Medical/Dental Office with
For Sale
$1,525,000
117 Sulphur Springs Rd, Murfreesboro, TN 37129
Medical/dental office with upstairs apartment and expansion potential.
Property Size4,500 SF
Price / SF$338.89
Days on Market271
Property Features for 117 Sulphur Springs Rd
General Information
Standard status
Active
Size
4,500 SF
Building Details
Year Built
2004
Listing Agency:
Royal Properties Realty Co. Inc.
Listed By:
Leanne Davis Johnson
(615) 300-1010
Source:
Dreamdoorstn
Added: Jan 26
Changed: Oct 10
Last Checked: Oct 7 at 3:47PM
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 Royal Properties Realty Co. Inc.
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Investment Insights
Based on property information with market context.
This property, currently used as a dental office, offers 3,500 square feet on the ground floor with an additional 1,000 square foot apartment upstairs. There is also an extra 1,000 square feet of expandable space. The building may also suit a med spa or other specialties. Pelton Crane cabinetry, X-ray equipment, and dental chairs and equipment are available for purchase. Owner financing may be considered.
Key Highlights
- Large commercial space: 3500 sq ft downstairs with an additional 1000 sq ft apartment upstairs, plus 1000 sq ft of expandable space.
- Owner financing considered.
- Currently configured as a dental office, suitable for immediate use.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,535
Cap Rate
3.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,190,700
$1.2M
Cap Rate 7%
$850,500
$850.5K
Cap Rate 9%
$661,500
$661.5K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$94.5K $21.00/SF
− Vacancy
−$15.1K −$3.36/SF
EGI
$79.4K $17.64/SF
− OpEx
−$19.8K −$4.41/SF
NOI
$59.5K $13.23/SF
Area
Murfreesboro, TN
Vacancy
16.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,190,700
Cap Rate 7%
$850,500
Cap Rate 9%
$661,500
Alternative Uses
Best Use
Office B
$850.5K
$744.2K – $992.3K
NOI $59,535 @ 7.0% cap · market cap 3.90%
Second Best
Healthcare Medical
$783.5K
$685.6K – $914.1K
NOI $54,845 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$1.13M
$992.7K – $1.32M
NOI $79,412 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,006
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 37129, TN
60,494
Population
24,548
Households
2.5
Avg Household Size
37
Median Age
39%
College-Educated
95%
High-School Grad
80.0 sq mi
ZIP Area
756
Density / Sq Mi
$89,772
Median Household Income
$48,137
Median Earnings
$1,597
Median Rent
$371,100
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical/dental office with upstairs apartment and expansion potential.
Where is this medical office space located?
The property is located at 117 Sulphur Springs Rd Murfreesboro, TN.
What is the asking price?
The asking price for this property is $1,525,000.
What are key features of this property?
This property features: Large commercial space: **3500 sq ft downstairs with an additional 1000 sq ft apartment upstairs, plus 1000 sq ft of expandable space.**; Owner financing considered.; Currently configured as a dental office, suitable for immediate use.
