Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Murfreesboro Industrial Parcels For Sale Title is generated by Realmo AI

    728 Old Salem Rd, Murfreesboro, TN 37129

    View on Map
    Claim this Listing
    For Sale
    $1,150,000

    Three contiguous parcels totaling 0.63 acres in central Murfreesboro.

    Type:Land or Vacant Lot
    Lot size:
    0.63 Acres
    Added:
    Dec 19, 2024
    Days on Market:
    532
    Last Refresh:
    Apr 5 at 9:38 pm

    Property Features for 728 Old Salem Rd

    General Information

    Standard status
    Active
    Lot size
    0.63 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    LYDIA SIMS

    Listing agent LYDIA SIMS License #367081

    Listing office SIMS COMMERCIAL REALTORS & AUCTIONEERS

    Listing date Dec 19, 2024

    Source Corcoran

    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

    • .63+/- AC of land in central Murfreesboro with all utilities accessible.
    • Zoned Heavy Industrial (H‑I), suitable for various business and development purposes.
    • Located in a Qualified Opportunity Zone, offering potential tax benefits for investors.
    • Significant road frontage: 60+ ft on Old Salem Rd and 215+ ft on Douglas Ave.
    • Existing structure on the property can generate income during redevelopment.
    • Opportunity for urban redevelopment project or new corporate location.

    Overview

    Three contiguous parcels totaling approximately 0.63 acres are available for purchase in central Murfreesboro. The property, zoned Heavy Industrial (H-I), presents a unique opportunity for builders, developers, and investors interested in an urban redevelopment project. Business owners seeking a new corporate location may also find this an ideal situation. The property features over 60 feet of frontage on Old Salem Road and over 215 feet of frontage on Douglas Avenue. Situated in a Qualified Opportunity Zone within a largely industrial area, the location is just west of the historic Bottoms Community and the ongoing Town Creek Project. An existing structure on the property can be used to generate income during redevelopment planning or serve as an office for a future business. All utilities are accessible. The neighboring three lots zoned RM-12 are also available from the same owner.
    Property Profile Location Intelligence

    Current Use by Public Records

    Industrial land

    Suggested Use

    Restaurant Real Estate Agency Dental Office Spa & Massage Center Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Law Firm Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Murfreesboro
    County
    Rutherford
    State
    Tennessee
    Longitude
    -86.3998
    Latitude
    35.8387

    Nearby Similar for Sale

    • $750,000

      Murfreesboro Commercial Land Opportunity

      5.02+/- acres zoned Commercial Highway in Murfreesboro, Tennessee.
      0 John Bragg Hwy./Lyons Farm Pkwy., Murfreesboro, TN 37127
      View Details
    • $1,000,000
      5,626 SF

      Multi-Use Property Near Downtown

      Versatile commercial property suitable for office, medical, or institutional use.
      507 N University St, Murfreesboro, TN 37130
      View Details
    • $15,000,000
      38,274 SF

      Murfreesboro Mixed-Use Investment Opportunity

      Mixed-use property with income potential and future development opportunities.
      601 River Rock Blvd, Murfreesboro, TN 37128
      View Details
    • $4,350,000
      12,000 SF

      Mixed-Use Investment Opportunity

      Multiple buildings with tenants and leases in Murfreesboro, TN.
      1635 Middle Tennessee Blvd, Murfreesboro, TN 37130
      View Details
    • $4,333,000
      2,400 SF

      Fifth Third Bank Ground Lease

      New 20-year NNN lease in high-growth Nashville suburb.
      5213 Veterans Pkwy, Murfreesboro, TN 37128
      View Details
    • $2,000,000

      Murfreesboro Land I-840 Frontage

      6.21 acres of land with I-840 frontage in Murfreesboro, TN.
      11739 Mona Road, Murfreesboro, TN 37129
      View Details
    • $1,400,000
      7,200 SF

      Murfreesboro Commercial Building in CBD

      7,200 sqft commercial building in Murfreesboro's historic courthouse square.
      118 Walnut N Street, Murfreesboro, TN 37130
      View Details
    • $1,200,000
      3,450 SF

      Murfreesboro Office Building For Sale

      3,450 SF office building in the heart of Murfreesboro.
      725 S Church St, Murfreesboro, TN
      View Details
    • $1,200,000
      3,450 SF

      Murfreesboro Office Building For Sale

      3,450 SF office building in the heart of Murfreesboro.
      725 S Church Street, Murfreesboro, TN 37130
      View Details
    • $355,000
      577,936 SF

      Commercial Land in Growing Area

      1.3 acre commercial land with development potential near amenities.
      5285 Woodbury Pike, Murfreesboro, TN 37127
      View Details
    • $7,425,000
      5,703 SF

      Highway Retail Property in Murfreesboro

      New NNN lease property near Interstate 24 entrance.
      1509 Joe B Jackson Pkwy, Murfreesboro, TN
      View Details
    • $375,000
      624,309 SF

      Commercial Land with Development Potential

      1.43 acre commercial land near town with building pad.
      5317 Woodbury Pike, Murfreesboro, TN 37127
      View Details

    FAQs

    What type of property is this?
    Industrial land - Three contiguous parcels totaling 0.63 acres in central Murfreesboro.
    Where is this industrial land located?
    The property is located at 728 Old Salem Rd Murfreesboro, TN.
    What is the asking price?
    The asking price for this property is $1,150,000.
    What are key features of this property?
    This property features: .63+/- AC of land in central Murfreesboro with all utilities accessible.; Zoned Heavy Industrial (H‑I), suitable for various business and development purposes.; Located in a Qualified Opportunity Zone, offering potential tax benefits for investors.
    (615) 893-5252
    We can help!
    Listing Contact
    LYDIA SIMS
    Real Estate License ID: 367081
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    728 Old Salem Rd, Murfreesboro, TN 37129
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!