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    2504 Memorial Blvd Springfield, TN 37172

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    2504 Memorial Blvd Springfield, TN 37172

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    • Commercial real estate
    • 4.31 lot acres
    For Sale
    $2,795,000
    View Listing →
    Prime Commercial Land For Sale For Sale
    $2,795,000
    4.31 Acres

    Prime Commercial Land For Sale

    4.31 acres of commercial land with road frontage.

    2504 Memorial Blvd, Springfield, TN 37172
    View Listing
    Property ID
    US80-1154989
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2504 Memorial Blvd

    Lot size
    4.31 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 4.31-acre commercial land parcel presents a unique investment opportunity in Springfield, Tennessee. Strategically located on Memorial Boulevard, this property boasts an enviable position near high-traffic areas, including a Kroger grocery store and Reiselman GMC. Its prime location offers significant visibility and accessibility, making it ideal for a wide range of commercial developments. The property's substantial size, coupled with its prominent frontage on three roads (Memorial Boulevard and East Hillcrest Drive), provides approximately 1180 feet of road frontage, maximizing exposure and potential for development. The asking price is $2,500,000. Situated in Robertson County, with a zip code of 37172, this property is easily accessible from Highway 41 North, heading towards Greenbrier/Springfield. Its proximity to established businesses ensures high traffic flow and a strong customer base. The vacant land offers developers the flexibility to create a project tailored to the specific needs of the market. This is a rare opportunity to acquire a significant commercial land holding in a thriving Tennessee community. The property's size and location make it suitable for a variety of commercial uses, offering substantial potential for return on investment. Don't miss this chance to secure a prime piece of commercial real estate in a rapidly growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Robertson
    State
    Tennessee
    Longitude
    -86.8683549
    Latitude
    36.4896385

    Comparable in this City

    • $550,000

      Corner Lot Near Historic Downtown

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    • $250,000

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    • $3,950,000

      239 Acre Robertson County Farm

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    • $718,000

      Acreage with Development Potential

      Agricultural land with road frontage, water tap, and farm shed.
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    • $499,900
      5,000 SF

      Commercial Building on Large Land

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    Similar Nearby for Sale

    • $550,000

      Corner Lot Near Historic Downtown

      Commercial land near downtown with multi-use zoning.
      1205 S Main St, Springfield, TN 37172
      View Details
    • $650,000

      30 Acres of Farmland

      30 acres of farmland suitable for building or commercial rezoning.
      30 N Garrett Rd, Springfield, TN 37172
      View Details
    • $250,000

      Coopertown Acreage with Commercial Potential

      Over one acre lot with potential for commercial zoning.
      2627 Woods Rd, Springfield, TN 37172
      View Details
    • $3,950,000

      239 Acre Robertson County Farm

      Expansive farm with development potential in northern Robertson County.
      5078 Ezbon Holland Rd, Springfield, TN 37172
      View Details
    • $718,000

      Acreage with Development Potential

      Agricultural land with road frontage, water tap, and farm shed.
      4635 Highway 431 N, Springfield, TN 37172
      View Details
    • $499,900
      5,000 SF

      Commercial Building on Large Land

      Commercial building with expansion potential near Nashville.
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    Similar Nearby for Lease

    • Contact for pricing
      22,480 SF

      Industrial Warehouse with Fenced Lot

      Freestanding industrial building with fully fenced lot for lease.
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      5,923 SF

      Retail Opportunity Available Summer 2026

      Former dealership or outparcel opportunity for lease in Springfield.
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      Retail/Automotive Space in Springfield, TN

      Flexible retail or automotive space available for lease in Summer 2026.
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      View Details
    • Contact for pricing
      2,400 SF

      Retail Pad Site For Lease

      2,400 SF retail pad site available for ground lease.
      2500-2600 Memorial Blvd, Springfield, TN 37172
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      5,066 SF

      Retail Space Near Walmart

      Retail space fronting Tom Austin Highway, near Walmart.
      3418 Tom Austin Hwy, Springfield, TN 37172
      View Details
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    2504 Memorial Blvd
    Springfield, TN 37172
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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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