507 New Highway 96 W - Medical FOR SALE


Franklin, TN 37064- Downtown Franklin
$3,900,000 USD
615-794-9220
507 New Highway 96 W, Franklin, TN for Sale
$3,900,000 USD
Medical - FOR SALE
1/29
null | 6.6% Cap Rate

507 New Highway 96 W
Franklin, TN 37064
Downtown Franklin


HIGHLIGHTS

  • Investment opportunity close to Historic Downtown Franklin TN, one of Williamson County's most sought-after locations.
  • Fully occupied. Leased to City of Franklin Fire Dept. Guaranteed stable income through June 30, 2027, totaling $620,048.50, Cap 6.6%.
  • Flexible options after lease expiration: owner occupancy, new tenant leasing, or split use (one floor for owner, one for tenant).
  • Boasts exceptional visibility & proximity to Downtown Franklin & key intersections, making it ideal for businesses seeking convenience & exposure.

OVERVIEW

Investment opportunity close to Historic Downtown Franklin, TN, one of Williamson County's most sought-after locations. This freestanding commercial building is multi-level and spans 8,445 square feet on a 2.67-acre lot. Currently, fully occupied and leased by the City of Franklin, the property guarantees stable income through June 30, 2027, totaling $620,048.50 over the lease term. Tenant responsibilities include maintenance, taxes, insurance utilities and landscaping. Situated on a major thoroughfare with daily traffic of nearly 15,000 vehicles (as of April 2024), this property boasts exceptional visibility and proximity to Downtown Franklin and key intersections, making it ideal for businesses seeking convenience and exposure. Flexible options after lease expiration: owner occupancy, new tenant leasing, or split use (one floor for owner, one for tenant) Its Civic Institutional zoning (CI) supports diverse uses such as public assembly, medical offices, clinics, rehabilitation, educational facilities, civic and fraternal uses, and professional spaces to name a few. The property features a parking lot with 44 spaces (including handicap-accessible spots), security systems, an audio-visual capable conference room, LED lighting, and multiple HVAC systems for optimal comfort. Originally constructed as the administrative headquarters for the Franklin Special School District, this property is ready for its next chapter in Franklin’s thriving market. Don’t miss this exceptional opportunity to own a highly desirable asset—contact us today to learn more or schedule a private or virtual tour!

FOR SALE DETAILS

PRICE

$3,900,000 USD

PRICE/SF

$462 USD /SF

CAP RATE

6.6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Day Care Center, Funeral Home, Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1984

SPRINKLERS

-

PARKING SPACES

44

LAND DETAILS

LAND ACRES

2.67 AC

LAND SF

116,305 SF

ZONING

Civic Institutional

APN/PARCEL ID

078B-A-005.00

ASK ABOUT THIS PROPERTY

Thomas MagliMagli Realty CompanyMore Info
615-794-9220

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Thomas MagliMagli Realty CompanyMore Info
615-794-9220

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.