Mixed-Use Investment
1635 Middle Tennessee Blvd Murfreesboro, TN 37130
For Sale
$4,350,000
Multiple buildings with tenants and leases in Murfreesboro, TN.
Property Size12,000 SF
Lot Size3.97 Acres
Price / SF$362.50
Days on Market522
Property Features for 1635 Middle Tennessee Blvd
General Information
- Standard status
- Active
- Size
- 12,000 SF
- Lot size
- 3.97 Acres
- Property subtype
- Commercial/Industrial
Building Details
- Year Built
- 1974
Listing Agency:
LIPPLY REAL ESTATE
(813) 245-0905
Listed By:
Tiffany Williams · License #3558365
(813) 245-0905
Source:
Exitrealty
Added: Feb 20, 2025
Changed: Jul 10
Last Checked: Jul 26 at 6:01AM
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 LIPPLY REAL ESTATE
Investment Insights
Based on property information with market context.
This listing features multiple buildings to be sold together, including Parcel #s 102D M 03700 and 102D M 03702. The opportunity includes multiple tenants and leases that will convey to the new owner. Note that the tower does not convey. The properties include: 1635 Middle Tennessee Blvd, featuring 4,656 square feet of retail space; 1637 Middle Tennessee Blvd, offering 1,240 square feet of retail space; 1639 Middle Tennessee Blvd, a portable building with 1,640 square feet; 1641 Middle Tennessee Blvd, totaling 12,000 square feet, with 2,943 square feet of office space, 2,563 square feet of warehouse space, and 6,494 square feet of conditioned warehouse space; and 1647 Middle Tennessee Blvd, also totaling 12,000 square feet, which includes 323 square feet of office space, 5,150 square feet of warehouse space, and 6,527 square feet of retail space.
Key Highlights
- Multiple buildings included in the sale (Parcels 102D M 03700 and 102D M 03702).
- Opportunity for multiple tenants and leases to convey to the new owner.
- Significant square footage available across multiple buildings: 1635 (4,656sf retail), 1637 (1,240sf retail), 1639 (1,640sf portable), 1641 (12,000sf office/warehouse), 1647 (12,000sf office/warehouse/retail).
Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $252.0k | $21.00 |
| − Vacancy | −$40.3k | −$3.36 |
| EGI | $211.7k | $17.64 |
| − OpEx | −$52.9k | −$4.41 |
| NOI | $158.8k | $13.23 |
12,000 SF · lease $21.00/SF/yr · vacancy 16.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.27M
$1.98M – $2.65M
NOI $158,760 @ 7.0% cap · market cap 3.65%
Second Best
Mixed Use
$1.99M
$1.74M – $2.33M
NOI $139,590 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$3.03M
$2.65M – $3.53M
NOI $211,766 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Monte Carlo Event ...
Hotel & Motel
Unlimited Wireless Center
Mobile Phone Store
FAQs
What type of property is this?
Mixed-use property - Multiple buildings with tenants and leases in Murfreesboro, TN.
Where is this mixed-use property located?
The property is located at 1635 Middle Tennessee Blvd Murfreesboro, TN.
What is the asking price?
The asking price for this property is $4,350,000.
What are key features of this property?
This property features: Multiple buildings included in the sale (Parcels 102D M 03700 and 102D M 03702).; Opportunity for multiple tenants and leases to convey to the new owner.; Significant square footage available across multiple buildings: 1635 (4,656sf retail), 1637 (1,240sf retail), 1639 (1,640sf portable), **1641 (12,000sf office/warehouse), 1647 (12,000sf office/warehouse/retail).**
