5040 Carothers Pkwy — Lease in Franklin, TN

  • Price: Contact for price
  • Listing type: For lease
  • Asset type: Retail Business
  • Location: Franklin, TN 37067

Description

Commercial property listing from JLL. Property: 5040 Carothers Pkwy.

Market Context

This retail in Franklin, TN is listed for lease. It has been on the market for 167 days. Compare it against other retail listings for lease in Franklin, TN — view the full market.

As of Q1 2026, the Nashville retail market showed an 18.2% vacancy rate, average asking rents near $33.84/SF/yr, rents up 2.7% year over year, and cap rates around 6.2%. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located space leases quickly.

Retail market FAQ

What is the typical cap rate for retail in Nashville?
About 6.2% as of Q1 2026, per multiple brokerage reports.
Is the Nashville retail market tightening or softening?
Vacancy is around 18.2%, with asking rents rising year over year (Q1 2026).

Estimated Market Rate

$4.73/SF/mo – $6.40/SF/mo

Mid: $5.57/SF/mo

Rate-first confidence-weighted blend with cost-of-business adjustment.

Based on comparable properties in similar markets rather than local sales.

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