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

    305 5th N Ave Franklin, TN 37064-2607

    • Parking lots & garages
    • 18,818 SF
    • 4.38 lot acres
    OFF-MARKET
    Value Estimations
    $825,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US80-1905570
    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

    • Rivian Service Center / Car Repair And Maintenance Service / Auto Repair Shop

    Property Details for 305 5th N Ave

    Year built
    1965
    Lot size
    4.38 lot acres
    Property size
    18,818 SF
    Property type
    Parking lots & garages
    APN
    094078B E 01600
    APU
    094078BE01600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $825,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,345,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklin
    County
    Williamson
    State
    Tennessee
    Longitude
    -86.8743
    Latitude
    35.9264
    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
    $42,918
    $1,366,560
    $210,600
    $1,577,160
    -
    $3,416,400
    $526,500
    $3,942,900

    Comparable in this City

    • Value Estimation
      $875,000
      208,125 SF

      122 2nd N Ave

      PARKING GARAGE, PARKING STRUCTURE • 208,125 SF
      122 2nd N Ave, Franklin, TN 37064-2509
      View Details
    • Value Estimation by Request
      1,408 SF

      1210 Murfreesboro Rd

      PARKING GARAGE, PARKING STRUCTURE • 1,408 SF
      1210 Murfreesboro Rd, Franklin, TN 37064-1304
      View Details
    • Value Estimation by Request
      2,218 SF

      1029 Columbia Ave

      PARKING GARAGE, PARKING STRUCTURE • 2,218 SF
      1029 Columbia Ave, Franklin, TN 37064-2833
      View Details
    • Value Estimation
      $2,730,000
      2,400 SF

      1979 Carters Crk Pike

      PARKING GARAGE, PARKING STRUCTURE • 2,400 SF
      1979 Carters Crk Pike, Franklin, TN 37064-5917
      View Details
    • Value Estimation
      $690,000
      1,260 SF

      1604 Main St

      AUTO REPAIR, GARAGE • 1,260 SF
      1604 Main St, Franklin, TN 37064-3455
      View Details
    • Value Estimation
      $660,000
      12,500 SF

      201 Beasley Dr

      AUTO REPAIR, GARAGE • 12,500 SF
      201 Beasley Dr, Franklin, TN 37064-3954
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Westhaven Mixed-Use Trophy Property

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      6,059 SF

      Former Financial Services Building

      6,059 SF building on 1.41 acres in Franklin, TN.
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    • $2,200,000
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      Franklin Retail Investment Opportunity

      High-traffic retail space, prime location.
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      Retail Space with Commercial Kitchen

      Retail space with commercial kitchen and ample parking available for sale.
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      Downtown Franklin Mixed-Use Gem

      Historic Franklin, 10,000 sq ft, prime location
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    Similar Nearby for Lease

    • Contact for pricing
      11,105 SF

      Renovated Retail Center with National Retailers

      Retail space in renovated center with strong national tenant lineup.
      1113 Murfreesboro Rd, Franklin, TN 37064
      View Details
    • Contact for pricing
      5,830 SF

      Retail Space in Franklin, TN

      Retail space available for lease in Franklin, Tennessee.
      320 Main St, Franklin, TN 37064
      View Details
    • $5,416 /Mo
      2,500 SF

      Retail Space in Franklin, TN

      2500 SF retail space available for rent.
      3054 Columbia Ave, Franklin, TN 37064
      View Details
    • $6,666 /Mo
      3,750 SF

      Retail Pad Site For Lease

      3,750 SF retail pad site available for ground lease.
      1195 Murfreesboro Rd, Franklin, TN 37064
      View Details
    • Contact for pricing
      2,461 SF

      Retail Space in Franklin, TN

      Retail space for lease in a high-traffic Franklin corridor.
      1319 Murfreesboro Rd, Franklin, TN 37064
      View Details
    • $6,666 /Mo
      3,750 SF

      Retail Pad Site For Lease

      3,750 SF pad site available in front of Kroger.
      1203 Murfreesboro Rd, Franklin, TN 37064
      View Details
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    305 5th N Ave
    Franklin, TN 37064-2607
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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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