Technical
Financial
Distress signals
Property profile

607 Locust St Springfield, TN 37172

OFF-MARKET
Office Spaces
Property ID
US80-1300261
2,726 SF 0.09 ac lot Built 1974
Individually Owned 5-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 5,550 square foot commercial building is situated in Springfield's Historic District, just one block from the town square. The property boasts a lucrative mixed-use configuration, currently housing a thriving law firm and a day spa. The building offers significant income potential with a fully renovated, 1,200 square foot, two-bedroom, one-bathroom apartment on the second floor, renting for $1,300 per month. This apartment features a separate entrance, providing privacy and convenience for the tenant. The ground floor comprises approximately 2,330 square feet dedicated to the law firm, featuring seven private offices (each approximately 16' x 14'), a conference room, a kitchen, and a bathroom. Adjacent to the law firm is a 1,980 square foot day spa, complete with a lobby, three private treatment rooms, a laundry room, and a bathroom. The property includes a convenient parking lot with space for twelve vehicles. This unique opportunity combines the benefits of a prime location in a historic district with the consistent income generated by multiple tenants, making it an attractive investment for discerning buyers. The 0.22-acre lot provides ample space for the building and parking. This property is ready for immediate occupancy and offers a strong return on investment.

Property profile

Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Year built 1974
Total area 2,726 SF
Lot 0.09 ac (3,990 SF)
APN 074080J B 02000
UPID US80-1300261

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • County Government Office
  • Spa & Massage Center
  • Alternative Medicine Practice Spa & Massage Center

Location

607 Locust St Springfield, TN 37172-2824
Springfield metro Census 80302 NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$340k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$385k

Owner & transaction history

since 2021
Last sale
$286,000
5 recorded transactions
2021
$286,000
2012
$86,000
1999
$160,000
1969
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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