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Property profile & analytics
OFF-MARKET
Estimated value
$4,055,000
Office Spaces
232 Public Sq Franklin, TN 37064-2527
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US80-1482698
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1900
Total area
4,608 SF
Lot
0.09 ac (3,920 SF)
APN
094078C N 00700
UPID
US80-1482698
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.72M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.54M
Blend (final)
Blend
$4.06M
Owner & transaction history
Franklin Square Commercial Prop LLC · 1 yrs held
Franklin Square Commercial Prop LLC
since 2025
Last sale
$4.7M
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.6M
+17.5%
Retail stores
$2.6M
+14.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Franklin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Franklin submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,725,000
ML approach
$3,720,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$2,645,000
Change: +17% · Conversion: Difficult
RETAIL STORES
$2,590,000
Change: +15% · Conversion: Easy
Blend value · Realmo final
$4.06M
Range $3.65M – $4.46M · ±10% · vs last sale $4.65M (Jan 2 2025)
Last sale anchor
$4.65M
Jan 2 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$880 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$30,109
Tax year 2023
Assessed value
$1,106,440
Assessed 2023
Previous assessed
$1,106,440
+0.0% YoY
Effective rate
2.72%
On assessed value
Assessed land
$900,000
Assessed improvement
$206,440
Land market value
$2,250,000
Improvement market value
$516,100
Total market value
$2,766,100
Applied tax rate
263.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1900
Heating
YES
Cooling
YES
Stories
2
Bathrooms
1
Total area
4,608 SF
Lot
0.09 ac (3,920 SF)
APN
094078C N 00700
UPID
US80-1482698
Jurisdiction
WILLIAMSON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$2.6M
RETAIL STORES
Est. value
$2.6M
AUTO REPAIR, GARAGE
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1900
Heating
YES
Cooling
Yes
Stories
2
Bathrooms
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
Franklin Square Commercial Prop LLC
Entity
Mailing address
234 PUBLIC SQ, FRANKLIN, TN 37064-2527
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 2, 2025
$4,650,000
Franklin Square Commercial Prop LLC
Alabaster LLC
Warranty Deed
$2,150,000 · Renasant Bank
May 17, 2022
$4,200,000
Alabaster LLC
Franklin Fire Hall LLC
Special Warranty Deed
—
Oct 17, 2019
$2,300,000
Franklin Fire Hall LLC
Kenneth Zongor
Special Warranty Deed
$2,315,000 · Franklin Synergy Bank
Jul 31, 2013
$950,000
Kenneth Zongor
Beasley,earl JR & John S II
Warranty Deed
$960,000 · Franklin Synergy Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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