NNN Retail Property with Large
For Sale
Contact for pricing
2708 New Salem Hwy, Murfreesboro, TN 37128
Absolute NNN lease with 74 parking spaces on a 2.49-acre lot, directly across from Saint Thomas Medical Partners.
Property Size14,820 SF
Lot Size2.49 Acres
Price / SF$329.08
Days on Market594
Property Features for 2708 New Salem Hwy
General Information
Standard status
Active
Size
14,820 SF
Total Parking Spaces
74
Lot size
2.49 Acres
Property subtype
RETAIL
Listing Agency:
Centennial Retail Services
(615) 234-4934
Listed By:
Barry Hardwick
(615) 234-4934
Source:
Moodyscre
Added: Dec 13, 2024
Changed: Jul 25
Last Checked: Jul 25 at 2:44AM
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 Centennial Retail Services
Investment Insights
Based on property information with market context.
This for-sale NNN retail property is supported by an absolute NNN lease with 9.5 years remaining. The asset sits on a 2.49-acre lot and is sized at 14,820 square feet. Parking is provided with 74 spaces, based on a 5.26 spaces per 1,000 square foot ratio.
The property is located at 2708 New Salem Hwy in Murfreesboro, TN, directly across the street from Saint Thomas Medical Partners. Public remarks also note strong traffic counts and an established location.
Additional highlights included in the offering materials are a projected population growth rate of 15%+ over the next five years, along with the note that Tennessee has no state income tax.
The property is located at 2708 New Salem Hwy in Murfreesboro, TN, directly across the street from Saint Thomas Medical Partners. Public remarks also note strong traffic counts and an established location.
Additional highlights included in the offering materials are a projected population growth rate of 15%+ over the next five years, along with the note that Tennessee has no state income tax.
Key Highlights
- Absolute NNN lease with 9.5 years remaining
- Directly across the street from Saint Thomas Medical Partners
- 2.49‑acre lot with established location and strong traffic counts
Financial Insights For Retail
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 | $257.9k | $17.40 |
| − Vacancy | −$11.6k | −$0.78 |
| EGI | $246.3k | $16.62 |
| − OpEx | −$73.9k | −$4.99 |
| NOI | $172.4k | $11.63 |
14,820 SF · lease $17.40/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.46M
$2.15M – $2.87M
NOI $172,385 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.74M
$3.27M – $4.36M
NOI $261,532 @ 7.0% cap · market cap 5.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
69k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Groceries 40%
Shops & Services 5%
Publix
Groceries
27,844 visits/mo
0.2 miles
McDonald's
Dining
22,284 visits/mo
0.1 miles
Taco Bell
Dining
13,719 visits/mo
0.1 miles
FirstBank
Shops & Services
3,613 visits/mo
0.1 miles
China Wok
Dining
1,121 visits/mo
0.2 miles
Demographics for 37128, TN
70,329
Population
29,190
Households
2.4
Avg Household Size
34
Median Age
38%
College-Educated
95%
High-School Grad
56.7 sq mi
ZIP Area
1,240
Density / Sq Mi
$89,069
Median Household Income
$46,844
Median Earnings
$1,514
Median Rent
$364,100
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Absolute NNN lease with 74 parking spaces on a 2.49-acre lot, directly across from Saint Thomas Medical Partners.
Where is this retail space located?
The property is located at 2708 New Salem Hwy Murfreesboro, TN.
What is the asking price?
The asking price for this property is $4,876,923.
What are key features of this property?
This property features: Absolute NNN lease with 9.5 years remaining; Directly across the street from Saint Thomas Medical Partners; 2.49‑acre lot with established location and strong traffic counts
