Downtown Murfreesboro Flexible
For Sale
Contact for pricing
Pending
114 East College Street, Murfreesboro, TN 37130
Charming space in the heart of the city.
Property Size5,767 SF
Days on Market338
Property Features for 114 East College Street
General Information
Standard status
Pending
Size
5,767 SF
Property subtype
Commercial Lease / Mixed Use
Amenities
No Dock
Listing Agency:
T. Wright Properties
Listed By:
Taylor Wright · License #56745
(615) 895-9799
Source:
Compass
Added: Nov 17, 2025
Changed: Oct 13
Last Checked: Oct 20 at 11:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of T. Wright Properties
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Investment Insights
Based on property information with market context.
Located just off the historic Square in downtown Murfreesboro, the property at 114 E College St presents an opportunity for businesses or offices. The location is surrounded by restaurants, boutiques, professional offices, and hosts year-round downtown events, offering high convenience, walkability, and a central address. The flexible layout can accommodate various uses, including office, studio, boutique, or small service-based businesses, subject to zoning and approval. The space allows for the creation of a reception area, private offices or treatment rooms, and storage. The property offers downtown character, providing an alternative to a generic strip-center unit. Nearby parking options, easy access to major roads, and close proximity to the Square enhance its appeal for both customers and employees. The property contains 5767 square feet.
Key Highlights
- Prime downtown Murfreesboro location, just off the historic Square.
- High walkability and convenience to restaurants, boutiques, and downtown events.
- Flexible layout suitable for various business types.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,085
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,341,700
$1.3M
Cap Rate 7%
$958,357
$958.4K
Cap Rate 9%
$745,389
$745.4K
Market Conditions
NOI Build-Up for 5,767 SF
Gross rent
$114.2K $19.80/SF
− Vacancy
−$6.9K −$1.19/SF
EGI
$107.3K $18.61/SF
− OpEx
−$40.3K −$6.98/SF
NOI
$67.1K $11.63/SF
Area
Murfreesboro, TN
Vacancy
6.00%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,341,700
Cap Rate 7%
$958,357
Cap Rate 9%
$745,389
Alternative Uses
Best Use
Mixed Use
$958.4K
$838.6K – $1.12M
NOI $67,085 @ 7.0% cap · market cap 1,118.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.45M
$1.27M – $1.70M
NOI $101,771 @ 7.0% cap · market cap 1,696.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,348
Businesses Nearby
Explore this area
Business Placement
Demographics for 37130, TN
59,677
Population
25,838
Households
2.3
Avg Household Size
32
Median Age
37%
College-Educated
91%
High-School Grad
54.1 sq mi
ZIP Area
1,103
Density / Sq Mi
$60,389
Median Household Income
$37,710
Median Earnings
$1,157
Median Rent
$347,100
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Charming space in the heart of the city.
Where is this mixed-use property located?
The property is located at 114 East College Street Murfreesboro, TN.
What are key features of this property?
This property features: Prime downtown Murfreesboro location, just off the historic Square.; High walkability and convenience to restaurants, boutiques, and downtown events.; Flexible layout suitable for various business types.
