Murfreesboro Commercial Building in
118 Walnut N Street, Murfreesboro, TN 37130
7,200 sqft commercial building in Murfreesboro's historic courthouse square.
Type:Commercial/Industrial
Property size:
7,200 SFLot size:
0.16 AcresPrice / SF:
$194/SF- Added:
- Mar 12, 2026
- Days on Market:
- 67
- Last Refresh:
- Apr 5 at 8:40 pm
Property Features for 118 Walnut N Street
General Information
- Standard status
- Active
- Size
- 7,200 SF
- Lot size
- 0.16 Acres
- Property subtype
- Commercial/Industrial
Listing agent Lydia Sims License #367081
Listing office Sims Commercial Realtors & Auctioneers (615) 893-5252
Listing date Mar 12, 2026
Source Exitrealty
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 Sims Commercial Realtors & Auctioneers
HighLights
- 7,200 sq. ft. commercial building in Murfreesboro’s historic courthouse square district.
- Flexible split‑level layout suitable for single or dual occupancy.
- High foot traffic location in the thriving Central Business District (CBD).
- Easy access to I‑24, Town Creek Project, & Historic Bottoms.
- Features include ADA‑compliant wheelchair lift, roll‑up windows, and a roll‑up loading door.
- Rustic wood finishes, exposed brick and stone, and unique architectural details.
Overview
This 7,200 sq. ft. commercial building is located in the heart of Murfreesboro’s historic courthouse square district. The property offers flexibility and could house different types of businesses including a restaurant, bar, bakery, retail shop, event space, or workshop. The building's split-level layout means that one business could occupy the entirety, or the space could be shared between two separate operations. It features easy access to I-24 and foot traffic from the square, and is close to the ongoing Town Creek Project and Historic Bottoms across Broad St. The front of the building on Walnut St features a short landing from street level and a wheelchair lift for ADA compliance, two roll-up retractable windows, and a rollup door at street level for drive-in loading and unloading. The building also has a door at the rear which provides access to an alleyway. Rustic wood finishes, exposed brick and stone, and other architectural and design details enhance the customer experience. This is an opportunity for any business owner who wants to be in the thriving Central Business District (CBD) of one of the fastest-growing communities in the state.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$1.07M
NOI $96,422 @ 9.00% cap · cautious / downside scenario
Moderate
$1.38M
NOI $96,422 @ 7.00% cap · market / base-case scenario
Aggressive
$1.93M
NOI $96,422 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $133.9k | $18.60 |
| − Vacancy | −$5.4k | −$0.74 |
| EGI | $128.6k | $17.86 |
| − OpEx | −$32.1k | −$4.46 |
| NOI | $96.4k | $13.39 |
7,200 SF · lease $18.60/SF/yr · vacancy 4.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$1.38M
$1.21M – $1.61M
NOI $96,422 @ 7.0% cap · market cap 6.89%
Second Best
Mixed Use
$1.20M
$1.05M – $1.40M
NOI $83,754 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,060 @ 7.0% cap · market cap 9.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Gallagher Guitar Co
Industrial Manufacturer
Location Insight
- Map
- Local Demand
- City
- Murfreesboro
- County
- Rutherford
- State
- Tennessee
- Longitude
- -86.3934
- Latitude
- 35.8468
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - 7,200 sqft commercial building in Murfreesboro's historic courthouse square.
Where is this mixed-use property located?
The property is located at 118 Walnut N Street Murfreesboro, TN.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 7,200 sq. ft. commercial building in Murfreesboro’s historic courthouse square district.; Flexible split‑level layout suitable for single or dual occupancy.; High foot traffic location in the thriving Central Business District (CBD).
