718 Main St Springfield, TN 37172-2810
- Theaters & concert halls
- 7,144 SF
- 0.37 lot acres
Current Use by Public Records
- Theaters & concert halls
Property Details for 718 Main St
- Year built
- 1937
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.37 lot acres
- Property size
- 7,144 SF
- Property type
- Theaters & concert halls
- APN
- 074080J C 03400
- APU
- 074080JC03400
Description
This exceptional 7,048 square foot retail property, located at 718 S Main St in Springfield, TN, presents a unique investment opportunity. Situated on a 0.34-acre lot in the heart of downtown Springfield, this building boasts a rich history as the Capitol Theatre, a music venue that hosted Elvis Presley and other renowned artists in 1939. Subsequently used as a movie theatre, the property has undergone partial renovations, showcasing custom-tiled bathrooms and a completely renovated lobby. The grand theatre room remains a stunning feature, retaining its original character with soaring ceiling heights and a seating capacity of 248 on the main level and an additional 198 in the balcony/gallery. This adaptable space offers immense potential for various uses, including its return as an entertainment venue, a music hall, or conversion into modern office space. A unique second-floor lounge area adds to the property's charm and appeal, offering a distinctive atmosphere that would resonate with Springfield residents. The asking price for this historically significant property is $1,500,000. Its prime downtown location and substantial size make it an attractive proposition for investors seeking a high-impact commercial property with significant redevelopment potential. The existing renovations provide a solid foundation for a variety of future uses, ensuring a strong return on investment.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $225,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $315,000
- 6.5%
- $320,000
- 7%
- $325,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $300,000
- Geo Method
- $385,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $315,000
- Retail
- $305,000
- Mixed-Use
- $350,000
- Hospitality
- $295,000
- Educational
- $375,000
- Residential Income
- $370,000
- Energy
- $355,000
- Income-Based Land
- $325,000
- Food Service
- $365,000
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Robertson
- State
- Tennessee
- Longitude
- -86.8847
- Latitude
- 36.5074
- CBSA code
- 34980
- CBSA name
- NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA
