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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2045 Fieldstone Pkwy Franklin, TN 37069-4336

    • Drug stores
    • 13,923 SF
    • 2.19 lot acres
    OFF-MARKET
    Last Sale
    Jun 21, 2021
    $5,289,472
    Value Estimations
    $5,750,000
    Show details
    Cap Rate Potential
    3.2%
    Drug stores
    Location Intelligence
    Property ID
    US80-1644286
    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

    • Walgreens Photo / Photo Shop / Passport Photo Processor
    • Walgreens / Stationery Store / Drug Store
    • Walgreens Pharmacy / Pharmacy
    • Tara M. Liette, PharmD / Pharmacy
    • COVID-19 Drive-Thru Testing at Walgreens / Pharmacy

    Property Details for 2045 Fieldstone Pkwy

    Year built
    1998
    Construction
    FRAME
    Lot size
    2.19 lot acres
    Property size
    13,923 SF
    Property type
    Drug stores
    APN
    094052 01001
    APU
    9405201001

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,255,000
      ML approach
      $7,490,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,870,000
      6.5%
      $3,570,000
      7%
      $3,315,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,602,000
      Market price range: $3.69M - $10.4M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $7,100,000
      Current use
      AUTO REPAIR, GARAGE
      $8,000,000
      Change: +13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Williamson
    State
    Tennessee
    Longitude
    -86.8843
    Latitude
    35.9626
    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
    $26,948
    $676,160
    $573,680
    $1,249,840
    -
    $1,690,400
    $1,434,200
    $3,124,600

    Comparable in this City

    • Value Estimation
      $1,845,000
      12,000 SF

      2177 Hillsboro Rd

      RETAIL STORES (PERSONAL SERVICES) • 12,000 SF
      2177 Hillsboro Rd, Franklin, TN 37069-6223
      View Details
    • Value Estimation
      $1,285,000
      8,100 SF

      2204 Hillsboro Rd

      RETAIL STORES (PERSONAL SERVICES) • 8,100 SF
      2204 Hillsboro Rd, Franklin, TN 37069-6218
      View Details
    • Value Estimation
      $8,480,000
      55,981 SF

      2176 Hillsboro Rd

      RETAIL STORES (PERSONAL SERVICES) • 55,981 SF
      2176 Hillsboro Rd, Franklin, TN 37069-6235
      View Details
    • Value Estimation
      $690,000
      4,166 SF

      1250 Old Hillsboro Rd

      RETAIL STORES (PERSONAL SERVICES) • 4,166 SF
      1250 Old Hillsboro Rd, Franklin, TN 37069-9129
      View Details
    • Value Estimation by Request
      2,400 SF

      2221 Hillsboro Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      2221 Hillsboro Rd, Franklin, TN 37069-6200
      View Details
    • Value Estimation
      $1,195,000
      4,500 SF

      1111 Battlewood St

      RETAIL STORES (PERSONAL SERVICES) • 4,500 SF
      1111 Battlewood St, Franklin, TN 37069-6453
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      25.55 Acres

      Franklin, TN Commercial Land

      ±25 Acres, 4 Buildings, High Traffic
      2197 Hillsboro Rd, Franklin, TN 37069
      View Details
    • Contact for pricing
      20,000 SF

      Retail Property in Franklin, TN

      20,000 SF retail property available for sale.
      2197-2231 Hillsboro Rd, Franklin, TN 37069
      View Details
    • $515,000
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      Franklin Commercial Land - 4.75 Acres

      Prime Franklin location, stunning views, 4.75 acres.
      402 Lake Valley Dr, Franklin, TN 37069
      View Details
    • $449,996

      Land Near Cool Springs, Brentwood

      Almost 5 acres of land close to Cool Springs and Brentwood.
      6785 Sawyer Rd, Franklin, TN 37069
      View Details
    • $2,400,000

      Private Hilltop Land with Views

      11.4 acres of land with utilities and views.
      360 Vaughn Rd, Franklin, TN 37069
      View Details
    • $12,750,000
      22.00 Acres

      Franklin, TN Commercial Land

      22 Acres, Historic Estate, $12.75M
      1711 Old Hillsboro Rd, Franklin, TN 37069
      View Details

    Similar Nearby for Lease

    • $1,430 /Mo
      112 SF

      Renovated Retail Space in Franklin

      Renovated retail suites in active Grassland retail corridor.
      1111 Battlewood St, Franklin, TN 37069
      View Details
    • Contact for pricing

      Retail Space in Harpeth Village

      Retail opportunity in established Fieldstone Farms community.
      2020 Fieldstone Pkwy, Franklin, TN 37069
      View Details
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    Franklin, TN 37069-4336
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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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