby for Lease

    • $4 SF/Yr
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      Prime Retail Space in Lewisburg, TN. Multiple suites available.
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    • $1,450,000
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      Lewisburg Warehouse and Distribution Space

      28,472 SF warehouse/distribution space on 2.3 AC lot for lease.
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      View Details
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    Lewisburg, TN 37091
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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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